AgroFresh Solutions (AGFS) Misses Q1 EPS by 7c

AgroFresh Solutions (NASDAQ: AGFS) reported Q1 EPS of ($0.25), $0.07 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $38.9 million versus the consensus estimate of $39.45 million.

“Our core business in the southern hemisphere got off to a solid start in the first quarter of 2019, despite a delayed harvest in Latin America that impacted apples and other key regional crops such as pears. We were able to mitigate this seasonal softness with our diversified mix of post-harvest solutions. We experienced modest growth in our FreshCloud product offerings, 5% growth in our Tecnidex business on a constant currency basis, and our first commercial sales of Harvista in Australia following regulatory approval in late January,” commented Jordi Ferre, Chief Executive Officer. “We continue to focus on optimizing our cost base and driving sustainable growth through a broader and more diversified product portfolio and crop reach. We believe that our execution of these initiatives will promote the resilience of our core business and position us to gain share in additional markets where we can leverage our global post-harvest leadership position.”

For earnings history and earnings-related data on AgroFresh Solutions (AGFS) click here.

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