RiceBran Technologies (RIBT) Misses Q1 EPS by 1c

RiceBran Technologies (NASDAQ: RIBT) reported Q1 EPS of ($0.08), $0.01 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $8.33 million versus the consensus estimate of $8.52 million.

"The outbreak of COVID-19 in 2020 has driven strong demand for non-perishable consumer food staples like the rice, oat, and barley products that we offer. This combined with recent capital investments drove a significant acceleration in growth at Golden Ridge and MGI in the first quarter of 2020," said Brent Rystrom, President and Chief Executive Officer. "We are pleased with how our business is operating in this environment, but we are also carefully managing through the challenges this crisis creates for our operations. With Golden Ridge now running at higher levels, we have also started production of stabilized rice bran at the mill, which should have increasingly positive impacts on our financial results as 2020 progresses. As a result, we are excited for the opportunity to drive substantial sales growth and EBITDA improvements for RiceBran Technologies in 2020 and beyond."

For earnings history and earnings-related data on RiceBran Technologies (RIBT) click here.

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