S&W Seed (SANW) Tops Q3 EPS by 2c, Revenues Beat; Suspends FY20 Guidance

S&W Seed (NASDAQ: SANW) reported Q3 EPS of ($0.09), $0.02 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $29.09 million versus the consensus estimate of $21.17 million.

"The results for the third quarter and first nine months of fiscal 2020 reflect the continued progress to diversify our product offerings and expand our distribution channels, highlighted by our recent acquisition of Pasture Genetics in Australia," commented Mark Wong, President & CEO of S&W Seed Company. "Over the last few months, we made solid progress integrating our newly acquired business and also announced a significant collaboration on the development of a new sorghum herbicide-tolerant system which we believe has the ability to bring innovation to sorghum growers through improved weed control and yields. We, like many other agricultural companies, are working through the near-term uncertainty surrounding COVID-19 and the impact it has caused to global logistics and our ability to interact with our customers during our peak selling season. We remain committed to the safety of our employees, while serving the needs of our global agricultural customers."

Outlook

Due to uncertainties regarding the duration and impact of the COVID-19 pandemic, S&W is temporarily suspending its annual revenue and gross margin guidance for 2020.

For earnings history and earnings-related data on S&W Seed (SANW) click here.

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