S&W Seed (SANW) Misses Q2 EPS by 5c, Revenues Beat

S&W Seed (NASDAQ: SANW) reported Q2 EPS of ($0.23), $0.05 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $15.05 million versus the consensus estimate of $14.67 million.

"We believe the second half of our fiscal 2021, which runs from January through June, is setting up to be strong, driven by both improved macro agricultural trends and company-specific initiatives that have the potential to transform S&W for years to come," commented Mark Wong, President & CEO of S&W Seed Company. "With the backdrop of agricultural commodities near seven-year highs, we remain on track to commercialize this spring our first ever proprietary seed trait technology product, a non-GMO herbicide tolerant sorghum, that we believe is expected to have the highest value of any commercial sorghum trait currently in the market. This launch is expected to position S&W as the only completely integrated agricultural seed company with trait technology products for a middle market crop. As we move forward, our goal is to replicate the business model applied by the larger integrated seed companies in leading acreage crops such as corn and soybeans, but focus on middle market acreage opportunities such as sorghum, alfalfa and sunflower which have had minimal tech investment by the industry over the years. We believe we are well positioned to take advantage of one of the next big opportunities in agriculture and are pleased by the continued execution of the strategy we laid out three years ago."

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

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