S&W Seed (NASDAQ: SANW) reported Q1 EPS of ($0.21), $0.03 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $13.9 million versus the consensus estimate of $11.83 million.

GUIDANCE:

S&W Seed sees FY2021 revenue of $88-94 million, versus the consensus of $90.92 million.

"The seasonally slow first quarter came in line with our internal expectations and should become a critical pivot quarter for S&W as we expect the remainder of the fiscal year to show strong core revenue growth and improvements in gross margins," commented Mark Wong, President & CEO of S&W Seed Company. "While the first quarter was comprised primarily of lower margin alfalfa seed sales to select regions of the world, we continue to be encouraged by the strong margin profile of our sorghum business. As we enter the remainder of the fiscal year, we expect the strength of our high margin sorghum business, coupled with continued realization of investments we have made within our sales and marketing, and research and development functions, to highlight the leveraged power of the S&W business model. We look forward to building off the strong core revenue growth momentum achieved last year as we proceed throughout fiscal 2021."

Outlook

S&W is reiterating its previously issued guidance issued on September 23, 2020. S&W expects Core Revenue for fiscal 2021 to be within a range of $73 to $79 million, representing an expected increase of 22% to 32% compared to fiscal 2020 Core Revenue of $59.9 million.

Including contributions from Pioneer, S&W continues to expect total revenue for fiscal 2021 to be within a range of $88 to $94 million.

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