AgroFresh Solutions (AGFS) Tops Q1 EPS by 7c

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Go back to AgroFresh Solutions (AGFS) Tops Q1 EPS by 7c

AgroFresh Solutions Reports Results for First Quarter of 2020

May 11, 2020 4:05 PM EDT

First quarter net sales decreased 15.2% (9.8% on a constant currency basis) versus the prior year period due to adverse growing conditions in Latin America and isolated impacts of the pandemic that include weakening of local currencies. Gross profit margin increased 330 basis points to 74.2% versus the prior year period primarily due to supply chain efficiencies put in place at the end of 2019. Selling, general and administrative expense decreased 13.8% to $13.7 million for the first quarter of 2020, and decreased 5.8% when excluding nonrecurring items related to litigation and M&A,... More