Evogene (EVGN) Posts Q2 Loss, Revenues Weak, Down Y/Y - Tale of the Tape
Rehovot, Israel-based Evogene Ltd. (EVGN) is a premium plant genomics company that makes use of innovative technologies for augmenting seed traits, in order to ensure greater crop productivity. Increasing global population, rising proportion of middle-income consumers and improving individual dietary habits are some aspects that are likely to enhance agricultural demand, and in turn, sales of farming products offered by Evogene. However, the company’s product prices remain volatile with respect to the volatilities in the global agro industry. Moreover, its trade is exposed to risks associated with currency headwinds and industry rivalry.
Currently, EVGN has a Zacks Rank#3 (Hold) but that could change following its second-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: EVGN reported an adjusted loss of 20 cents per share in second-quarter 2015; in contrast of a loss of 13 cents witnessed in the year ago tally.
Revenue: Revenues came in at $2.7 billion, roughly 31% lower year over year.
Key Stats: EVGN perceives that its revenues and hence earnings in second-quarter 2015 were adversely affected by the amendments made within its Bayer collaboration work plan. However, company believes that innovations, royalties and increased sales of seeds would support its top and bottom line growth in the to be reported quarters.
Stock Price: Shares prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this EVGN earnings report later!
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