Amyris (AMRS) Q4 Earnings and Revenues Lag Estimates
Amyris, Inc. AMRS recorded a loss (as reported) of 46 cents per share for fourth-quarter 2022, compared with a loss of 43 cents in the year-ago quarter.
Barring one-time items, adjusted loss per share was 52 cents per share for the quarter, wider than the Zacks Consensus Estimate of a loss of 20 cents
The company registered revenues of $75.8 million for the quarter, up around 17% year over year, missing the Zacks Consensus Estimate of $104.1 million. The top line was driven by record revenues in the Consumer unit. The company saw strong growth of its consumer brands in the quarter.
Amyris, Inc. Price and Consensus
Amyris, Inc. price-consensus-chart | Amyris, Inc. Quote
Segment Highlights
Revenues from the Consumer segment went up 64% year over year to $52.8 million in the reported quarter. The upside was driven by Biossance, JVN and MenoLabs brands.
The Technology Access segment raked in revenues of around $23 million, down around 30% year over year. The downside was mainly due to $13 million of joint venture revenues registered in the year-ago quarter.
FY22 Results
Loss in full-year 2022 was $1.69 per share, wider than a loss of 97 cents a year ago. Revenues were $269.8 million for the full year, down around 21% year over year.
Financials
The company ended 2022 with cash and cash equivalents of roughly $64.4 million, down around 87% year over year. Long-term debt was $674.9 million, up around 118% year over year.
Outlook
The company expects total revenues to rise 95-100% year over year in 2023. It expanded its Technology Access partnerships by entering into an agreement with Givaudan for beauty and personal care. AMRS expects the transaction with Givaudan to generate $200 million of license revenues in the second quarter of 2023. The company also expects its consumer brands to continue to deliver industry leading growth in skin care, hair care, color cosmetics, baby care and healthy aging.
Amyris sees capital expenditure of $55 million for 2023, down 50% from 2022.
Price Performance
Amyris’ shares are down 72% in a year compared with an 8.7% decline recorded by the industry.
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Zacks Rank & Stocks to Consider
Amyris carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Steel Dynamics, Inc. STLD, Olympic Steel, Inc. ZEUS and Nucor Corporation NUE.
Steel Dynamics currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for STLD's current-year earnings has been revised 20.1% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Steel Dynamics’ earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 11.3%, on average. STLD has gained around 26% in a year.
Olympic Steel currently sports a Zacks Rank #1. The Zacks Consensus Estimate for ZEUS's current-year earnings has been revised 60.6% upward in the past 60 days.
Olympic Steel’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 26.2%, on average. ZEUS has rallied around 37% in a year.
Nucor currently carries a Zacks Rank #1. The Zacks Consensus Estimate for NUE’s current-year earnings has been revised 10.7% upward in the past 60 days.
Nucor beat Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 7.7% on average. NUE’s shares have gained roughly 7% in the past year.
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