Research Desk Line-up: Marrone Bio Innovations Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 11, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Agrium Inc. (NYSE: AGU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AGU, following the Company's release of its financial results on August 9, 2017 for the second quarter fiscal 2017. The Company's EBITDA increased 1.7% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Agricultural Chemicals industry. Pro-TD has currently selected Marrone Bio Innovations, Inc. (NASDAQ: MBII) for due-diligence and potential coverage as the Company provided on August 14, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Marrone Bio Innovations when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AGU; also brushing on MBII. With the links below you can directly download the report of your stock of interest-free of charge at:
For three months ended June 30, 2017, Agrium's revenue decreased 1% on a y-o-y basis to $6.32 billion from $6.42 billion in Q2 FY16. The revenue surpassed analysts' expectations of $6.19 billion.
During Q2 FY17, the Company's gross profit was $1.53 billion, at par with $1.53 billion in Q2 FY16. For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) were $636 million, at par with $636 million in Q2 FY16. During Q2 FY17, Agrium's EBITDA increased 1.7% to $1.01 billion from $993 million in Q2 FY16.
For the reported quarter, Agrium's effective tax rate was 28.5% compared to 27.5% in Q2 FY16.
During Q2 FY17, Agrium's net income decreased 1.2% to $558 million on a y-o-y basis from $565 million in Q2 FY16. For the reported quarter, the Company's diluted EPS decreased 1.2% to $4.03 on a y-o-y basis from $4.08 in Q2 FY16. During Q2 FY17, the Company's adjusted diluted EPS decreased 2.2% to $4.09 on a y-o-y basis from $4.18 in Q2 FY16. The adjusted EPS surpassed analysts' expectations of $4.04.
On August 10, 2017, the Company's Board of Directors declared a dividend of $0.88 payable on October 19, 2017, to shareholders of record as on September 29, 2017.
Agrium's Segment Details
Retail - During Q2 FY17, the Retail segment's revenue decreased 1.4% to $5.71 billion from $5.79 billion in Q2 FY16. The decrease was due to lower crop nutrient prices. During Q2 FY17, the segment's Crop Nutrients revenue decreased 9% to $1.99 billion on a y-o-y basis and crop Protection Products' revenue remained almost flat at $2.24 billion. For the reported quarter, the segment's gross profit increased 1.6% to $1.30 billion from $1.28 billion in Q2 FY16. During Q2 FY17, the segment's EBIT increased 3.6% to $700 million from $676 million in Q2 FY16. The segment's EBITDA increased 3.6% to $771 million in Q2 FY17 from $744 million in Q2 FY16.
Wholesale - During Q2 FY17, the Wholesale segment's revenue decreased 3.9% to $848 million from $882 million in Q2 FY16. During Q2 FY17, the segment's Nitrogen's revenue decreased 1% to $368.47 million on a y-o-y basis. For the reported quarter, the segment's gross profit decreased 2.5% to $196 million from $201 million in Q2 FY16. During Q2 FY17, the segment's EBIT decreased 2.8% to $175 million from $180 million in Q2 FY16. For the reported quarter, the segment's EBITDA increased 39 basis points to $255 million from $254 million in Q2 FY16.
As on June 30, 2017, Agrium's cash and cash equivalents decreased 23% to $319 million from $412 million in Q4 FY16.
During Q2 FY17, the Company's inventories decreased 12% to $2.85 billion from $3.23 billion in Q4 FY16.
During Q2 FY17, Agrium's accounts payable decreased 11% to $4.16 billion from $4.66 billion in Q4 FY16.
During Q2 FY17, the Company's long-term debt was $4.40 billion compared to $4.41 billion in Q2 FY16.
For the reported quarter, the Company's cash provided by operating activities was negative $115 million compared to positive $95 million in Q2 FY16.
For FY17, Agrium expects diluted EPS to be in the range of $4.75-$5.25 and expects tax rate to be in the range of 27%-29%.
The Company estimates capital expenditure to be in the range of $650 million-$700 million.
Agrium's share price finished last Friday's trading session at $99.76, slightly advancing 0.02%. A total volume of 151.75 thousand shares have exchanged hands. The Company's stock price advanced 5.07% in the last three months, 2.33% in the past six months, and 3.83% in the previous twelve months. Shares of the Company have a PE ratio of 24.03 and have a dividend yield of 3.51%. The stock currently has a market cap of $13.64 billion.
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