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Marrone (MBII) Expands the Existing Inventory Line of Credit

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Marrone Bio Innovations Inc. MBII recently announced the expansion of its existing inventory line of credit to support projections for growth in sales and manufacturing capacity. It can access a maximum of $4.5 million to fund inventory needs, up from $3 million under a prior deal per an amended agreement with LSQ Funding Group, L.C.

Marrone stated that the increase in the line of credit for inventory provides it with greater flexibility to support commercial expansion in the near future. This is important as the company enters the peak selling season in North American markets to ensure it has the ability to provide customers with ready access to its products when they need them.

Shares of Marrone have declined 41.5% in the past year against a 7.3% rise of the industry.

Zacks Investment Research
Zacks Investment Research

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Marrone, in its last earnings call, stated that it expects revenue growth in the low double-digit to mid-teens range for 2021, factoring in the uncertainties in the agricultural markets. MBII continues to expect its product mix to deliver annual gross margins in the upper 50% range. It also expects operating expenses in line with 2020 levels, plus inflation.

Zacks Rank & Key Picks

Marrone currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation ALB, Commercial Metals Company CMC and AdvanSix Inc. ASIX.

Albemarle, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 33.2% in a year.

Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.

Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing the same once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 64.4% in a year.

AdvanSix has a projected earnings growth rate of 3.9% for the current year. The Zacks Consensus Estimate for ASIX’s earnings for the current year has been revised 1.6% upward in the past 60 days.

AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 105.8% in a year. It currently carries a Zacks Rank #2.


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