Bioceres reports Q1 revenue $116.6M, consensus $123.81M

Federico Trucco, Bioceres’ Chief Executive Officer, commented: “The first quarter of fiscal 2023 was a record-setting quarter in which we nearly doubled revenues as compared to the prior year period. Part of our growth during 1Q23 resulted from anticipated 2Q23 sales, as weather conditions were quickly deteriorating in our main LATAM market, which ultimately positioned us to mitigate part of the effects of what became a historical drought, extending through the next three quarters. With rain patterns now normalized and plantings in our main markets progressing at full force, we have regained our momentum, as reflected in our 1Q24 financial performance – momentum we expect will accelerate in subsequent quarters.”