Bioceres reports Q2 adjusted EBITDA $10.3M vs. $18.3M y/y

Reports Q2 revenue $94.4M, consensus $92.0M. Mr. Federico Trucco, CEO, commented: "As we anticipated during our prior earnings call, our growth momentum has been transiently interrupted by unusually severe drought conditions in Argentina, which extended throughout the entire planting window for summer crops. Although we are flat when compared with last year’s revenue for the quarter, we are down by 7% year-over-year for this three-month period on a pro forma basis after including Pro Farm’s operations. This circumstantial decline interrupts a run of seven consecutive quarters of top-line growth and profitability expansion, which we expect to resume in the second half of the fiscal year as weather conditions have turned more favorable in our key commercial regions."