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July 31, 2014
16:52 EDTAVDAmerican Vanguard reports Q2 EPS 1c, consensus 3c
Reports Q2 revenue $68.3M, consensus $73.07M. The company said, ďAs we previously reported, surplus inventory of corn products in the agriculture distribution channel resulted in significantly lower re-stocking procurement from manufacturers this season. Additionally, as we indicated, reduced production of these products in our manufacturing facilities has resulted in increased unabsorbed fixed factory costs which have negatively impacted profitability for the quarter and year to date. We believe that channel inventories have been reduced significantly this spring and that more normal purchasing patterns are likely to resume for the 2015 season which should start later this year and into the pre-planting months of 2015. We are undertaking cost reduction programs to right-size our manufacturing function with the product demand that we are forecasting."
News For AVD From The Last 14 Days
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April 30, 2015
16:36 EDTAVDAmerican Vanguard reports Q1 EPS 0c, consensus (1c)
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April 29, 2015
16:35 EDTAVDAmerican Vanguard acquires global Bromacil herbicide business assets from DuPont
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