Adecoagro (AGRO) has released an update.
Adecoagro S.A., a leading South American sustainable production company, reported a solid first quarter in 2024 with an adjusted EBITDA of $90.1 million, marking a 1.1% increase from Q1 2023. Despite a 40.1% drop in adjusted net income to $23.3 million, the company’s gross sales rose by 2.6% and net debt was significantly reduced by 23.0% year-over-year, achieving a net debt to LTM Adjusted EBITDA ratio of 1.3x.
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