Bioceres Crop Solutions (BIOX) has released an update.
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Bioceres Crop Solutions reported a decrease in total revenue to $84.0 million in Q3 2024 from $93.6 million in the previous year, attributed to a smaller compensatory payment from Syngenta, despite modest operational growth. The company’s GAAP net income for the quarter was $9.8 million with an adjusted EBITDA of $21.1 million, both lower than last year due to the reduced Syngenta payment, partially balanced by stronger operational results. CEO Federico Trucco expressed confidence in achieving double-digit growth, highlighting regulatory approvals and positive feedback for HB4 Soy varieties in Brazil.
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