S&W Seed beats Wall Street expectations

LONGMONT — Seedmaker S&W Seed Co. (Nasdaq: SANW) beat expectations for its earnings in the first quarter of this year, but warned that COVID-19 might slow down its international growth strategy.

The Longmont maker of alfalfa seeds and hybrids of sunflowers, wheat and sorghum posted revenues of $29.09 million but lost 9 cents per share in the last quarter, beating consensus analyst estimates from finance site Seeking Alpha by $7.9 million and 2 cents per share, respectively.

In a call with analysts, CEO Mark Wong said the company is planning to split its sales and marketing efforts down the middle between its American division and its recently-acquired Australian subsidiary. However, he said the next quarter may be particularly difficult in landing sales due to the greater economic turmoil caused by the coronavirus, along with the potential for shipping disruptions and bottlenecks.

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“There are clearly dislocations in the trucking and the shipping industries overseas, and we’re having to work very, very hard to get containers and trucks and get the seed on time to our many customers all around the world,” he said.