S&W Seed edges Wall Street expectations

LONGMONT — S&W Seed Co. (Nasdaq: SANW) beat out Wall Street consensus estimates for its performance in the first quarter of 2021 as it moves into its busiest part of the year.

The Longmont-based producer of crop seeds posted revenues of $32.38 million and an adjusted loss of 5 cents per share in its earnings report Thursday morning. Those figures beat consensus estimates by $4.38 million and 4 cents per share, respectively, according to data compiled by finance site Seeking Alpha.

It posted a net loss of just under $1.85 million.

S&W primarily attributed the growth both to organic increases in sales and the full integration of its Australian acquisition, which closed late last year.

The company focuses on developing seeds for crops such as alfalfa, sorghum, sunflowers and stevia. Those crops tend to be planted in late spring to early summer after the threat of frost subsides.

“With strong tailwinds expected from agricultural commodity prices that are near multi-year highs helping to drive farmer profitability, we are enthusiastic about the market opportunity for the remainder of this fiscal year and into fiscal 2022,” CEO Mark Wong said in a statement.

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