S&W Seed sales sprout slowly

LONGMONT — S&W Seed Co. (Nasdaq: SANW) grew its year-over-year revenue modestly in the third quarter of its 2024 fiscal year, but the Longmont company’s profit in the same period of 2023 turned into a loss in the most recent quarter. 

Revenue for the third quarter of fiscal 2024 was $18.3 million, up a 3.7% from the same quarter in 2023. 

S&W posted a $5.5 million net loss in the most recent period, compared to net income of $32.1 million in the third quarter of 2023. A large part of the company’s income in the year-ago quarter related to the formation of Vision Bioenergy Oilseeds LLC, a joint venture with Equilon Enterprises LLC, part of gas and energy giant Shell USA Inc.’s umbrella of companies.

“As total revenue in the future continues to shift more toward our robust sorghum technology portfolio, including product line extensions and new technology offerings planned over the next year, we expect to see continued margin expansion in support of our near-term goal of profitability,” S&W CEO Mark Herrmann said in a prepared statement.

on Facebook on LinkedIn