Bioceres Crop Solutions Reports Fiscal First Quarter 2026 Financial and Operational Results

Core Insights - Bioceres Crop Solutions reported total revenues of $77.5 million for the fiscal first quarter 2026, reflecting a 17% decline year-over-year due to a strategic shift away from low-margin sales [1][5][6] - The company experienced a net loss of $7.5 million, compared to a loss of $6.2 million in the same quarter last year, while Adjusted EBITDA increased by 61% to $13.6 million [1][8][6] Financial Performance - Total revenues decreased from $93.2 million in 1Q25 to $77.5 million in 1Q26, with significant declines in Crop Protection (down 16%) and Seed and Integrated Products (down 37%) [4][5] - Gross profit was $36.2 million, a 3% reduction from the previous year, but gross margin improved from 40.2% to 46.7%, indicating a more profitable product mix [4][5][7] - Operating profit for the quarter was $7.1 million, with Adjusted EBITDA showing a substantial increase of 61% year-over-year, reflecting improved margin quality and cost discipline [5][8] Management Commentary - CEO Federico Trucco emphasized the company's focus on improving revenue quality, protecting margins, and maintaining operational discipline, despite challenging conditions in Argentina [3] - The management is prioritizing actions to strengthen the capital structure and enhance financial flexibility while focusing on margin quality and working-capital efficiency [3] Market Conditions - The revenue decline was attributed to a planned reduction in low-margin sales and the timing of sales in certain Latin American markets, particularly Uruguay [6][8] - In Argentina, while there are signs of demand recovery for select products, the overall recovery remains gradual [6][8]