- American Vanguard (AVD +1.7%) says recent purchasing patterns reflecting a "downshift" for corn-related products will hurt Q2 results, but shares nevertheless are pushing higher.
- In AVD's downside guidance for Q2, it sees EPS near break-even vs. $0.10 analyst consensus estimate and revenues down 21% Y/Y to ~$68.6M vs. $80.6M consensus, citing lower than normal purchasing of corn inputs and lower factory utilization rates.
- AVD says channel inventories have been reduced significantly this spring and that more normal purchasing patterns are likely to resume later this year and into next; says it is starting cost reduction programs to right-size manufacturing in-line with forecast product demand.
From other sites
American Vanguard : AMVAC Purchases Global Bromacil Herbicide Business Assets from DuPont Crop Protectionat 4-traders.com (Mon, 1:46AM)
at Zacks.com (Apr 7, 2015)
at Zacks.com (Mar 2, 2015)
at Benzinga.com (Jan 12, 2015)
at Nasdaq.com (Dec 22, 2014)
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