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Oct. 30, 2015, 4:59 PM
- Along with its Q3 results, Solazyme (NASDAQ:SZYM) has announced it's expanding its oil JV with Bunge (NYSE:BG) to develop "a range of breakthrough oils for food and products for animal nutrition."
- Solazyme: "The expanded joint venture will build on Solazyme's ground-breaking microalgae innovation platform, and on Bunge's global leadership in food and ingredients, including vegetable oils. As part of the JV expansion, the partners also entered into an agreement to expand their co-funded research programs to include new unique products in nutrition and specialty fats ... AlgaWise Ultra Omega-9 Algae Oil, AlgaWise High Stability Algae Oil, and AlgaWise"Algae Butter structuring fats will be marketed by Bunge's established global food oil sales and applications team." Manufacturing will occur at a Brazilian Bunge plant.
- Concurrently, Solazyme states it's terminating a partnership with Archer-Daniels-Midland (NYSE:ADM) for producing triglyceride oil products at an Iowa ADM facility. The deal will officially end 120 days after a termination notice date of Oct. 29.
- Solazyme closed sharply higher today after posting a Q3 miss and announcing the Bunge deal expansion. Product revenue fell 21% Y/Y to $9.1M, and R&D program revenue fell 62% to $2.3M. GAAP costs/expenses fell 30% to $37.4M.
- Solazyme's Q3 results, earnings release
Oct. 30, 2015, 7:48 AM
- Solazyme (NASDAQ:SZYM): Q3 EPS of -$0.43 misses by $0.09.
- Revenue of $11.4M (-35.1% Y/Y) misses by $4.83M.
Oct. 29, 2015, 5:30 PM| Oct. 29, 2015, 5:30 PM | 19 Comments
Jul. 30, 2015, 4:15 PM
- Solazyme (NASDAQ:SZYM): Q2 EPS of -$0.40 misses by $0.04.
- Revenue of $11.7M (-26.4% Y/Y) misses by $2.64M.
May 6, 2015, 4:13 PM
- Solazyme (NASDAQ:SZYM): Q1 EPS of -$0.37 beats by $0.03.
- Revenue of $12.6M (+1.7% Y/Y) misses by $4.13M.
Feb. 26, 2015, 4:07 PM
- Solazyme (NASDAQ:SZYM): Q4 EPS of -$0.45 beats by $0.02.
- Revenue of $14.5M (+28.7% Y/Y) misses by $3.2M.
Nov. 6, 2014, 12:28 PM
- Solazyme (SZYM -50.2%) shares are cut in half after the maker of renewable energy products reports below consensus Q3 earnings and is tagged with multiple analyst downgrades.
- Baird lowers its rating on SZYM to Neutral from Outperform, seeing challenges in ramping its Moema facility and likely will no longer reach cash flow breakeven in 2015, which limits its ability to deploy capital for expansion efforts, Baird says as it cuts its share price target to $9 from $16.
- Shares also are downgraded to Market Perform at Pacific Crest, which says SZYM has failed to achieve its cost goals as it struggles to ramp its new Brazil plant, and will now operate at sub-scale in an effort to preserve cash.
Nov. 5, 2014, 4:24 PM
- Solazyme (NASDAQ:SZYM): Q3 EPS of -$0.45 misses by $0.03.
- Revenue of $17.6M (+65.7% Y/Y) misses by $1.91M.
- Shares -2%.
Jul. 30, 2014, 4:11 PM
- Solazyme (NASDAQ:SZYM): Q2 EPS of -$0.43 misses by $0.06.
- Revenue of $15.9M (+42.2% Y/Y) misses by $1.23M.
- Shares +1.83% AH.
May 6, 2014, 3:19 PM
- Solazyme (SZYM -3.8%) is sharply lower but has recovered from early 10% losses after reporting a bigger than expected Q1 loss and revenue of $12.4M fell short of estimates as its first commercial production in Brazil was pushed into the current quarter.
- CEO Jonathan Wolfson expects SZYM to begin commercial production at its Moema, Brazil, facility in the current quarter, after saying in November that would happen in Q1 rather than last year and reiterating the goal in February.
- Analysts estimate revenue of $115M in 2014 and $330M next year, but Q1 results don't appear to indicate a sufficient pick-up in production to reach those expectations.
May 5, 2014, 4:27 PM
- Solazyme (SZYM): Q1 EPS of -$0.44 misses by $0.10.
- Revenue of $12.4M (+85.6% Y/Y) misses by $2.23M.
May 4, 2014, 5:35 PM
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Feb. 27, 2014, 11:04 AM
- Solazyme (SZYM +6.6%) surges higher following Q4 earnings and a price target raise to $17 from $14 by Cowen analysts who see production volume ramping in the latter part of 2014.
- The firm says SZYM's quarterly loss was "essentially in line with [its] expectations” and due to higher expenses as the company ramps up production at its plant in Clinton, Iowa.
- Cowen says 2014 production at Clinton totaled ~500 metric tons, with three different oil-based products scaled up and a fourth underway; Mooema has completed most phases of its startup, as fermentation is running from seed train to 125K liter scale and 600K liter production fermenters should start up in March.
- Shares also may be enjoying some spillover from a surge in biofuel and ethanol names as Pacific Ethanol (PEIX +32.5%) reports favorable news (I, II): BIOF +85.7%, CDTI +9.8%, KIOR +9.5%, REX +2.5%.
Feb. 26, 2014, 4:11 PM
- Solazyme Inc. (SZYM): Q4 EPS of -$0.40 misses by $0.01.
- Revenue of $11.3M (+34.2% Y/Y) misses by $0.81M.
Feb. 26, 2014, 12:10 AM
Solazyme Inc, along with its subsidiaries, is engaged in providing renewable oils and other bioproducts. It commercializes its products into target markets such as chemicals and fuels, nutrition, and skin and personal care.
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