AgroFresh Solutions (AGFS) Tops Q2 EPS by 2c
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AgroFresh Solutions Reports Results for Second Quarter and First Half of 2020
August 10, 2020 4:05 PM UTCClosed comprehensive refinancing on July 27, 2020, significantly reducing balance sheet leverage and enhancing flexibility to pursue diversification and growth initiatives Second quarter net sales decreased 5.7% (increased 2.4% on a constant currency basis) versus the prior year period due to isolated impacts of the pandemic that included weakening of local currencies. Gross profit margin increased 100 basis points to 71.7% for the six months ended June 30, 2020 versus the prior year period primarily due to supply chain efficiencies put in place at the end of 2019. Selling, general and administrative expense decreased 17.5% to $26.4 million for the six months... More
