S&W Seed Co - SANW STOCK NEWS

S&W Seed Company (Nasdaq: SANW) has provided an update regarding the delay in filing its Annual Report on Form 10-K for the fiscal year ended June 30, 2024. The company is addressing reporting requirements related to the previously announced voluntary plan of administration for its wholly-owned subsidiary, S&W Seed Company Australia Pty , adopted on July 24, 2024.

Additionally, during year-end closing procedures, SANW identified that it had not prepared its fiscal year 2024 financial statements to include separate information for its reporting segments. The company is now analyzing the impacts of this change under ASC 250, Accounting Changes and Error Corrections, and is working to prepare all necessary segment disclosures.

S&W Seed Company aims to file its 10-K for the fiscal year ended June 30, 2024, and conduct a conference call as soon as possible.

S&W Seed Company (Nasdaq: SANW) has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended June 30, 2024. The company plans to file a Notification of Late Filing on Form 12b-25 due to the voluntary plan of administration (VA) adopted by its wholly-owned subsidiary, S&W Seed Company Australia Pty , on July 24, 2024.

The delay is attributed to the additional time required to complete and compile the necessary financial information related to the potential outcomes of the VA process and its impact on related disclosures throughout the Annual Report. S&W Seed Company anticipates filing its 10-K and conducting a conference call in early October 2024.

S&W Seed Company (Nasdaq: SANW) announced that CEO Mark Herrmann will participate in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. Herrmann will deliver a webcast presentation at 11:00am ET and host one-on-one meetings with investors throughout the day. The event will be held virtually, with the webcast accessible via the conference home page and available for replay. Investors interested in arranging one-on-one meetings can contact Lytham Partners or register through their website.

S&W Seed Company (NASDAQ: SANW) reported its financial results for the third quarter of fiscal 2024, ending March 31, 2024. Revenue rose by 3.7% to $18.3 million compared to Q3 2023. The gross profit margin improved to 27.4% from 25.1% last year. However, the company posted a GAAP net loss of $5.5 million or $0.13 per share, down from a net income of $32.1 million or $0.75 per share in Q3 2023. Adjusted EBITDA was a loss of $1.2 million, compared to a loss of $0.4 million last year. The company received $6.0 million from Shell for its Vision Bioenergy partnership and $1.4 million from Trigall. International sales expectations were revised downward due to geopolitical issues in the MENA region, estimated to impact revenue by $6.0-$7.0 million. Guidance for fiscal 2024 revenue is $67.0-$70.0 million, with adjusted EBITDA between -$8.5 million and -$6.0 million.

S&W Seed Company has announced the commercial launch of Double Team Forage Sorghum, expanding its sorghum trait technology portfolio. The new product provides forage sorghum growers with an effective grassy weed control option. Double Team Forage Sorghum is projected to be planted on over 10% of all grain sorghum acres in 2024, doubling the previous year's acres. S&W aims to match herbicide solutions in critical crops like corn, wheat, and soybeans.

S&W Seed Company (SANW) will report its third quarter fiscal year 2024 financial results on May 14, 2024. The conference call to review the results will be held on the same day at 11:00 am ET. Interested parties can access the call via phone or live webcast.