S&W

S&W Announces Second Quarter Fiscal 2024 Financial Results

Retrieved on: 
Wednesday, February 14, 2024

Revenue for the second quarter of fiscal 2024 was $10.9 million, a 16.0% decrease compared to the second quarter of fiscal 2023.

Key Points: 
  • Revenue for the second quarter of fiscal 2024 was $10.9 million, a 16.0% decrease compared to the second quarter of fiscal 2023.
  • Double TeamTM sorghum revenue was $4.0 million in the second quarter of fiscal 2024 compared to $1.2 million in the second quarter of fiscal 2023.
  • Gross profit margin for the second quarter of fiscal 2024 was 30.3%, an improvement from 21.3% in the second quarter of fiscal 2023.
  • Total revenue for the second quarter of fiscal 2024 was $10.9 million compared to total revenue for the second quarter of fiscal 2023 of $12.9 million.

Crete Mechanical Group Enters Nashville Market by Partnering With S&W Contracting

Retrieved on: 
Monday, November 13, 2023

MURFREESBORO, Tenn., Nov. 13, 2023 /PRNewswire/ -- Crete Mechanical Group ("Crete"), a leading nationwide multi-service building solutions provider, is thrilled to announce its strategic partnership with S&W Contracting Company ("S&W"), a specialized electrical company based in Tennessee. This collaboration marks Crete's entry into the Nashville and Murfreesboro markets.

Key Points: 
  • Crete Mechanical Group ("Crete") is thrilled to announce its strategic partnership with S&W Contracting Company ("S&W"), a specialized electrical company based in Tennessee.
  • MURFREESBORO, Tenn., Nov. 13, 2023 /PRNewswire/ -- Crete Mechanical Group ("Crete"), a leading nationwide multi-service building solutions provider, is thrilled to announce its strategic partnership with S&W Contracting Company ("S&W"), a specialized electrical company based in Tennessee.
  • The partnership with Crete represents a significant opportunity to expand the scope of services and reach new heights in the Nashville market.
  • This partnership allows us to provide exceptional electrical services to the Nashville area," said Mike Cox, Chief Executive Officer at Crete.

S&W Announces First Quarter Fiscal 2024 Financial Results

Retrieved on: 
Thursday, November 9, 2023

Revenue for the first quarter of fiscal 2024 was $16.4 million, a 17.3% decrease compared to the first quarter of fiscal 2023.

Key Points: 
  • Revenue for the first quarter of fiscal 2024 was $16.4 million, a 17.3% decrease compared to the first quarter of fiscal 2023.
  • Double TeamTM sorghum revenue was $0.5 million in the first quarter of fiscal 2024 compared to $0.0 million in the first quarter of fiscal 2023.
  • GAAP gross profit margin for the first quarter of fiscal 2024 was 30.5%, an improvement from 22.7% in the first quarter of fiscal 2023.
  • Operating expenses were $7.9 million for the first quarter of fiscal 2024, which is consistent with operating expenses for the first quarter of fiscal 2023.

Titan America Snags Five Key Awards at ConcreteWorks

Retrieved on: 
Wednesday, October 4, 2023

Titan America scores numerous awards for excellence in safety, energy efficiency, innovation, and quality.

Key Points: 
  • Titan America scores numerous awards for excellence in safety, energy efficiency, innovation, and quality.
  • Rounding out the recognitions are two NRMCA Producer Excellence in Quality Awards bestowed upon S&W Ready Mix Concrete and Titan Florida Concrete.
  • "We are gratified by the receipt of these awards from our peers in PCA and NRMCA," said Bill Zarkalis, President & Chief Executive Officer of Titan America.
  • "Safety, energy efficiency and forging innovative breakthrough solutions for our customers are manifestations of our commitment to excellence at Titan America and we pledge continuous advancement in these vital areas."

Sustainability, Water Focus of Sorghum Industry Meeting

Retrieved on: 
Thursday, September 28, 2023

LUBBOCK, Texas, Sept. 28, 2023 /PRNewswire/ -- Sorghum industry members – including representatives from National Sorghum Producers (NSP), United Sorghum Checkoff Program (USCP), Texas Tech University (TTU) – Davis College and S&W Seed Company (Nasdaq: SANW) – met Friday, Sept. 15, at the TTU Innovation Hub to discuss the state of the U.S. sorghum industry and consider the need for technology. S&W Seed facilitated the meeting to encourage collaboration among the many organizations with a vested interest in sorghum.

Key Points: 
  • S&W Seed facilitated the meeting to encourage collaboration among the many organizations with a vested interest in sorghum.
  • "However, sorghum is a uniquely equipped crop as you can produce grain with about 25 percent less water than corn.
  • Advocating for U.S. sorghum growers and creating demand for sorghum in the U.S. and abroad has been a key focus for both NSP and USCP.
  • The two organizations work in tandem to advance the U.S. sorghum industry while driving consumer awareness of the crop.

S&W Announces Fiscal 2023 Financial Results

Retrieved on: 
Wednesday, September 27, 2023

LONGMONT, Colo., Sept. 27, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced financial results for the fiscal year ended June 30, 2023.

Key Points: 
  • LONGMONT, Colo., Sept. 27, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced financial results for the fiscal year ended June 30, 2023.
  • Double Team™ sorghum revenue was $6.5 million in fiscal 2023, compared to $2.4 million in fiscal 2022.
  • Total revenue for fiscal 2023 was $73.5 million, compared to total revenue for fiscal 2022 of $71.4 million.
  • Adjusted EBITDA (see Table B) for fiscal 2023 was $(9.3) million, compared to adjusted EBITDA of $(23.6) million for fiscal 2022.

S&W Announces Appointment of Mark Herrmann as Chief Executive Officer Following Retirement of Mark Wong

Retrieved on: 
Monday, June 26, 2023

LONGMONT, Colo., June 26, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced the appointment of seed industry veteran Mark Herrmann as Chief Executive Officer, effective July 1, 2023, following the planned retirement of current CEO, Mark Wong. Wong will continue to serve as a member of S&W's Board of Directors.

Key Points: 
  • LONGMONT, Colo., June 26, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced the appointment of seed industry veteran Mark Herrmann as Chief Executive Officer, effective July 1, 2023, following the planned retirement of current CEO, Mark Wong.
  • "We are excited to announce the appointment of Mark Herrmann, one of the agricultural seed industry's leading executives, as S&W's new CEO," commented Alan Willits, Chairman of S&W.
  • "Mark has a strong track record building and growing seed businesses into crop leadership positions, with a specific focus on trait technology.
  • Since January 2021, Herrmann has served as president and founder of Acumen Seed Executive Consulting LLC, a seed executive consulting firm.

S&W Looks to Unlock Value of International Operations

Retrieved on: 
Thursday, May 11, 2023

LONGMONT, Colo., May 11, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced that its Board of Directors is evaluating potential avenues to unlock what the Company sees as unrecognized value in its international operations, which are headquartered within the Company's Australian subsidiary.

Key Points: 
  • LONGMONT, Colo., May 11, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced that its Board of Directors is evaluating potential avenues to unlock what the Company sees as unrecognized value in its international operations, which are headquartered within the Company's Australian subsidiary.
  • Mark Wong, CEO, commented: "As part of the overall review of our business commenced last May, we have been looking to maximize value for shareholders through our primary business units: US, International, Camelina and Stevia.
  • Our Australian team has been dedicated to improving and optimizing our international operations over the past several years, and we believe they have created substantial value that is currently not being recognized by the broader markets.
  • We believe now is the right time for us to conduct an accelerated review of our international operations, with a view towards evaluating potential strategic opportunities that could unlock unrecognized value for the benefit of all our stakeholders."

S&W Announces Transition of Betsy Horton to Board of Directors

Retrieved on: 
Thursday, April 27, 2023

LONGMONT, Colo., April 27, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced the transition of Elizabeth (Betsy) Horton to the Company's board of directors following her resignation as the Company's Chief Financial Officer. Ms. Horton will serve as a director of the Company until the 2023 Annual Meeting of Stockholders, and until her successor is duly elected and qualified, or until her earlier death, resignation or removal. 

Key Points: 
  • Horton to resign as Chief Financial Officer; Company appoints agricultural industry veteran Vanessa Baughman as the Company's Interim Chief Financial Officer
    LONGMONT, Colo., April 27, 2023 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural company, today announced the transition of Elizabeth (Betsy) Horton to the Company's board of directors following her resignation as the Company's Chief Financial Officer.
  • The Company appointed Vanessa Baughman as the Company's Interim Chief Financial Officer and corporate Secretary, effective concurrent with the end of Ms. Horton's tenure as Chief Financial Officer.
  • I look forward to that continued counsel as she transitions to her role as a member of the S&W board."
  • "I am appreciative of the Corporate Governance and Nominating Committee's recommendation to have me join the board of S&W.

S&W Announces Second Quarter Fiscal 2023 Financial Results

Retrieved on: 
Monday, February 13, 2023

Total revenue for the second quarter of fiscal 2023 was $12.9 million, compared to total revenue for the second quarter of fiscal 2022 of $12.6 million.

Key Points: 
  • Total revenue for the second quarter of fiscal 2023 was $12.9 million, compared to total revenue for the second quarter of fiscal 2022 of $12.6 million.
  • GAAP gross margins for the second quarter of fiscal 2023 were 21.3% compared to GAAP gross margins of 13.1% in the second quarter of fiscal 2022.
  • GAAP operating expenses for the second quarter of fiscal 2023 were $9.0 million, compared to $10.6 million in the second quarter of fiscal 2022.
  • Adjusted EBITDA (see Table B) for the second quarter of fiscal 2023 was $(4.6) million, compared to adjusted EBITDA of $(6.6) million in the second quarter of fiscal 2022.