Arcadia Biosciences (RKDA) Q2 Earnings Miss, Increase Y/Y

Zacks08-14

Arcadia Biosciences RKDA reported adjusted earnings of 78 cents per share in the second quarter of 2024, which missed the Zacks Consensus Estimate of $1.27. RKDA reported an adjusted loss of $2.64 per...

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RKDA reported an adjusted loss of $2.64 per...</p>\n\n<a href=\"https://finance.yahoo.com/news/arcadia-biosciences-rkda-q2-earnings-150200084.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Arcadia Biosciences (RKDA) Q2 Earnings Miss, Increase Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArcadia Biosciences (RKDA) Q2 Earnings Miss, Increase Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-14 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/arcadia-biosciences-rkda-q2-earnings-150200084.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Arcadia Biosciences RKDA reported adjusted earnings of 78 cents per share in the second quarter of 2024, which missed the Zacks Consensus Estimate of $1.27. RKDA reported an adjusted loss of $2.64 per...</p>\n\n<a href=\"https://finance.yahoo.com/news/arcadia-biosciences-rkda-q2-earnings-150200084.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CTVA","symbol_name":"Corteva, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/arcadia-biosciences-rkda-q2-earnings-150200084.html","article_id":"2459910050","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2459910050","pubTimestamp":1723647720,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Arcadia Biosciences RKDA reported adjusted earnings of 78 cents per share in the second quarter of 2024, which missed the Zacks Consensus Estimate of $1.27. RKDA reported an adjusted loss of $2.64 per share in the second quarter of 2023.During the quarter, Arcadia sold its GoodWheat brand to Above Food Corp. for net payments of $4 million over the next three years. The brand was launched in 2018 to help increase the amount of fiber in food items using Arcadia’s patented non-GMO wheat grain, which is naturally higher in fiber and protein.The company also sold its Resistant Starch  Durum trait to Corteva Agriscience, a subsidiary of Corteva CTVA, for $4 million in cash. Arcadia and Corteva had teamed up in 2017 to develop and commercialize RS Durum in North America.Arcadia Biosciences, Inc. Price, Consensus and EPS Surprise. Arcadia Biosciences, Inc. price-consensus-eps-surprise-chart | Arcadia Biosciences, Inc. Quote. Arcadia Biosciences recognized a $4 million gain from the abovementio","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CTVA":"Corteva, Inc.","RKDA":"阿凯迪亚生物科学"},"translate_title":"Arcadia Biosciences(RKDA)第二季度盈利未达预期，同比增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RKDA":1,"CTVA":0.9},"content_text":"Arcadia Biosciences RKDA reported adjusted earnings of 78 cents per share in the second quarter of 2024, which missed the Zacks Consensus Estimate of $1.27. RKDA reported an adjusted loss of $2.64 per share in the second quarter of 2023. \nDuring the quarter, Arcadia sold its GoodWheat brand to Above Food Corp. for net payments of $4 million over the next three years. The brand was launched in 2018 to help increase the amount of fiber in food items using Arcadia’s patented non-GMO wheat grain, which is naturally higher in fiber and protein.\nThe company also sold its Resistant Starch (“RS”) Durum trait to Corteva Agriscience, a subsidiary of Corteva CTVA, for $4 million in cash. Arcadia and Corteva had teamed up in 2017 to develop and commercialize RS Durum in North America.\nNet sales were $1.3 million, which marked a slight uptick of 0.7% from the year-ago quarter, driven by higher Zola sales, offset by a decline in GLA sales. The top line beat the Zacks Consensus Estimate of $1 million.\nThe company announced that Zola coconut water sales were up 42% year over year, with the brand continuing to dominate the coconut water category. Also, new pineapple and lime flavors began shipping in the second quarter. Backed by customer preference for Zola, the company plans to continue investing in trial-driving activities and expand distribution of the brand through mass market retailers and grocery store chains.\n\nArcadia Biosciences, Inc. Price, Consensus and EPS Surprise\n\nArcadia Biosciences, Inc. price-consensus-eps-surprise-chart | Arcadia Biosciences, Inc. Quote\n\nThe cost of revenues dipped 2.6% year over year to $0.63 million. Research and development expenses were $0.01 million compared with $0.03 million in the year-ago quarter. Selling, general and administrative (SG&A) expenses surged 29% from the prior year to $2.68 million due to higher consulting and legal expenses associated with the Corteva and Above Food transactions. \nAdjusted operating expenses increased 21% year over year to $3.33 million, mainly reflecting higher SG&A expenses. \nArcadia Biosciences recognized a $4 million gain from the abovementioned asset sale to Corteva. Including this, operating expenses were $0.67 million in the second quarter.\nCash Position\nAt the end of the second quarter, RKDA’s cash and cash equivalents were $5.5 million compared with $6.5 million in 2023-end. It used $5.7 million of cash in operating activities in the first half of 2024 compared with a cash outflow of $8.3 million in the prior-year comparable period.\nThe company also announced that following the departure of Stan Jacot, Thomas J. Schaefer has been appointed president and CEO of Arcadia.\nPrice Performance\nRKDA shares have lost 29% over the past year compared with the industry's 3.5% decline.\nImage Source: Zacks Investment Research\nZacks Rank\nArcadia Biosciences currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformances of Other Agricultural Products Stocks\nBunge Global SA BG reported second-quarter adjusted earnings per share of $1.73, which missed the Zacks Consensus Estimate of $1.79. The bottom line marked a 53% plunge from earnings of $3.72 per share in the year-ago quarter.\nBG reported net sales of $13.41 billion, down 12% from $15.05 billion in the year-ago quarter. The top line missed the consensus estimate of $13.69 billion.\nWest Fraser Timber Co. Ltd. WFG posted adjusted earnings of $1.20 per share in the second quarter, which missed the Zacks Consensus Estimate of $1.29. The company posted a loss of 3 cents per share in the year-ago quarter.\nWFG posted revenues of $1.705 billion, which beat the Zacks Consensus Estimate of $1.618 billion. Revenues were up 4.8% year over year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBunge Global SA (BG) : Free Stock Analysis Report\nArcadia Biosciences, Inc. (RKDA) : Free Stock Analysis Report\nCorteva, Inc. (CTVA) : Free Stock Analysis Report\nWest Fraser Timber Co. Ltd. (WFG) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2459910050"}