IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Seeds and traits

American Vanguard warns on second-quarter earnings

10:52 AM MDT | July 21, 2014 | Rebecca Coons

American Vanguard announced on Friday that lower-than-normal purchasing of corn inputs and reduced production levels at the company's manufacturing facilities will affect its second-quarter 2014 financial performance. Net sales for the quarter will be approximately 21% below those of the comparable period in 2013, and reported net earnings are expected to be near breakeven, the company says. As was reported previously, surplus inventory of corn products in the agriculture distribution channel has significantly lowered restocking procurement from manufacturers...

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