Adecoagro S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 17, 2023 at 04:09 pm EDT
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Adecoagro S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was USD 46.27 million compared to USD 19.09 million a year ago. Basic earnings per share from continuing operations was USD 0.43 compared to USD 0.169 a year ago. Diluted earnings per share from continuing operations was USD 0.429 compared to USD 0.168 a year ago.
For the six months, net income was USD 67.84 million compared to USD 82.34 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.744 a year ago. Diluted earnings per share from continuing operations was USD 0.629 compared to USD 0.741 a year ago.
Adecoagro S.A. is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy. Its agricultural activities consist of harvesting certain agricultural products, including crops, rough rice and sugarcane, for sale to third parties and for internal use as inputs in its various manufacturing processes, and producing raw milk. Its manufacturing activities consist of selling manufactured products, including processed rice, sugar, ethanol and energy, among others, and providing services, such as grain warehousing and conditioning and handling and drying services, among others. The Company's land transformation activities consist of the acquisition of farmlands or businesses with underdeveloped or underutilized agricultural land.
ADECOAGRO S.A. 
