Adecoagro S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:05 pm EST
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Adecoagro S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 75.91 million compared to USD 22.55 million a year ago. Basic earnings per share from continuing operations was USD 0.708 compared to USD 0.205 a year ago. Diluted earnings per share from continuing operations was USD 0.705 compared to USD 0.205 a year ago.
For the nine months, net income was USD 143.75 million compared to USD 104.89 million a year ago. Basic earnings per share from continuing operations was USD 1.338 compared to USD 0.949 a year ago. Diluted earnings per share from continuing operations was USD 1.334 compared to USD 0.946 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. 
