Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Q1 2024 Earnings Conference Call November 14, 2023 8:30 AM ET

Company Participants

Paula Savanti – Head of Investor Relations

Federico Trucco – Chief Executive Officer

Enrique Lopez Lecube – Chief Financial Officer

Conference Call Participants

Ben Klieve – Lake Street Capital Market

Bobby Burleson – Canaccord

Andre Adams – Oppenheimer

Kemp Dolliver – Brookline Capital Markets

Operator

Hello, everyone, and welcome to today’s call Bioceres Crop Solutions Fiscal First Quarter 2024 Financial and Operational Results. My name is Ellen, and I will be the call operator for today. All participants’ lines will be muted throughout the presentation. But at the end of the presentation, there will be an opportunity to ask a question. [Operator Instructions]

I would now like to turn the call over to Paula Savanti, Head of Investor Relations to begin. Paula, please go ahead whenever you’re ready.

Paula Savanti

Thank you, and good morning to everyone joining us for today’s call. The presentation today will be led by our Chief Executive Officer, Federico Trucco; and our Chief Financial Officer, Enrique Lopez Lecube. Both of them will be available for the Q&A session following the presentation.

Before we proceed, I would like to make the following Safe Harbor Statement. Today’s call will contain forward-looking statements, and I refer you to the forward-looking statements section of today’s earnings release and presentation, as well as the recent filings with the SEC.

We assume no obligation to update or revise any forward-looking statements to reflect new or changed circumstances. This conference call is being webcast, and the webcast link is available at Bioceres Crop Solutions Investor Relations website.

At this time, I will turn the call over to our CEO, Federico Trucco. Thank you.

Federico Trucco

Thank you, Paula, and good morning, everyone. Thanks for joining us today in our first quarter of fiscal 2024 earnings call.

Please turn to Slide 3 for the main business and financial highlights for this period. Our first quarter of last year was a record setting quarter in which we nearly doubled our revenues when compared to the year before period that is the first quarter of fiscal 2022. Part of last year’s growth resulted from anticipated second quarter sales as weather conditions were quickly deteriorating in our main LATAM market.

In retrospect, this early move allowed us to mitigate part of the effects of what turnout to be a historical drought extending through the next three quarters. We are now happy to say that rains have finally normalized and that planting in our main markets are progressing at full force.