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Amyris (AMRS) Q4 Earnings Lag Estimates, Sales Fall Y/Y
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Amyris, Inc. recorded a loss of 43 cents per share for fourth-quarter 2021, compared with a loss of 44 cents in the year-ago quarter. Loss per share for the reported quarter was wider than the Zacks Consensus Estimate of a loss of 20 cents.
The company registered revenues of $64.8 million for the quarter, down around 19% year over year. The top line in the year-ago quarter included $41.3 million revenues for a one-off strategic transaction with DSM and discontinued ingredients value share.
Revenues from the Consumer segment went up 86% year over year to $32.2 million in the reported quarter. The upside was driven by the accelerated growth of the company’s consumer brands. Revenues consist of record revenues from the company's three legacy brands — Biossance, Pipette, and Purecane — and strong performance of brands introduced during the second half of 2021.
The Technology Access segment raked in revenues of $32.6 million, up around 54% year over year. The upside was mainly driven by revenues from technology licenses attributable to the company’s joint ventures with ImmunityBio and Minerva Foods, which were completed during the quarter.
FY21 Results
Loss for full-year 2021 was 97 cents per share compared with a loss of $1.88 per share a year ago. Revenues were $341.8 million for the full year, up 97% year over year.
Financials
The company ended 2021 with cash and cash equivalents of roughly $483 million, up from $30 million a year ago. Long-term debt was $309 million, up from $26.2 million a year ago.
Outlook
Moving ahead, the company envisions accelerating consumer growth and new partnerships to double its core revenues in 2022. It sees consumer revenues to rise more than 150% year-over-year this year. Revenues from Technology Access are forecast to increase 30-40% year-over-year in 2022.
Amyris also noted that it made a significant progress in the construction of its fermentation plant in Barra Bonita, Brazil, which is expected be operational in the second quarter of 2022. It also continues to broaden and integrate its consumer supply chain. The company anticipates the consumer production consolidation and its Brazil facility to help it address the rising demand for sustainable alternatives to existing chemistry. It expects these investments to meaningfully improve its gross margin, lower operating expenses and offer more flexibility in meeting its production targets.
Price Performance
Shares of Amyris are down 69.8% over a year compared with the industry’s decline of 14.8%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Amyris currently carries a Zacks Rank #5 (Strong Sell).
Better-ranked stocks worth considering in the basic materials space include Cabot Corporation (CBT - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Commercial Metals Company (CMC - Free Report) .
Cabot, carrying a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 15.5% for the current fiscal year. The Zacks Consensus Estimate for CBT for the current fiscal year has been revised 7.8% upward over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 21.6%. CBT shares have popped around 43% in a year.
AdvanSix, carrying a Zacks Rank #1, has an expected earnings growth rate of 17.3% for the current year. ASIX's consensus estimate for current-year earnings has been revised 12.4% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied around 49% in a year.
Commercial Metals, carrying a Zacks Rank #2 (Buy), has a projected earnings growth rate of 62% for the current fiscal year. The Zacks Consensus Estimate for CMC's current fiscal year earnings has been revised 22.7% upward over the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 13.1%, on average. CMC has gained around 39% in a year.
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Amyris (AMRS) Q4 Earnings Lag Estimates, Sales Fall Y/Y
Amyris, Inc. recorded a loss of 43 cents per share for fourth-quarter 2021, compared with a loss of 44 cents in the year-ago quarter. Loss per share for the reported quarter was wider than the Zacks Consensus Estimate of a loss of 20 cents.
The company registered revenues of $64.8 million for the quarter, down around 19% year over year. The top line in the year-ago quarter included $41.3 million revenues for a one-off strategic transaction with DSM and discontinued ingredients value share.
Amyris, Inc. Price, Consensus and EPS Surprise
Amyris, Inc. price-consensus-eps-surprise-chart | Amyris, Inc. Quote
Segment Highlights
Revenues from the Consumer segment went up 86% year over year to $32.2 million in the reported quarter. The upside was driven by the accelerated growth of the company’s consumer brands. Revenues consist of record revenues from the company's three legacy brands — Biossance, Pipette, and Purecane — and strong performance of brands introduced during the second half of 2021.
The Technology Access segment raked in revenues of $32.6 million, up around 54% year over year. The upside was mainly driven by revenues from technology licenses attributable to the company’s joint ventures with ImmunityBio and Minerva Foods, which were completed during the quarter.
FY21 Results
Loss for full-year 2021 was 97 cents per share compared with a loss of $1.88 per share a year ago. Revenues were $341.8 million for the full year, up 97% year over year.
Financials
The company ended 2021 with cash and cash equivalents of roughly $483 million, up from $30 million a year ago. Long-term debt was $309 million, up from $26.2 million a year ago.
Outlook
Moving ahead, the company envisions accelerating consumer growth and new partnerships to double its core revenues in 2022. It sees consumer revenues to rise more than 150% year-over-year this year. Revenues from Technology Access are forecast to increase 30-40% year-over-year in 2022.
Amyris also noted that it made a significant progress in the construction of its fermentation plant in Barra Bonita, Brazil, which is expected be operational in the second quarter of 2022. It also continues to broaden and integrate its consumer supply chain. The company anticipates the consumer production consolidation and its Brazil facility to help it address the rising demand for sustainable alternatives to existing chemistry. It expects these investments to meaningfully improve its gross margin, lower operating expenses and offer more flexibility in meeting its production targets.
Price Performance
Shares of Amyris are down 69.8% over a year compared with the industry’s decline of 14.8%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Amyris currently carries a Zacks Rank #5 (Strong Sell).
Better-ranked stocks worth considering in the basic materials space include Cabot Corporation (CBT - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Commercial Metals Company (CMC - Free Report) .
Cabot, carrying a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 15.5% for the current fiscal year. The Zacks Consensus Estimate for CBT for the current fiscal year has been revised 7.8% upward over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 21.6%. CBT shares have popped around 43% in a year.
AdvanSix, carrying a Zacks Rank #1, has an expected earnings growth rate of 17.3% for the current year. ASIX's consensus estimate for current-year earnings has been revised 12.4% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied around 49% in a year.
Commercial Metals, carrying a Zacks Rank #2 (Buy), has a projected earnings growth rate of 62% for the current fiscal year. The Zacks Consensus Estimate for CMC's current fiscal year earnings has been revised 22.7% upward over the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 13.1%, on average. CMC has gained around 39% in a year.