Lavoro (LVRO, LVROW) posted a first quarter net loss of R$267.1 million, compared to a loss of R$71.0 million in the prior year quarter. Adjusted net loss was R$269.2 million, compared to adjusted net loss of R$42.9 million. Adjusted EBITDA decreased 5% to R$54.4 million. Revenue decreased by 13% year-over-year to R$2.05 billion.
Ruy Cunha, CEO of Lavoro, said, "Our first quater results reflect a continuation of the trends observed in recent quarters across our operating segments, with strong growth in Crop Care, relative stability for Latam Ag Retail despite market headwinds, and gradual gross margin recovery in Brazil Ag Retail, which expanded by 350 basis points year-over-year."
Lavoro revised guidance for fiscal 2025 as a result of recent disruptions caused by the sudden tightening of inventory financing conditions impacting Brazil operations. Consolidated revenue is now projected to range between R$6.50 billion to R$7.50 billion, and for consolidated Inputs revenue to range between R$5.90 billion and R$6.90 billion. Lavoro no longer expects adjusted EBITDA to grow relative to fiscal 2024. Previously, Lavoro' outlook was for consolidated revenue between R$8.60 billion and R$9.20 billion, and Inputs revenue between R$7.70 billion and R$8.30 billion. The company previously projected adjusted EBITDA to grow relative to fiscal 2024.
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