Upstream Ag Professional - August 13th 2023
Essential research and analysis for agribusiness leaders
Welcome to the 4th Edition of Upstream Ag Professional!
Index for the week:
Q2 2023 Agribusiness Earnings Results Highlights and Analysis
Including Bayer CEO comments on culture evolution and Farmers Edge shift in crop input marketplace business model
Bushel 2023 State of the Farm Report
Bushel Extends Series C with $26.25m Raise
Phospholutions Raises $10.15M and What Might We Learn from Anuvia?
Technical Debt in Agriculture: Who’s Responsible? And How Does Agriculture Compare to Other Industries in Spend as a Percentage of Revenue?
Digital Marketing Strategy for Driving Efficiency and Building Stronger Relationships
Meristem Announces Its Next-Generation Bio-Capsule Technology
19 Active Ingredients Coming Off Patent by 2028: What does it mean for ag retailers and how will crop input manufacturers navigate?
Finding Product Market Fit in AgTech with Alain Goubau, CEO of Combyne Ag
The Strategy Lesson from the Bud Light Fiasco
Thank you for reading and for your continued support! If you have any questions or comments, please do not hesitate to reach out to email@example.com.
1. Q2 2023 Agribusiness Earnings Results Highlights and Analysis - Upstream Ag Professional
This week I highlighted publicly traded agribusinesses’ Q2 earnings.
Below you’ll find a summary of key takeaways, and in the link above, you can access the key learnings and takeaways along with the highlights from each company’s results.
On top, there is an overview of Bayer CEO Bill Anderson’s comments surrounding culture and an overview of Farmers Edge new crop input marketplace revenue model.
In order of appearance:
Bayer Crop Science
Syngenta and John Deere have not released their earnings for Q2 yet.
“Destocking” of crop protection products in the channel leading to decreased sales for all crop protection manufacturers.
Fertilizer companies earnings have come back down to earth, down drastically from Q2 2022. However, they are still relatively high when looking at 2021 earnings.
On the equipment manufacturing front, tractor sales were up and pricing was up. On the irrigation equipment front, sales were down, but margins were flat to up.