NUF +20.22%: a strong day from the crop protection and seed technology business on the back of a bumper 1st quarter. Quarterly revenue has jumped 36% vs the first quarter last year with good weather driving demand across both segments. Costs pressures are coming through though with higher raw materials and logistics costs softening the bump to earnings however the company is confident it will see revenue and earnings growth for the full year. They’ve also set a $4b revenue target for FY2, a target they have a clear runway to hit with the above market growth.
MM is neutral NUF, but clearly some good momentum in the business
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