AquaBounty reports Q1 EPS (7c), consensus (8c)

Reports Q1 revenue $962,881, consensus $670,000. "We continued to see growth in the commercial production of our GE Atlantic salmon in the first quarter, harvesting 133 tons of live weight salmon in the aggregate from our farms in Albany, Indiana and Prince Edward Island, Canada - a 46% improvement over the previous quarter," said Sylvia Wulf, Chief Executive Officer of AquaBounty. "As we increase our harvest capacity, our customers are purchasing the entire output. This illustrates the strong demand for our product in the marketplace. To support the robust demand growth we are experiencing, we are working to maximize harvest yields at our current farms, without sacrificing product quality. We are also making exciting progress on our next-generation 10,000 metric ton farm in Pioneer, Ohio. We have incorporated "lessons learned" from our existing farms into the design and engineering of the Ohio farm. Pre-construction activities including the construction of roadways, on-site energy infrastructure and land preparation are well underway. With the completion of our groundbreaking ceremony in late April, we are set to begin the next phase of construction work in the near-term, with the continued expectation that the facility will be largely completed, and the stocking of salmon eggs will commence in late 2023."