Rubicon says hurricane damage will cut earnings

Wed, 23 Jan 2019

By Gavin Evans Jan. 24 (BusinessDesk) - Rubicon has cut its earnings guidance, citing a deeper-than-expected impact on its ArborGen business from Hurricane Michael in the US in October. The storm – the third-most intense hurricane to make landfall in the US – wasn’t expected to hurt earnings as only one of ArborGen’s nine orchards in the country’s south was damaged, the company said in October. But today Rubicon chair David Knott said Michael, and other extreme weather in the US south during the December quarter, had impacted expected...

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