08:38 AM EST, 02/13/2025 (MT Newswires) -- Ceres Global ( CERGF ) on Thursday said it swung to a loss in the second quarter and reported a decrease in revenue citing challenging macroeconomic environment and harvest conditions.

The company reported a net loss for the three months ended Dec. 31, of US$379,000 compared with net income of US$2.7 million, a year earlier. The loss per basic share was US$0.01 compared with a year-ago profit per basic share of US$0.09.

Total revenue for the quarter decreased to US$219.95 million compared with US$282.2 million, a year earlier.

Ceres Interim Chief Executive Tom Coyle said, "As we navigate the shifting landscape of tariffs under the new U.S. administration, we anticipate potential disruptions in existing trade flows between the U.S., Mexico, and Canada. To address the uncertainty, we are proactively adjusting our trading strategies and market positioning to adapt to changing conditions."

The company added it will be monitoring weather conditions and planting forecasts for the Corn Belt, Northern Plains, and Canadian Prairies with winter drawing to a close, to best position the company for the year ahead.