Raven Industries Drops on Applied Technology Segment Struggles
Raven Industries (NASDAQ: RAVN) released fiscal second-quarter 2020 results on Thursday after the market closed. With echoes of the near-term headwinds that laced last quarter's underwhelming report, the company detailed broad-based revenue and earnings declines from each of its three business segments. A closer look at Raven's results shows the brunt of the blame can be placed on its Applied Technology business, where an unusually wet planting season in the U.S. negatively impacted demand for its industry-leading precision agriculture equipment.
With shares of the mini-industrial conglomerate down around 4% in after-hours trading right now, let's take a closer look at what Raven had to say about its Q2 performance.
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Source Fool.com
