Mission Produce (AVO) Shares Skyrocket, What You Need To Know [Yahoo! Finance]
Mission Produce, Inc. (AVO)
Company Research
Source: Yahoo! Finance
blew past analysts' revenue, adjusted EBITDA, and EPS expectations. Despite the difficult macro environment (including challenges in its farming operations in Peru due to poor growing conditions caused by El Niño and disruptions in Mexico), revenue grew 24% year on year, benefiting from a 36% increase in avocado prices. The improved pricing was reflected in profitability ratios as EBITDA grew by 49% year on year. It turned out that consumers might also be developing a sweet tooth for other fruit, as volumes in the mango category saw a 40% increase, with revenues doubling to $14 million. Moving on, the company expects the topline to be impacted by the issues in Peru, with avocado volumes projected to be flat to slightly lower than industry volumes in the fourth quarter. However, avocado prices are expected to remain elevated relative to the previous year, likely offsetting the anticipated volume decline. Overall, this was a solid quarter. Peer Calavo (CVGW) also had a constructive
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AVO
News
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AVO
Earnings
- 9/9/24 - Beat
AVO
Sec Filings
- 11/13/24 - Form 8-K
- 11/8/24 - Form SC
- 11/7/24 - Form 144
- AVO's page on the SEC website