CORRECTION – Lavoro Reports Fiscal Third Quarter 2024 Earnings Results¹
Lavoro Limited (LVRO)
Company Research
Source: GlobeNewswire
In a release issued under the same headline earlier this afternoon by Lavoro Limited (Nasdaq: LVRO, LVROW), please note that this version corrects various financial figures to align with the 6-K that was filed this afternoon. The corrected release follows: 3Q24 revenue increased 6% to $514.2 million, driven by continued market share gains and volume growth mitigating ongoing deflation in input prices throughout Brazil and Colombia.Gross profit decreased -16% to $60.2 million. Gross margins narrowed by -310 basis points to 11.7%, primarily due to the ongoing input price deflation and a less favorable sales mix resulting from a greater proportion of low margin Grain revenue.The Crop Care segment remained a strong performer, with revenue2 rising 30% to $22.1 million and gross profit up 14% to $9.1 million, mainly fueled by robust growth in biological products.Net loss for 3Q24 narrowed to $64.8 million from a loss of $74.3 million in the prior year quarter. This improvement reflects the
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- Lavoro Limited (NASDAQ: LVRO) had its price target lowered by analysts at Barclays PLC from $7.00 to $6.00. They now have an "equal weight" rating on the stock.MarketBeat
- Lavoro Limited (NASDAQ: LVRO) had its price target lowered by analysts at Oppenheimer Holdings Inc. from $11.00 to $9.00. They now have an "outperform" rating on the stock.MarketBeat
- Lavoro Reports Fiscal Third Quarter 2024 Earnings Results¹GlobeNewswire
- Lavoro to Announce Fiscal Third Quarter 2024 Results on June 3rd, 2024GlobeNewswire
- Lavoro to Participate in the BMO Global Farm to Market Conference on May 15-16, 2024GlobeNewswire