Mission Produce (NASDAQ:AVO) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$324.0m (up 24% from 3Q 2023).
- Net income: US$12.4m (up 88% from 3Q 2023).
- Profit margin: 3.8% (up from 2.5% in 3Q 2023). The increase in margin was driven by higher revenue.
- EPS: US$0.17 (up from US$0.093 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Mission Produce Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 40%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is expected to decline by 8.8% p.a. on average during the next 2 years, while revenues in the Food industry in the US are expected to grow by 3.0%.
Performance of the American Food industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for Mission Produce that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqGS:AVO
Mission Produce
Engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, wholesalers, and foodservice customers in the United States and internationally.
Flawless balance sheet and slightly overvalued.
