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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About NasdaqGS:AVO
Mission Produce
Engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally.
Excellent balance sheet and slightly overvalued.