Yahoo Finance Mission Produce Second Quarter 2024 Earnings: Beats Expectations
Mission Produce (NASDAQ:AVO) Second Quarter 2024 Results
Key Financial Results
Revenue: US$297.6m (up 35% from 2Q 2023).
Net income: US$7.00m (up from US$4.60m loss in 2Q 2023).
Profit margin: 2.4% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue.
EPS: US$0.099 (up from US$0.065 loss in 2Q 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 31%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is expected to decline by 3.3% 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 shares are down 5.9% from a week ago.
Risk Analysis
Before you take the next step you should know about the 1 warning sign for Mission Produce that we have uncovered.
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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.
