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Mission Produce (AVO)
NASDAQ:AVO
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
$0.03Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 19, 2024
|% Change Since: 17.29%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Positive
The call highlighted strong financial performance with record revenue and EBITDA figures, significant cash flow increases, and growth in the Blueberries segment. However, challenges in the International Farming segment due to weather conditions and the closure of facilities in Canada were noted. The approval for Guatemalan avocado imports is a positive strategic development.Company Guidance
During the Mission Produce Fiscal Fourth Quarter 2024 earnings call, the company reported impressive financial metrics, showcasing a strong fiscal year performance. Total revenue for Q4 surged by 37% to $354.4 million, largely due to a 36% increase in avocado sales prices. The company achieved a gross profit increase of $28 million, reaching $55.8 million, with a gross profit margin of 15.7%. Adjusted EBITDA saw a remarkable rise of 113%, amounting to $36.9 million. The company's marketing and distribution segment net sales increased by 35% to $319.6 million, driven by higher avocado pricing, while the Blueberries segment contributed with net sales of $31.6 million. Mission Produce generated $93.4 million in operating cash flow for the fiscal year, marking a $64.2 million increase over 2023. The company's capital expenditures for 2024 were $32.2 million, with a projected 2025 budget of $50 to $55 million. The executives emphasized the importance of their global sourcing network in maintaining robust per-unit margins and ensuring consistent supply to customers, even amidst supply constraints due to weather impacts from El Nino.Record Revenue and EBITDA
Achieved $1.2 billion in revenue and $107.8 million in adjusted EBITDA for fiscal 2024, highlighting the strength of the business model.
Significant Increase in Cash Flow
Operating cash flow increased by $64.2 million, reaching $93.4 million for the fiscal year ended October 31, 2024.
Blueberry Segment Growth
Net sales in the Blueberries segment increased to $31.6 million from $19.5 million in the prior year period, with adjusted EBITDA rising to $8.6 million from $5.4 million.
USDA Approval for Guatemalan Avocados
USDA approved Guatemalan avocado imports into the United States, which supports the expansion strategy in the region.
Improved Gross Profit and Margins
Gross profit increased by $28 million to $55.8 million, with a gross profit margin increase of 490 basis points to 15.7% of revenue.
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AVO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AVO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 19, 2024 | $12.32 | $14.45 | +17.29% |
| Sep 09, 2024 | $10.69 | $12.99 | +21.52% |
| Jun 06, 2024 | $11.44 | $11.15 | -2.53% |
| Mar 11, 2024 | $10.70 | $12.00 | +12.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mission Produce (AVO) report earnings?
Mission Produce (AVO) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Mission Produce (AVO) earnings time?
Mission Produce (AVO) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AVO EPS forecast?
AVO EPS forecast for the fiscal quarter 2025 (Q1) is $0.03.
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