Mission Produce, Inc. Common Stock (AVO)
Mission Produce, Inc. (AVO) is a global leader in the avocado industry, specializing in the sourcing, ripening, and distribution of avocados. The company operates across the entire supply chain, from growing operations to worldwide distribution, and focuses on delivering fresh, high-quality avocados to markets around the world. Founded in 2005, Mission Produce is committed to sustainable practices and innovation within the agricultural sector.
Company News
Mission Produce, a leading global avocado supplier, has inaugurated a new state-of-the-art packhouse in Guatemala to enhance its year-round avocado supply. The facility is designed to maintain high quality standards and increase the company's ability to meet growing global demand for avocados.
Mission Produce reported strong Q3 results, with a 24% revenue boost driven by a 36% increase in avocado prices, despite a 10% drop in sales volume. Management expects avocado prices to come down in Q4 but remain above prior-year levels.
Lavoro Limited (LVRO) delivered earnings and revenue surprises of -1,400% and 20.10%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Bad news for guacamole lovers: Mission Produce says avocado prices will go up this quarter.
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