Mission Produce (NASDAQ:AVO) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Mission Produce (NASDAQ:AVO) announced its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09, Briefing.com reports. The business had revenue of $334.20 million for the quarter, compared to the consensus estimate of $285.60 million. Mission Produce had a net margin of 2.97% and a return on equity of 8.48%. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

Mission Produce Trading Down 1.3 %

AVO traded down $0.15 during trading hours on Monday, reaching $11.81. 513,178 shares of the company’s stock traded hands, compared to its average volume of 264,610. The firm has a 50-day moving average price of $12.33 and a 200 day moving average price of $12.51. The firm has a market capitalization of $839.36 million, a PE ratio of 23.16 and a beta of 0.47. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.23. Mission Produce has a 52-week low of $9.54 and a 52-week high of $15.25.

Insiders Place Their Bets

In other Mission Produce news, CFO Bryan E. Giles sold 15,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.40, for a total value of $216,000.00. Following the completion of the sale, the chief financial officer now directly owns 122,137 shares of the company’s stock, valued at $1,758,772.80. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay A. Pack sold 59,165 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $869,725.50. Following the transaction, the director now directly owns 1,015,160 shares in the company, valued at approximately $14,922,852. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,252 shares of company stock worth $3,256,786 over the last quarter. Company insiders own 35.41% of the company’s stock.

Mission Produce Company Profile

Mission Produce, Inc 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. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.