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

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

Mission Produce Stock Down 1.3 %

Mission Produce stock traded down $0.15 during mid-day trading on Monday, reaching $11.81. 513,178 shares of the company were exchanged, compared to its average volume of 264,610. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.87. The firm has a market cap of $839.36 million, a P/E ratio of 23.16 and a beta of 0.47. The business has a fifty day moving average of $12.33 and a 200 day moving average of $12.51. Mission Produce has a 12-month low of $9.54 and a 12-month high of $15.25.

Insider Activity

In other news, Director Jay A. Pack sold 59,165 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $14.70, for a total value of $869,725.50. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Barnard sold 103,847 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $14.53, for a total transaction of $1,508,896.91. Following the transaction, the chief executive officer now owns 1,790,966 shares of the company’s stock, valued at approximately $26,022,735.98. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,252 shares of company stock worth $3,256,786. 35.41% of the stock is currently owned by company insiders.

About Mission Produce

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.