- Mission Produce press release ( NASDAQ: AVO ): Q4 Non-GAAP EPS of $0.13 misses by $0.23 .
- Revenue of $238M (+0.4% Y/Y) misses by $9.64M .
- Adjusted EBITDA of $17.2 million compared to $26.4 million for the same period last year.
- Owned exportable avocado production volume increased 15% to 117 million pounds for the 2022 harvest season.
- Q1 Outlook: The industry is expecting volumes to be higher in the fiscal 2023 first quarter versus the prior year period, primarily due to expectations for a larger Mexican harvest. The overall Mexican crop is expected to be approximately 20% higher compared to the prior harvest season, but early season volumes have lagged that figure due to primarily to low pricing.
- Pricing is expected to be lower on a sequential basis, but consistent with pricing experienced in the latter part of the prior quarter, which would imply a year-over-year decrease of approximately 20-25% compared to the $1.56 per pound average experienced in first quarter of fiscal 2022
- Shares -7.67% .
For further details see:
Mission Produce Non-GAAP EPS of $0.13 misses by $0.23, revenue of $238M misses by $9.64M