Mission Produce (NASDAQ: AVO) reported Q2 EPS of $0.04, $0.03 better than the analyst estimate of $0.01. Revenue for the quarter came in at $278.1 million versus the consensus estimate of $278.85 million.

Outlook:

For the fiscal third quarter of fiscal year 2022, the Company is providing the following industry update to inform modeling assumptions:

• The industry is expecting third quarter volumes to increase sequentially, but remain lower by approximately 10-15% versus the prior year period, primarily due to ongoing supply constraints in Mexico that are not expected to alleviate until the fiscal fourth quarter. Third quarter supply pressure will be partially offset by higher supply from Peru and California.
• Based on the expectation for sequentially improving volumes, the Company believes that the pricing environment should begin to rationalize during fiscal third quarter.

For earnings history and earnings-related data on Mission Produce (AVO) click here.