Mission Produce (NASDAQ: AVO) reported Q1 EPS of $0.09, $0.15 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $258.7 million versus the consensus estimate of $191.35 million.

OUTLOOK

For the second quarter of fiscal year 2024, the Company is providing the following industry outlooks that will drive performance:

Avocado pricing is expected to be slightly higher on a sequential basis and be approximately 10-15% higher than the $1.30 per pound average experienced in second quarter of fiscal 2023.

Harvest timing shifts relative to last year have extended the Company’s Peruvian blueberry season this year. As a result, approximately 20% of the harvest will be sold through in the fiscal second quarter, whereas the season was substantially complete in the prior year period. Sales pricing is expected to decline sequentially in the fiscal second quarter in response to increased industry volume resulting from the expectation for other source regions to begin seasonal harvests on a normal cadence.

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