Overview

* Mission Produce ( AVO ) fiscal Q3 revenue rises 10%, beating analyst expectations, per LSEG data

* Adjusted EPS for fiscal Q3 beats consensus, per LSEG data

* Adjusted EBITDA increased 3%, driven by higher avocado production

Outlook

* Company expects Q4 avocado volumes to rise 15% year-over-year

* Mission forecasts Q4 avocado pricing to drop 20-25% from last year

* Company projects 105-110 mln pounds of Peruvian avocado exports in Q4

* Mission anticipates increased blueberry volumes, offset by lower prices

Result Drivers

* PERUVIAN PRODUCTION - Higher Peruvian avocado production due to favorable weather increased supply and sales

* INTERNATIONAL FARMING - Significant growth in avocado production from owned orchards boosted revenue

* MARKETING & DISTRIBUTION - Increased avocado volume sold, despite a decrease in average sales prices, drove revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $357.70 $320.20

Revenue mln mln (2

Analysts

)

Q3 Beat $0.26 $0.14 (2

Adjusted Analysts

EPS )

Q3 EPS $0.21

Q3 Beat $18.20 $11.10

Adjusted mln mln (1

Net Analyst)

Income

Q3 Net $14.50

Income mln

Q3 Beat $32.60 $25 mln

Adjusted mln (2

EBITDA Analysts

)

Q3 Gross $45.10

Profit mln

Q3 $19.80

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the fishing & farming peer group is "buy"

* Wall Street's median 12-month price target for Mission Produce Inc ( AVO ) is $17.00, about 25.7% above its September 5 closing price of $12.63

* The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)