Mission Produce (AVO) Reports Earnings Tomorrow. What To Expect
Avocado company Mission Produce (NASDAQ:AVO) will be reporting earnings tomorrow afternoon. Here's what to look for.
Last quarter Mission Produce reported revenues of $261.4 million, down 16.5% year on year, beating analyst revenue expectations by 8%. It was a weak quarter for the company, with a miss of analysts' EPS estimates.
Is Mission Produce buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Mission Produce's revenue to grow 21.2% year on year to $288.5 million, improving on the 0.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Mission Produce's peers in the packaged food segment, some of them have already reported earnings results, giving us a hint of what we can expect. J. M. Smucker's revenues decreased 12.1% year on year, missing analyst estimates by 0.3% and B&G Foods reported revenue decline of 4.9% year on year, missing analyst estimates by 0.5%. J. M. Smucker traded flat on the results, B&G Foods was up 2.1%.
Read our full analysis of J. M. Smucker's results here and B&G Foods's results here.
There has been positive sentiment among investors in the packaged food segment, with the stocks up on average 9.7% over the last month. Mission Produce is up 3.4% during the same time, and is heading into the earnings with analyst price target of $12.8, compared to share price of $9.1.
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The author has no position in any of the stocks mentioned.
