Avocado grower sees improved financials due to price increase

  • Mission Produce swung to a profit of $4 million in 4Q
  • Higher avocado prices boosted results
  • Adjusted per-share earnings came to 11 cents
  • Revenue rose 8% to $257.9 million
  • Challenging weather conditions in Peru affected avocado quality and volumes

Mission Produce, an avocado grower based in Oxnard, California, reported a profit of $4 million in the fiscal fourth quarter. This turnaround was driven by higher avocado prices, which resulted in an 8% increase in revenue to $257.9 million. Adjusted per-share earnings came to 11 cents. However, the company experienced a decrease in volumes due to challenging weather conditions in Peru, which affected avocado quality. Looking ahead, Mission Produce expects slightly lower volumes in the current quarter due to a light Mexican harvest and a slight decline in prices.

Public Companies: Mission Produce (N/A)
Private Companies:
Key People: Steve Barnard (Chief Executive)

Factuality Level: 8
Justification: The article provides specific financial figures and quotes from the Chief Executive, which adds credibility to the information. However, it does not provide any sources or additional context to verify the claims made.

Noise Level: 7
Justification: The article provides some relevant information about Mission Produce’s financial performance in the fiscal fourth quarter, including the profit and revenue figures. However, it lacks in-depth analysis or insights into the long-term trends or antifragility of the company. It also does not hold anyone accountable or explore the consequences of decisions. The article stays on topic and supports its claims with data, but it does not provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Avocado market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the financial performance of Mission Produce, an avocado grower. It mentions higher prices boosting their profit in the fiscal fourth quarter. However, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com