Shares of Mission Produce, Inc. (NASDAQ: AVO) surged 6.19% in after-hours trading on Thursday following the release of its fiscal 2025 second quarter financial results. The global leader in avocado and mango supply chain reported robust earnings that surpassed analyst expectations, despite facing industry challenges.
Mission Produce announced a record second quarter revenue of $380.3 million, marking a significant 28% increase compared to the same period last year. This figure substantially beat the analyst consensus estimate of $296.05 million. The company's adjusted earnings per share came in at $0.12, doubling the expected $0.06 per share, although it represents a slight decrease from $0.14 in the previous year.
CEO Steve Barnard highlighted the company's success in navigating seasonal supply challenges and maintaining elevated market pricing. Mission Produce also reported notable progress in its strategic priorities, particularly in its mango business, which gained significant market share and achieved record volumes. The company's ability to outperform expectations in a challenging environment, coupled with its optimistic outlook for the second half of the fiscal year, appears to have fueled investor confidence, driving the stock's after-hours rally.
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