By Connor Hart
Shares of avocado-producer Mission Produce jumped after the company posted higher profit and revenue in its fiscal fourth quarter.
The stock gained 9.2%, to $13.45, in after-hours trading Thursday. Shares--which ended the regular session down 2.2%, to $12.32--are up 22% since the beginning of the year.
The Oxnard, Calif., company, which also sells mangos and blueberries, after the bell reported a profit of $17.3 million, or 24 cents a share, for its three months ended Oct. 31, compared with $4 million, or 6 cents a share, in last year's quarter. Adjusted earnings came in at 28 cents a share.
Revenue increased 37%, to $354.4 million.
For the first quarter of its fiscal 2025, Mission expects volumes to be consistent with last year's comparable quarter. Pricing will be about 20% higher, which the company attributed to continued strength in demand.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 19, 2024 17:36 ET (22:36 GMT)
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