secwatch.observer — SEC 8-K summary
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Issuer:     Mission Produce, Inc. (AVO)
CIK:        0001802974
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001802974-23-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mission Produce Q2 net loss $4.6M, revenue down 20% to $221.1M on avocado price deflation
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- Net loss $(4.6)M ($(0.07)/diluted) vs net income $2.4M ($0.03) prior year; adjusted net income $0.5M ($0.01).
- Revenue $221.1M, down 20% YoY; avocado prices down 36% partially offset by 19% volume increase.
- Adjusted EBITDA $7.6M, down 17% from $9.1M prior year.
- Owned Peruvian production guided 125M-135M lbs; new UK distribution center commenced operations.
- Industry Q3 avocado volumes expected ~20% higher YoY; pricing expected down 35-40% vs $2.03/lb in Q3 FY2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802974/000180297423000014/0001802974-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802974/000180297423000014/avo-20230608.htm
  HTML page:      https://secwatch.observer/filing/0001802974-23-000014

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