Mission Produce Stock Sheds 5% After Q2 Results — Here's Why

Mission Produce (NASDAQ: AVO) stock dropped 4.65% to $9.64 after reporting Q2 earnings of $0.01 per share, missing the consensus estimate of $0.05. While quarterly revenue of $290.9 million beat expectations by 13.5%, it declined from $380.3 million year-over-year. CEO John Pawlowski attributed the miss to margin compression in April due to high volumes, low prices, and a mismatch between Mexican supply and customer demand in the final weeks of the quarter.