Mission Produce, Inc. (AVO), a prominent provider of fruit farming services, saw its shares surge by over 18% in pre-market trading on Tuesday, reaching $12.65. This boost followed the release of their impressive third-quarter results.The company’s net income for the third quarter stood at $12.4 million, or $0.17 per share, compared to $6.6 million, or $0.09 per share, during the same period last year. This increase was primarily attributed to a significant growth in revenue.Excluding one-time items, earnings rose to $16.7 million, or $0.23 per share, up from $10.3 million, or $0.15 per share, in the previous year.Quarterly revenue saw a 24% year-on-year increase, reaching $324 million. This growth was chiefly driven by the Marketing and Distribution segment, which experienced a 36% rise in average per-unit avocado sales prices.Mission Produce’s stock had closed at $10.69 on Monday and has traded within the range of $8.19 to $13.00 over the past year.The material has been provided by InstaForex Company – www.instaforex.com
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