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Mission Produce Inc T.AVO


Primary Symbol: AVO

Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.


NDAQ:AVO - Post by User

Bullboard Posts
Comment by MikeySwooshon Jul 19, 2015 11:00pm
150 Views
Post# 23939490

RE:RE:RE:RE:Why did the buybacks stop

RE:RE:RE:RE:Why did the buybacks stopKeep in mind that Avigilon has spent close to $40M thus far on the buyback, and with Q2 capex spending, as discussed per the Q1 conference call, Avigilon isn't swimming in cash as they were back in November. They have established a favorable credit facility, but I reckon there is a reluctancy to finance their repurchase of shares, if their cash balance now is indeed pretty modest. Avigilon had pretty high net receivables, and inventory levels were relatively high during the last quarter, neither of which is necessarily bad, but if those haven't been pared back, then their cash balance is bound to be low. Naturally, Avigilon probably also wants to keep some powder dry, not necessarily for Q2 results, but looking out over the next few quarters. I don't believe they're showing their hand, but instead being prudent. All other things being equal, hopefully we won't see a sub-$20 share price again after Q2 results are released and prior to the NCIB expiring, but again, only so much of that is within Avigilon's control.
Bullboard Posts