Lavoro Reports Fiscal Third Quarter 2024 Earnings Results¹

3Q24 revenue grew 6% to $514.2 million. Growth was driven by continued market share gains and volume growth, which mitigated ongoing deflation in input prices throughout Brazil and Colombia. Gross profit decreased -16% to $60.2 million. Gross margins narrowed by -310 basis points to 11.7%, primarily due to the ongoing input price deflation and a less favorable sales mix resulting from a greater proportion of low margin Grain revenue. The Crop Care segment remained a strong performer, with revenue rising 30% ...