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Lavoro Reports Fiscal Third Quarter 2024 Earnings Results¹
LVROLavoro (LVRO) Newsfilter·2024-06-03 20:05

3Q24 revenue grew 6% to 514.2million.Growthwasdrivenbycontinuedmarketsharegainsandvolumegrowth,whichmitigatedongoingdeflationininputpricesthroughoutBrazilandColombia.Grossprofitdecreased16514.2 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% ...