Mission Produce, Inc. ( (AVO) ) has released its Q1 earnings. Here is a breakdown of the information Mission Produce, Inc. presented to its investors.
Mission Produce, Inc. is a global leader in the avocado industry, specializing in the sourcing, production, and distribution of fresh Hass avocados, along with offerings in mangos and blueberries. The company operates in over 25 countries, providing a year-round supply of premium fruit through its vertically integrated operations and state-of-the-art facilities.
In its fiscal first quarter of 2025, Mission Produce reported a record revenue of $334.2 million, marking a 29% increase compared to the same period last year. This growth was primarily driven by higher prices and volumes in the Marketing & Distribution segment, despite challenges in the Mexican supply chain.
Key financial highlights include a net income of $3.9 million, or $0.05 per diluted share, compared to breakeven in the previous year. Adjusted net income rose to $7.1 million, or $0.10 per diluted share. However, adjusted EBITDA saw an 8% decline to $17.7 million, attributed to lower per-unit gross margins in the avocado and blueberry segments. The Marketing & Distribution segment experienced a 32% increase in net sales, while the Blueberries segment saw a 12% rise in net sales.
Looking forward, Mission Produce remains optimistic about leveraging its strengths in California and Peruvian sourcing markets to navigate the uncertain impact of tariffs on Mexican supply dynamics. The company aims to continue creating value for shareholders through strategic investments and a disciplined approach to capital allocation.