Mission Produce sees FY25 capital expenditures $50M-$55M

The company said, “For the third quarter of fiscal year 2025, the Company is providing the following industry outlooks that will drive performance: Industry volumes are expected to be approximately 10-15% higher in the fiscal 2025 third quarter versus the prior year period, primarily due to a strong Peruvian harvest outlook. Expectations for exportable avocado production from Mission’s owned farms in Peru is expected to range between 100 million to 110 million pounds. The company anticipates that sales of its owned production will be weighted to its fiscal fourth quarter. Pricing is expected to be lower on a year-over-year basis by approximately 10-15% as compared to the $1.84 per pound average experienced in third quarter of fiscal 2024. The decrease in pricing is directly correlated with expectations of higher volumes available in U.S. and international markets. For fiscal 2025, total capital expenditures are expected to remain in the range of $50 to $55 million.”