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

The company said, “Avocado industry volumes are expected to be approximately 15% higher in the fiscal 2025 fourth quarter versus the prior year period due to a combination of ample Peruvian product in the supply chain as the harvest season nears completion and the transition to the new Mexican crop, which is expected to be larger than prior year due to favorable weather conditions. Exported production from Mission’s owned farms in Peru is expected to range between 105 million to 110 million pounds, of which approximately 48 million pounds were sold through as of the end of the fiscal third quarter. Pricing is expected to be lower on a year-over-year basis by approximately 20-25% as compared to the $1.90 per pound average experienced in fourth quarter of fiscal 2024. The decrease in pricing is directly correlated with expectations of higher volumes available in U.S. and international markets. The blueberries harvest season in Peru will begin to ramp up during the quarter. The Company expects to see meaningful volume increases from our owned farms, but the impact on revenue will likely be offset by lower average sales prices. For fiscal 2025, total capital expenditures are expected to remain in the range of $50 to $55 million.”