Mission Produce

Mission Produce, Inc. engages in farming, packaging, marketing, and distribution of avocados to food retailers, distributors, and produce wholesalers worldwide. It operates through the following segments: Marketing and Distribution, International Farming, and Blueberries. The Marketing and Distribution segment focuses on sourcing fruit from growers and distributes the fruit through its global distribution network. The International Farming segment owns and operates avocado orchards from which substantially all fruit produced is sold. The Blueberries segment is involved in a farming operation that cultivates blueberry plants. The company was founded by Stephen J. Barnard and Ed Williams in 1983 and is headquartered in Oxnard, CA.

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Mission Produce reports strong Q1 growth amidst pricing challenges

Mission Produce's Q1 performance showcased revenue growth and optimism for improved profitability despite pricing challenges.
The company's strategic strengths include global expansion initiatives, a strong cash position, and investments in key growth areas.
Challenges lie in industry dynamics impacting profitability, particularly in the Blueberry segment, requiring effective strategies to mitigate risks.
Opportunities for Mission Produce include leveraging pricing stability, expanding into Blueberries, and capitalizing on global market expansion.

Mission Produce reports Q2 revenue growth, eyes international expansion

Mission Produce's Q2 2023 performance was driven by increased sales volumes despite challenges in pricing, with a focus on margin improvement.
The company faces pricing pressures but remains optimistic about future margins and opportunities for growth through international expansion.
Strategic investments in distribution centers and expectations of higher sales volumes offer potential for revenue growth in the coming quarters.
Despite current challenges, Mission is positioning itself for improved profitability and operational efficiency in the second half of the fiscal year.

Mission Produce (AVO) reports stable revenue but lower EBITDA in Q3

Mission Produce (AVO) navigated Q3 2023 with consistent revenue but lower adjusted EBITDA, driven by challenges in the Peruvian harvest. Despite facing weather-related issues and lower margins, the company managed to decrease SG&A expenses and initiate a stock repurchase program. Looking ahead, Mission Produce expects pricing stability but lower volumes in Q4 due to reduced supply from Peru.

Mission Produce reports strong fiscal year 2023 performance and growth opportunities

Mission Produce's fiscal year 2023 showcased growth in avocado volumes and revenue, with a strategic focus on global expansion and product diversification, despite challenges in pricing and production.
The company's strong Q4 performance, driven by increased demand and operational efficiencies, positions it well for future growth and profitability, supported by investments in technology and cost control measures.
While facing challenges such as weather-related issues and rising transportation costs, Mission Produce is actively pursuing opportunities in market expansion, strategic partnerships, and operational enhancements to drive long-term success.

Mission Produce reports robust Q1 earnings, eyes growth opportunities

Mission Produce's Q1 2024 performance reflects strong revenue growth, operational improvements, and strategic investments in expansion and leadership.
While facing challenges in pricing dynamics and capital expenditure management, the company is well-positioned to leverage growth opportunities in new markets and product segments.
Overall, Mission's financial stability, operational efficiency, and focus on long-term growth indicate a positive outlook for future performance and shareholder value.

Mission Produce (AVO) reports record revenue growth and diversifies into new markets

Mission Produce (AVO) delivered strong financial results in Q2 2024, driven by record revenue and improved profitability. Despite challenges in the avocado crop, the company's strategic diversification and focus on operational efficiency have positioned it for future growth. With a solid cash position and growth opportunities in new markets, Mission Produce remains resilient and poised for continued success.

Mission Produce reports stellar Q3 results, eyes growth opportunities

Mission Produce's Q3 2024 performance showcased strong revenue and EBITDA growth, driven by effective operational strategies and market positioning. Despite challenges in Peru, the company leveraged its global network to maintain profitability. With a focus on balance sheet health and shareholder value, Mission Produce is poised for continued success.

Mission Produce excels in Q4 2024, eyes growth amid challenges

Mission Produce's Q4 2024 performance reflects resilience and strategic growth initiatives amidst market challenges.
The company's focus on debt reduction and operational optimization positions it well for future success and financial stability.
With strong industry dynamics and market opportunities ahead, Mission Produce is poised for continued growth and profitability.

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Mission Produce, Inc. (AVO) came out with quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.27 per share a year ago.

Mission Produce, Inc. (AVO) Misses Q3 Earnings Estimates

23% growth in avocado volume sold compared to same period last year Sequential improvement in Marketing & Distribution segment per-unit margins from fiscal second quarter 2023 Updates expectations for Peruvian exportable volume Board approves stock repurchase program up to $20 million OXNARD, Calif., Sept. 11, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today reported its financial results for the fiscal third quarter ended July 31, 2023.

Mission Produce™ Announces Fiscal 2023 Third Quarter Financial Results

Mission Produce, Inc. (AVO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Mission Produce, Inc. (AVO) to Report a Decline in Earnings: What to Look Out for

OXNARD, Calif., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced it will release its financial results for the fiscal third quarter ended July 31, 2023 after the market closes on Monday, September 11, 2023. The Company will host a conference call and webcast to discuss its financial results at 5:00 PM Eastern Time on the same day.

Mission Produce™ to Release Fiscal Third Quarter 2023 Financial Results on Monday, September 11, 2023

OXNARD, Calif., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or “the Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced the appointment of Tony Bashir Sarsam to its board of directors, effective August 14, 2023. Sarsam is appointed as an independent Class I director, with a term expiring at the Company's 2024 Annual Meeting of Stockholders. In connection with this appointment, Mission Produce's board of directors has increased the size of the board from eight to nine directors.

Mission Produce™ Appoints Tony Sarsam to Board of Directors

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Mission Produce, Inc. (NASDAQ:AVO ) Q2 2023 Earnings Conference Call June 8, 2023 5:00 PM ET Company Participants Jeff Sonnek - Investor Relations Steve Barnard - Chief Executive Officer Bryan Giles - Chief Financial Officer Conference Call Participants Benjamin Bienvenu - Stephens, Inc Tom Palmer - JPMorgan Christian Contreras - Bank of America Operator Good afternoon and welcome to the Mission Produce Fiscal Second Quarter 2023 Conference Call. [Operator Instructions] Please also note today's event is being recorded.

Mission Produce, Inc. (AVO) Q2 2023 Earnings Call Transcript

Shares of Mission Produce Inc. jumped after hours on Thursday after the avocado grower reported fiscal second-quarter results that beat estimates, after lower avocado prices led to more product sold but a drop in dollar-figure sales.

Lower avocado prices are leading to more purchases, Mission Produce says, but less revenue

19% growth in avocado volume sold compared to same period last year Year over year market share gains amongst core US retail customer base Sequential improvement in per-unit margins from fiscal first quarter 2023 Commenced operations at new forward distribution center in the United Kingdom Owned production in Peru begins seasonal harvest; expect total exportable production from 125 million to 135 million pounds OXNARD, Calif., June 08, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today reported its financial results for the fiscal second quarter ended April 30, 2023.

Mission Produce™ Announces Fiscal 2023 Second Quarter Financial Results

OXNARD, Calif., May 30, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced it will host an in-person Investor Day and Facilities Tour on June 26 and June 27, 2023. The two-day event will feature Steve Barnard – Co-Founder and CEO, Bryan Giles – CFO, and other members of the senior leadership team.

Mission Produce™ Announces 2023 Investor Day & Facilities Tour

OXNARD, Calif., May 25, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced it will release its financial results for the fiscal second quarter ended April 30, 2023 after the market closes on Thursday, June 8, 2023. The Company will host a conference call and webcast to discuss its financial results at 5:00 PM Eastern Time on the same day.

Mission Produce™ to Release Fiscal Second Quarter 2023 Financial Results on Thursday, June 8, 2023

Mission Produce, Inc. (NASDAQ:AVO ) Q1 2023 Earnings Conference Call March 9, 2023 5:00 PM ET Company Participants Jeff Sonnek - ICR, IR Bryan Giles - CFO Steve Barnard - CEO Conference Call Participants Gerry Sweeney - Roth Capital Tom Palmer - JPMorgan Bryan Spillane - Bank of America Operator Good afternoon and welcome to the Mission Produce Fiscal First Quarter 2023 Conference Call. [Operator Instructions] Please also note today's event is being recorded.

Mission Produce, Inc. (AVO) Q1 2023 Earnings Call Transcript

Mission Produce Inc. AVO, -2.72% stock dropped more than 13% in the extended session Thursday after the avocado producer reported a wider-than-expected quarterly miss and said that its avocados and other fruits fetched lower prices. Mission Produce said it lost $8.8 million, or 12 cents a share, in the quarter, compared with $13.4 million, or 19 cents a share, in the year-ago period.

Mission Produce stock falls 13% on wider quarterly miss, revenue drop

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OXNARD, Calif., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced it will release its financial results for the fiscal first quarter ended January 31, 2023 after the market closes on Thursday, March 9, 2023. The Company will host a conference call and webcast to discuss its financial results at 5:00 PM Eastern Time on the same day.

Mission Produce™ to Release Fiscal First Quarter 2023 Financial Results on Thursday, March 9, 2023

Mission Produce partners with ZZ2, Criterion Africa Partners, and Core Fruit with plans to develop over 1,000 hectares of avocados for global distribution Mission Produce partners with ZZ2, Criterion Africa Partners, and Core Fruit with plans to develop over 1,000 hectares of avocados for global distribution

Mission Produce™ Establishes Vertical Integration in South Africa, Partners With ZZ2, Cap, and Core Fruit

OXNARD, Calif., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced Steve Barnard, Founder and Chief Executive Officer, and Bryan Giles, Chief Financial Officer, will be participating in the 2023 ICR Conference in Orlando, FL. The Company will host a fireside chat on Tuesday, January 10th at 8:30 am ET.

Mission Produce™ to Participate in the 2023 ICR Conference

Mission Produce, Inc. has been riding global secular demand for avocados to grow revenues to new records. The company fell by 15% following the publication of its fiscal 2022 fourth quarter results, which saw revenue come in below consensus on the back of falling avocado prices.

Mission Produce: Going Long Avocados Turns Sour As Prices Fall

The heavy selling pressure might have exhausted for Mission Produce, Inc. (AVO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Mission Produce, Inc. (AVO) Loses 24.6% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Avocado distributor Mission Produce Inc (NASDAQ:AVO) is down 15% to trade at $12.38 at last glance, after the company's worse-than-expected fourth-quarter results.

Avocado Stock Falls as Earnings Disappoint

Shares of the avocado grower were pulling back on a disappointing earnings report.

Why Mission Produce Stock Was Falling Today

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Mission Produce Inc. shares plunged in after-hours trading Thursday following an earnings report that showed the effects of rapidly declining avocado prices.

Avocado prices are plunging, and taking Mission Produce stock along for the ride

Mission Produce, Inc. (NASDAQ:AVO ) Q4 2022 Earnings Conference Call November 22, 2022 5:00 PM ET Company Participants Jeff Sonnek - ICR, IR Bryan Giles - CFO Steve Barnard - CEO Conference Call Participants Ben Bienvenu - Stephens Tom Palmer - JPMorgan Bryan Spillane - Bank of America Operator Good afternoon and welcome to the Mission Produce Fiscal Fourth Quarter 2022 Conference Call. [Operator Instructions] Please also note today's event is being recorded.

Mission Produce, Inc. (AVO) Q4 2022 Earnings Call Transcript

OXNARD, Calif., Dec. 22, 2022 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today reported its financial results for the fiscal fourth quarter ended October 31, 2022.

News for Mission Produce Stock (AVO)