Q3 2025 Mission Produce Inc Earnings Call Transcript
Key Points
- Mission Produce Inc (AVO) reported record third-quarter revenue of $357 million, marking a 10% increase.
- The company achieved a 10% increase in avocado volume sold, showcasing strong demand and effective distribution.
- International Farming segment saw a significant recovery with a 79% increase in sales, driven by improved Peruvian avocado production.
- European sales increased by 37%, reflecting enhanced customer penetration and improved facility utilization in the UK.
- Mission Produce Inc (AVO) continues to diversify successfully, with increased production and sales in both mangoes and blueberries.
- Average per-unit sales prices decreased by 5%, indicating pricing pressure despite increased volume.
- SG&A expenses rose by 19%, primarily due to higher employee-related costs and performance-based compensation.
- The company faces a $10 million annualized impact from tariffs on avocado and mango imports to the US.
- Adjusted EBITDA for the Marketing and Distribution segment decreased, reflecting normalization of per-unit avocado gross margin.
- Pricing for avocados is expected to be 20% to 25% lower year-over-year in the fourth quarter due to higher volumes.
Good afternoon and welcome to the Mission Produce fiscal third-quarter 2025 conference call. (Operator Instructions) Please also note today's event is being recorded.
At this time, I'd like to turn the conference call over to Jeff Sonnek, Investor Relations at ICR. Sir, please go ahead.
Thank you. Today's presentation will be hosted by Steve Barnard, Chief Executive Officer; John Pawlowski, President and Chief Operating Officer; and Bryan Giles, Chief Financial Officer. The comments during today's call and the accompanying presentation contain forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical facts are considered forward-looking statements. These statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks and uncertainties that could
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