Mission Produce reported record fiscal third quarter revenue and gross profit.
Total revenue increased by 10% to $357.7 million compared to the same period last year.
Net income rose to $14.7 million, or $0.21 per diluted share, compared to $12.4 million, or $0.17 per diluted share, in the previous year.
Financial Growth
Total revenue rose by 10% and net income increased to $14.7 million in the fiscal third quarter of 2025.
Adjusted Earnings
Adjusted net income reached $18.2 million, or $0.26 per diluted share, showing a positive trend compared to the same period last year.
Operational Performance
Mission's vertically integrated model and operational excellence led to $34 million of operating cash flow during the third quarter.
- The total revenue increase of 10% was mainly attributed to the Marketing & Distribution segment, driven by higher avocado volume sold and partially offset by a decrease in average per-unit avocado sales prices.
- Gross profit rose by 22% to $45.1 million, with a 120 basis points increase in gross profit percentage, primarily driven by higher avocado production in the International Farming segment.
Mission Produce continues to demonstrate strong financial performance and operational adaptability, maintaining a positive trajectory in the avocado industry. The company's strategic approach and focus on market dynamics position it well for future growth and success.