Company Overview - Mission Produce, Inc. is a global leader in sourcing, producing, and distributing fresh Hass avocados and mangos, serving retail, wholesale, and foodservice customers in over 25 countries [4] - The company has been in operation since 1983 and is vertically integrated, owning five state-of-the-art packing facilities across the U.S., Mexico, Peru, and Guatemala [4] - Mission Produce sources from over 20 premium growing regions, ensuring a year-round supply of premium fresh fruit [4] - The company's global distribution network includes strategically positioned forward distribution centers across key markets in North America, China, Europe, and the UK, offering value-added services [4] Financial Results Announcement - Mission Produce will release its financial results for the fiscal third quarter ended July 31, 2025, after the market closes on September 8, 2025 [1] - A conference call and webcast to discuss the financial results will be held at 5:00 PM Eastern Time on the same day [1] Conference Call Details - The conference call can be accessed live by dialing (877) 407-9039 for domestic callers and (201) 689-8470 for international callers [2] - A replay of the call will be available until September 22, 2025, with specific dialing instructions for both domestic and international callers [2] - The live audio webcast will be accessible on the Company's Investor Relations website, with an archived replay available shortly after the live event [3]

Core Insights - Mission Produce Inc. (AVO) and Limoneira Company (LMNR) represent contrasting approaches in the fresh produce market, with AVO focusing on avocados and LMNR on a diversified citrus portfolio [1][2][3] Investment Case for AVO - Mission Produce is a leading vertically integrated supplier of Hass avocados, with a strong global presence and year-round supply capabilities [3][5] - The company is expanding its portfolio to include mangoes and blueberries, which helps mitigate risks associated with avocado price volatility [4][6] - AVO's scale and infrastructure allow it to effectively manage supply chain disruptions, maintaining customer commitments even during trade tensions [5][6] - The structural drivers of rising avocado consumption and AVO's adaptability position it well for long-term growth in the fresh produce sector [6] Investment Case for LMNR - Limoneira is a major U.S. lemon producer with a growing focus on avocados, aiming to increase production through new plantings [7][9] - The partnership with Sunkist Growers is expected to yield $5 million in annual savings and enhance efficiency, positioning LMNR as a multi-citrus player [10] - Limoneira's real estate and water monetization initiatives provide additional income streams, although its earnings are still subject to crop cycles and commodity pressures [11] Performance Comparison - AVO shares have increased by 16.9% over the past three months, while LMNR shares have declined by 4.3%, indicating diverging market momentum [8][18] - AVO trades at a forward price-to-sales (P/S) multiple of 0.71X, below its 5-year median, while LMNR's P/S multiple is 2X [20][23] Conclusion - Mission Produce is viewed as the more compelling investment choice due to its strong market position, attractive valuation, and growth potential in avocados and adjacent categories [25][26] - Limoneira, while offering diversification, faces challenges that may slow its growth trajectory compared to AVO [24][26]

Core Insights - Mission Produce, Inc. announced the retirement of Juan Wiesner, President of Central and South America, effective November 1, 2025, after 14 years of leadership [1][2] - Simón González, a 13-year veteran of the company, will be promoted to Senior Vice President, International Farming, as part of the strategic succession plan [1][4] Company Growth and Operations - During Wiesner's tenure, he significantly contributed to the growth of Mission Produce in Central and South America, particularly in launching and scaling operations in Peru and expanding into Guatemala [2][3] - The company has developed a vertically integrated farming operation, with over 6,500 plantable hectares dedicated to avocados, mangos, and blueberries across Peru and Guatemala [3] Leadership Transition - Simón González brings over 20 years of agribusiness experience and has been instrumental in executing strategic initiatives in Peru and Guatemala [3][4] - The company is confident in González's ability to continue driving international success and operational excellence as it approaches a new chapter in its global growth strategy [4] Company Overview - Mission Produce is a global leader in sourcing, producing, and distributing fresh Hass avocados and mangos, serving customers in over 25 countries [4] - The company operates five state-of-the-art packing facilities across the U.S., Mexico, Peru, and Guatemala, ensuring a year-round supply of premium fresh fruit [4]

FISCAL 2025 Q2 SNAPSHOT | Total Revenue | Adjusted EBITDA | Avocado Volume Sold | Average Selling Price | | --- | --- | --- | --- | | $380.3M | $19.1M | 166.4M LBS | $2.00 /LB | | +28% YoY | -5% YoY | -1% YoY | +26% YoY | Non-GAAP Financial Measure Mission Produce: A Global Leader in Avocados About Mission Produce, Inc. Mission Produce (Nasdaq: AVO) is a global leader in the worldwide fresh produce business, delivering fresh Hass avocados and mangos to retail, wholesale and foodservice customers in over 25 ...

Core Viewpoint - Mission Produce, Inc. reported record fiscal second quarter revenue driven by the Marketing & Distribution segment, achieving a total revenue of $380.3 million, a 28% increase compared to the same period last year [4][6]. Financial Overview - Total revenue for the second quarter of fiscal 2025 increased by $82.7 million or 28% to $380.3 million compared to the same period last year [4]. - Net income for the second quarter was $3.1 million, or $0.04 per diluted share, down from $7.0 million, or $0.10 per diluted share, in the same period last year [6][7]. - Adjusted net income was $8.7 million, or $0.12 per diluted share, compared to $9.8 million, or $0.14 per diluted share, for the same period last year [8]. - Adjusted EBITDA for the second quarter was $19.1 million, a decrease of $1.1 million or 5% compared to $20.2 million in the prior year period [8]. Segment Performance - In the Marketing & Distribution segment, net sales increased by $75.4 million or 26% to $362.5 million, driven by higher avocado pricing [9]. - The International Farming segment saw total sales increase by $6.7 million or 479% to $8.1 million, with adjusted EBITDA rising to $1.5 million from a loss of $2.2 million in the same period last year [11]. - The Blueberries segment reported a 57% increase in net sales to $15.7 million, primarily due to higher volume driven by increased acreage and yields [12]. Operational Insights - The company executed $5.2 million in share repurchases during the quarter, reflecting a belief that the share price was undervalued [3]. - Cash and cash equivalents decreased to $36.7 million as of April 30, 2025, down from $58.0 million as of October 31, 2024 [14]. - Net cash used in operating activities was $13.0 million for the six months ended April 30, 2025, compared to cash provided by operating activities of $12.9 million for the same period last year [16]. Outlook - For the third quarter of fiscal year 2025, industry volumes are expected to be approximately 10-15% higher compared to the prior year, driven by a strong Peruvian harvest outlook [23]. - The company anticipates exportable avocado production from its owned farms in Peru to range between 100 million to 110 million pounds, significantly higher than the 43 million pounds in the 2024 harvest season [23]. - Total capital expenditures for fiscal 2025 are expected to remain in the range of $50 to $55 million [23].

Core Viewpoint - Mission Produce, Inc. will release its financial results for the fiscal second quarter ended April 30, 2025, on June 5, 2025, after market close, followed by a conference call to discuss the results [1]. Group 1: Financial Results Announcement - The financial results will be released after market closes on June 5, 2025 [1]. - A conference call and webcast will be held at 5:00 PM Eastern Time on the same day to discuss the financial results [1]. Group 2: Conference Call Details - The conference call can be accessed live by dialing (877) 407-9039 for domestic callers and (201) 689-8470 for international callers [2]. - A replay of the call will be available until June 19, 2025, with specific dialing instructions for both domestic and international callers [2]. Group 3: Company Overview - Mission Produce is a global leader in the avocado business, also offering mangos and blueberries, and has been in operation since 1983 [4]. - The company services retail, wholesale, and foodservice customers in over 25 countries and operates four packing facilities in key growing locations [4]. - Mission Produce has a vertically integrated supply chain and a global distribution network, providing year-round supply of premium fruit [4].

Core Viewpoint - Mission Produce, Inc. has appointed Michael Bryan Sims as an independent Class I director to its board, effective May 5, 2025, increasing the board size from eight to nine directors [1]. Company Overview - Mission Produce is a global leader in sourcing, producing, and distributing fresh Hass avocados, with additional offerings in mangos and blueberries. The company has been operational since 1983 and serves customers in over 25 countries [7]. - The company operates four state-of-the-art packing facilities in key growing locations, including California, Mexico, Peru, and Guatemala, and has sourcing capabilities in several other countries, ensuring a year-round supply of premium fruit [7]. Appointment of Michael Bryan Sims - Michael Bryan Sims brings over four decades of experience in leading global organizations in the food, agriculture, and consumer industries, with a strong background in operational, strategic, and financial expertise [3]. - Sims has previously served as Executive Vice President and CFO of TruGreen, where he led financial restructurings and operational improvements. He also held senior roles at AdvancePierre Foods and Chiquita Brands International [4]. - In addition to his executive experience, Sims serves on the boards of The Hain Celestial Group and Winland Foods, providing strategic and financial oversight [5]. Expectations from the Appointment - The CEO of Mission Produce, Steve Barnard, expressed confidence that Sims' financial background and board-level experience will enhance the company's growth strategies and create sustainable value [6]. - Sims stated that he is honored to join the board and aligns with Mission's commitment to operational excellence and supply chain transparency, looking forward to supporting the company's growth [6].

Core Insights - Mission Produce, Inc. has inaugurated a new packinghouse in Guatemala, enhancing its global sourcing network for avocados and marking a significant development in the country's avocado production capabilities [1][2][3] Company Developments - The new facility is set to launch in August 2025 and is designed with advanced quality assurance and food safety technologies to ensure high standards for avocado distribution [2][3] - Mission Produce has been vertically integrated in Guatemala since 2020, with plans to expand its planted area from 728 hectares to up to 1,000 hectares by 2026 [3] Industry Context - Guatemala is emerging as a key player in the global avocado market, with the potential to meet increasing global demand due to its optimal growing conditions and two annual harvests [2][3] - In 2024, avocado exports from Guatemala generated over Q120,761,773 (USD$15.5 million) and supported more than 6,000 jobs, highlighting the economic impact of the avocado sector [2]