OXNARD, CA - Mission Produce™ has given us a glimpse at its financial performance for the fourth quarter ended October 31, 2024, sharing an insightful update ahead of its participation in upcoming investor events.
“We expect to deliver strong fourth quarter top and bottom-line results that demonstrate continued momentum across our business and our team’s focus on driving improved results,” stated Steve Barnard, Chief Executive Officer. “We expect our Marketing & Distribution segment to deliver another strong performance, as our team effectively leveraged our global sourcing network amid a sustained higher pricing environment to achieve per-unit margins exceeding our targeted range. Looking ahead, we remain excited about our position and will continue to focus on operational excellence, strategic growth initiatives, and sound capital allocation to drive long-term shareholder value.”
According to a press release, the avocado, mango, and blueberry supplier expects the following for the fiscal fourth quarter of 2024:
- Total revenue is expected to exceed $320 million compared to $257.9 million in the same period last year, driven primarily by the Marketing & Distribution segment, reflecting a continuation of the strong pricing environment on volumes consistent with prior expectations
- Adjusted EBITDA is expected to exceed $28 million compared to $17.3 million in the same period last year, primarily driven by a continuation of the stronger per unit margin performance in the Marketing and Distribution segment
Mission Produce plans to release its fiscal fourth quarter and full year 2024 results, along with its forward assumptions related to the industry outlooks, in December.
As these results hit the newswire, ANUK will certainly be here to report!
