Mission Produce® Announces Fiscal 2025 Fourth Quarter and Full Year Financial Results; Steve Barnard Comments

OXNARD, CA - Mission Produce, Inc., a world leader in sourcing, producing, and distributing fresh Hass avocados, reported its financial results for the fiscal fourth quarter ended October 31, 2025.

Fiscal Fourth Quarter 2025 Financial Overview:

• Total revenue of $319.0 million and achieved volume growth of 13% versus the same period last year
• Net income attributable to Mission Produce of $16.0 million, or $0.22 per diluted share, compared to $17.3 million, or $0.24 per diluted share, for the same period last year
• Adjusted net income increased 13% to $22.2 million, or $0.31 per diluted share, compared to $19.6 million, or $0.28 per diluted share, for the same period last year
• Adjusted EBITDA increased 12% to $41.4 million, compared to $36.9 million in the same period last year

Full Year 2025 Financial Overview:

• Total revenue of $1.39 billion and achieved volume growth of 7% versus last year
• Net income attributable to Mission Produce increased 3% to $37.7 million, or $0.53 per diluted share, compared to $36.7 million or $0.52 per diluted share last year
• Adjusted net income increased 6% to $56.2 million, or $0.79 per diluted share, compared to $52.8 million or $0.74 per diluted share last year
• Adjusted EBITDA increased 3% to $110.8 million compared to $107.8 million last year
• Owned exportable avocado production volume sold increased approximately 144% to 105 million pounds for the 2025 harvest season; volume was positively impacted by a return to normal growing conditions following a period of challenging weather-related events in the prior year
• Cash flow from operations of $88.6 million compared to $93.4 million last year

CEO Message

Steve Barnard, CEO of Mission, stated in the recent release, “Fiscal 2025 was a defining year for Mission Produce. We achieved record revenue of $1.39 billion, growing 13% on top of a strong 2024 driven by avocado volume growth of 7% through our Marketing & Distribution segment, and delivered record adjusted EBITDA in the fourth quarter. These results reflect the power of our integrated global platform and the exceptional execution of our team. Throughout the year, our connected commercial organization demonstrated remarkable agility—pivoting to capitalize on market opportunities across North America, Europe, and Asia—each of which experienced growth for the quarter and full year. We were able to optimize our owned Peruvian production across customers and markets in a balanced fashion that drove category penetration and deepened key customer relationships. Whether navigating pricing dynamics or managing supply across regions, our team leveraged the full breadth of our capabilities to drive volume growth and optimize per-unit margins. Combined with our company-wide effort to enhance collaboration, data-driven decision making, and disciplined execution, I'm confident Mission is well positioned to continue growing share through expanding our presence in the years ahead.”

Mr. Barnard concluded, “We enter fiscal 2026 with strong financial momentum and a very healthy balance sheet. We generated more than $180 million of operating cash flow over the past two years. With our heavy capital investment cycle now complete and capital expenditures expected to step down to approximately $40 million in fiscal 2026, we are positioned to accelerate free cash flow generation which provides us with great flexibility to create value for our shareholders.”

See the full report here.