Mission Produce Inc. AVO reported its fourth-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.
The Details: Mission Produce reported quarterly earnings of 28 cents per share and quarterly revenue of $354.4 million, which beat the analyst consensus estimate of $220.4 million.
“Mission delivered a strong fourth quarter that rounded out an exceptional full-year fiscal 2024 performance where we realized $1.23 billion in revenue and generated $107.8 million in adjusted EBITDA, demonstrating the strength of our business model and industry-leading positioning,” stated Steve Barnard, CEO of Mission Produce.
“As previously announced, our Marketing & Distribution segment drove the strong fourth quarter performance, successfully leveraging our global sourcing network amid a sustained higher pricing environment to achieve per-unit margins exceeding our targeted range. The positive impact of our fourth quarter performance combined with our solid operational execution across the fiscal year drove a $64.2 million increase in operating cash flow versus fiscal 2023, further strengthening our capital structure and enhancing our flexibility,” Barnard added.
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Outlook: The company sees first-quarter industry volumes consistent with the prior period and pricing higher by approximately 20% year-over-year.
AVO Price Action: According to Benzinga Pro, Mission Produce shares are up 9.58% after-hours at $13.50 at the time of publication Thursday.
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