Welcome to our dedicated page for Mission Produce news (Ticker: AVO), a resource for investors and traders seeking the latest updates and insights on Mission Produce stock.
Mission Produce, Inc. (NASDAQ: AVO) regularly issues news and updates that reflect its role in the global fresh produce industry, particularly in Hass avocados, mangos and blueberries. Company news often highlights financial performance, strategic initiatives and developments in its vertically integrated platform spanning growing, sourcing, packing, marketing and distribution.
Investors following AVO news can expect detailed earnings announcements each quarter, including discussions of revenue trends, avocado volumes, segment performance across Marketing & Distribution, International Farming and Blueberries, and non-GAAP metrics such as adjusted net income and adjusted EBITDA. These releases frequently explain how harvest conditions, pricing dynamics and sourcing from regions like Mexico and Peru influence results.
Mission Produce’s news flow also covers strategic and corporate actions. Recent communications include a definitive agreement to acquire Calavo Growers, Inc., described as a transaction intended to expand Mission’s North American avocado business, diversify its portfolio into additional fresh produce categories and represent an entry into the prepared food segment, subject to regulatory and shareholder approvals. Other announcements address leadership succession, with plans for the company’s President and Chief Operating Officer to become Chief Executive Officer and the co-founder transitioning to Executive Chairman, as well as board refreshment with new independent directors who bring experience in food, agriculture and consumer sectors.
Operational updates in Mission Produce news may discuss capital expenditure programs, packhouse construction in Guatemala, orchard development and the impact of harvest seasons on avocado and blueberry volumes. For readers tracking AVO, this news page provides a centralized view of the company’s financial disclosures, governance changes and strategic moves within the global fresh produce market.
Mission Produce, Inc. (Nasdaq: AVO) will release its financial results for the fiscal third quarter ending July 31, 2022, after market close on September 8, 2022. Following the announcement, a conference call will be held at 5:00 PM ET to discuss the results. Investors can access the call by phone or through a live audio webcast on the Company’s Investor Relations website. Mission Produce is a leader in the avocado market, operating in over 25 countries, with four packing facilities and a global distribution network.
Mission Produce has successfully imported some of the first avocados from Jalisco, Mexico to the U.S. after USDA certification. This new supply source aims to enhance the availability of high-quality avocados to meet increasing U.S. demand. The company anticipates an initial export of 3,000 to 5,000 tons of Hass avocados weekly, sourced from over 600 orchards. This move is expected to extend the avocado season in the U.S. by approximately 6 to 8 weeks, bolstering Mission's distribution strategy and supporting the growth of avocado consumption in the U.S.
Mission Produce (Nasdaq: AVO) reported Q2 fiscal 2022 results with total revenue of $278.1 million, an 18% increase year-over-year, driven by a 44% rise in average avocado prices, offset by a 19% decline in volume sold. Net income dropped to $2.4 million, or $0.03 per share, from $7.4 million, or $0.10 per share last year. Adjusted EBITDA fell to $9.2 million from $16.3 million. Operational challenges from ERP implementation were noted, but demand remains strong amid supply constraints. The company aims for improved volumes in Q3 as Peruvian production ramps up.
Mission Produce, Inc. (NASDAQ: AVO) will release its fiscal second quarter financial results for the period ending April 30, 2022, after market close on June 8, 2022. A conference call is scheduled for the same day at 5:00 PM Eastern Time to discuss these results. Investors can participate by dialing (877) 407-9039 or access the live audio webcast via the Company’s Investor Relations website. Mission Produce is a leader in sourcing and distributing fresh avocados, operating four packing facilities and a global distribution network.
Mission Produce has appointed Timothy Bulow as President and Chief Operating Officer, effective August 1, 2022. Bulow brings over 30 years of experience in global operations and business development, having previously held key positions at companies like General Mills and Minor International. Founder Steve Barnard will remain as CEO, emphasizing Bulow's extensive operational expertise will further the company’s strategic growth plans. Mission Produce continues to lead in the avocado market, sourcing from multiple countries to meet global demand while expanding its product offerings.
Mission Produce, Inc. (Nasdaq: AVO) reported fiscal Q1 2022 results with a 25% revenue increase to $216.6 million, driven by a 50% rise in avocado selling prices. However, the company faced a net loss of $13.4 million compared to a net income of $2.2 million last year, primarily due to operational challenges from ERP system implementation and an 18% decline in avocado volumes. Adjusted EBITDA was $(10.4) million. Despite these challenges, Mission maintained market share and gained new customers.
Mission Produce (Nasdaq: AVO) will report its financial results for the fiscal first quarter ending January 31, 2022, on March 10, 2022, after market close. Following the release, a conference call will be held at 5:00 PM ET, accessible via phone or live audio webcast. The company specializes in sourcing, producing, and distributing fresh avocados globally, operating four packing facilities and a significant acreage for diversified sourcing. Mission Produce has established a robust distribution network across major regions, ensuring a year-round supply for its customers.
Mission Produce (NASDAQ: AVO) has launched the "It's Your Game Too" campaign, promoting avocados during the Big Game, a peak consumption period. This initiative targets consumers’ love for food during the event, with nearly 20% ranking food as the top enjoyment factor. Research shows 90% watch at home or parties, making it ideal for 'guacuterie' boards. Mission highlights avocados' health benefits, aligning with consumer trends for healthier options at gatherings. The campaign engages influencers to boost Mission Avocados' visibility in festive spreads.
Mission Produce, the global leader in the avocado industry, announced participation in the 2022 ICR Conference. CEO Steve Barnard and CFO Bryan Giles will host a fireside chat on January 11th at 9:00 am ET. The event will be accessible via live audio webcast on the Company’s Investor Relations website.
Founded in 1983, Mission Produce sources, produces, and distributes fresh Hass avocados and mangos to over 25 countries, maintaining four advanced packing facilities and a comprehensive distribution network.
Mission Produce reported a 15% revenue increase in Q4 2021, totaling $237 million, aided by a 21% rise in average avocado selling prices despite a 5% decline in sold volume. The gross profit stood at $33.8 million, down 14%, resulting in a gross profit margin of 14.3%. Net income fell to $16.9 million, or $0.24 per diluted share, down from $18.8 million a year earlier. For the full year, revenue grew 3% to $891.7 million, driven by a 5% rise in avocado volumes. The CEO highlighted challenges including supply chain issues and lower margins, while maintaining confidence in future growth strategies.