Mission Produce reported its financial results for the fiscal fourth quarter and full year ended October 31, 2025, alongside an announced leadership succession plan.
For the full fiscal year 2025, the company recorded total revenue of US$1.39 billion, representing a year-over-year increase of 13%, with total avocado volume sold rising 7%. Net income attributable to Mission Produce increased to US$37.7 million, or US$0.53 per diluted share, compared with US$36.7 million, or US$0.52 per diluted share, in the prior year. Adjusted net income reached US$56.2 million, while adjusted EBITDA increased to US$110.8 million.
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Exportable avocado production sold from the company's Peruvian orchards rose by approximately 144% to 105 million pounds during the 2025 harvest season. The increase followed a return to more typical growing conditions after weather-related disruptions in the previous year. Cash flow from operations for the full year was US$88.6 million, compared with US$93.4 million in fiscal 2024. Over the past two fiscal years combined, operating cash flow totaled nearly US$180 million. Capital expenditures are expected to decline to around US$40 million in fiscal 2026.
For the fourth quarter of fiscal 2025, total revenue declined 10% year over year to US$319.0 million. Net income attributable to Mission Produce was US$16.0 million, or US$0.22 per diluted share, compared with US$17.3 million, or US$0.24 per diluted share, in the same period last year. Adjusted net income increased to US$22.2 million, and adjusted EBITDA rose 12% to US$41.4 million.
In the Marketing and Distribution segment, fourth-quarter net sales decreased 15% to US$271.9 million, reflecting a 27% decline in average per-unit avocado prices, partially offset by a 13% increase in volume sold. Segment operating income increased 9%, supported by higher sales volumes.
The International Farming segment reported fourth-quarter sales of US$59.6 million, nearly double the level of the prior year period. Segment operating income improved to US$2.1 million, compared with a loss of US$2.5 million a year earlier. Adjusted EBITDA rose to US$8.4 million, driven by higher orchard yields and increased avocado packing and cooling services provided to third parties.
In the Blueberries segment, fourth-quarter net sales increased 16% to US$36.5 million, reflecting higher production volumes from expanded acreage. Segment operating income declined to US$4.9 million, and adjusted EBITDA fell to US$4.7 million, primarily due to higher unit costs associated with lower projected yields per hectare.
Alongside the earnings release, Mission Produce announced a leadership transition. Founder and CEO Steve Barnard will move into the role of Executive Chairman, while John Pawlowski is scheduled to assume the CEO position at the company's annual meeting in April 2026.
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For more information:
Jenna Aguilera
Mission Produce
Tel: +1 805 981 3650
Email: [email protected]
www.investors.missionproduce.com
