Trade Mission Produce Inc - AVO CFD

Mission Produce, Inc. Company profile

About Mission Produce Inc

Mission Produce, Inc. is engaged in the farming, packaging, marketing and distribution of avocados to food retailers, distributors and produce wholesalers. The Company procures avocados principally from California, Mexico and Peru. It operates through two operating segments: Marketing and Distribution and International Farming. The Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. The International Farming segment's farming activities range from cultivating early-stage plantings to harvesting from mature trees, and it also earns service revenues for packing and processing for producers of other crops during the avocado off-harvest season. Its International Farming segment is principally located in Peru, with smaller operations in other areas of Latin America.

Financial summary

BRIEF: For the three months ended 31 January 2022, Mission Produce Inc revenues increased 25% to $216.6M. Net loss totaled $13.4M vs. income of $2.2M. Revenues reflect Marketing & Distribution segment increase of 25% to $212.3M, International Farming segment increase of 19% to $4.3M. Net loss reflects Equity method income decrease of 30% to $1.6M (income), Other income (expense), net - decrease of 50% to $200K (income).