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Oct 31, 2025
Mission Produce Q4 2025 Earnings Report
Mission Produce announced its fiscal fourth quarter and full year 2025 financial results, reporting a decrease in total revenue but an increase in adjusted net income and adjusted EBITDA for the quarter.
Key Takeaways
Mission Produce reported a total revenue of $319.0 million for the fiscal fourth quarter of 2025, a 10% decrease compared to the same period last year. Despite the revenue decline, the company saw a 13% increase in adjusted net income to $22.2 million and a 12% increase in adjusted EBITDA to $41.4 million. The decrease in revenue was primarily driven by lower per-unit avocado sales prices, partially offset by a 13% increase in avocado volume sold.
Total revenue for Q4 2025 decreased by 10% to $319.0 million compared to the prior year, primarily due to lower per-unit avocado sales prices.
Adjusted net income for Q4 2025 increased by 13% to $22.2 million, or $0.31 per diluted share.
Adjusted EBITDA for Q4 2025 increased by 12% to $41.4 million, driven by increased owned avocado production and higher avocado volume sold.
Avocado volume sold increased by 13% in Q4 2025, reaching 181.5 million pounds.
Revenue by Segment
Forward Guidance
For the first quarter of fiscal year 2026, Mission Produce anticipates an increase in avocado industry volumes and lower pricing, with continued profitability challenges in blueberries due to higher costs and lower projected yields.
Positive Outlook
- Avocado industry volumes in Q1 2026 are expected to increase by approximately 10% versus the prior year period, driven by a larger Mexican crop.
- Blueberries harvest season in Peru will peak during Q1, with volume increases from new acreage in production expected to translate to higher revenue.
- Total capital expenditure for full year fiscal 2026 is expected to be approximately $40 million, a step down from previous years.
- The company is well-positioned to accelerate free cash flow generation in FY26.
- Strong financial momentum and a healthy balance sheet are expected entering fiscal 2026.
Challenges Ahead
- Avocado pricing is expected to be lower on a year-over-year basis by approximately 25% compared to Q1 2025, driven by higher supply conditions.
- Blueberry profitability will continue to be impacted by higher costs resulting from lower projected yields per hectare in the current harvest season.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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