Mission Produce Q1 net loss $8.8M, revenue $213.5M, avocado volume +14% YoY

Mission Produce, Inc.

2023-Q1 EPS reported -$0.12 revenue$213,500,000

Net loss of $(8.8)M ($(0.12) diluted EPS); adjusted net loss $(5.0)M ($(0.07) diluted).
Revenue $213.5M, down 1% YoY; avocado volume sold up 14% to 152.3M pounds.
Adjusted EBITDA $2.3M vs $(10.4)M in prior year; gross margin improved 400 bps to 4.2%.
Q2 guidance: avocado pricing expected down 30-35% YoY due to larger Mexican harvest.
Blueberries segment posted negative EBITDA of $(0.5)M on weak pricing in Europe and US.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mission Produce, Inc. reported the fiscal first quarter ended January 31, 2023 results: revenue $213.5 million, net income $(8.8) million, EPS $(0.12) per diluted share.

Period: the fiscal first quarter ended January 31, 2023
Revenue: $213.5 million
Net income: $(8.8) million
EPS: $(0.12) per diluted share
Result: reported results

Exact text from the filing

Mission Produce, Inc. (Nasdaq: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today reported its financial results for the fiscal first quarter ended January 31, 2023. Fiscal First Quarter 2023 Highlights: • Avocado volume sold increased 14% to 152.3 million pounds compared to the same period last year • Total revenue of $213.5 million, a 1% decrease compared to the same period last year • Net loss of $(8.8) million, or $(0.12) per diluted share, compared to $(13.4) million, or $(0.19) per diluted share, for the same period last year

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Source: SEC EDGAR

accession 0001802974-23-000005

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