Mission Produce Q2 net loss $4.6M, revenue down 20% to $221.1M on avocado price deflation

Mission Produce, Inc.

2023-Q2 EPS reported -$0.19 revenue$434,600,000

Net loss $(4.6)M ($(0.07)/diluted) vs net income $2.4M ($0.03) prior year; adjusted net income $0.5M ($0.01).
Revenue $221.1M, down 20% YoY; avocado prices down 36% partially offset by 19% volume increase.
Adjusted EBITDA $7.6M, down 17% from $9.1M prior year.
Owned Peruvian production guided 125M-135M lbs; new UK distribution center commenced operations.
Industry Q3 avocado volumes expected ~20% higher YoY; pricing expected down 35-40% vs $2.03/lb in Q3 FY2022.

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 0.85

Mission Produce, Inc. reported the fiscal second quarter ended April 30, 2023 results: revenue $221.1 million, net income $(4.6) million, EPS $(0.07) per diluted share.

Period: the fiscal second quarter ended April 30, 2023
Revenue: $221.1 million
Net income: $(4.6) million
EPS: $(0.07) per diluted share
Result: reported results

Exact text from the filing

today reported its financial results for the fiscal second quarter ended April 30, 2023. Fiscal Second Quarter 2023 Financial Overview: • Total revenue decreased 20% to $221.1 million compared to the same period last year driven by deflationary pressure on avocado sales prices as a result of robust Mexican harvest volumes • Net loss of $(4.6) million, or

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Source: SEC EDGAR

accession 0001802974-23-000014

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