secwatch.observer — SEC 8-K summary
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Issuer:     Mission Produce, Inc. (AVO)
CIK:        0001802974
Form:       8-K
Filed at:   2023-09-11T23:59:59+00:00
Accession:  0001802974-23-000028
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mission Produce Q3 rev down 17% to $261.4M, adj EPS $0.15; cuts Peru volume outlook
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- Revenue $261.4M (-17% YoY); net income $6.6M ($0.09 diluted) vs $18.4M ($0.26); adj. net income $10.3M ($0.15) vs $18.9M ($0.27).
- Adjusted EBITDA fell 33% to $21.2M, pressured by lower International Farming margins and reduced Peruvian volumes due to weather.
- Avocado volume up 23% YoY, but average price down 33%; Marketing & Distribution segment EBITDA up 4% to $16.1M on higher volume.
- International Farming sales down 41% to $38.2M, segment EBITDA down 70% to $4.9M on lower farm-gate pricing.
- Board authorized up to $20M stock repurchase over 36 months; Q4 outlook: pricing up ~10% YoY, own-farm export volume revised to 105-115M lbs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802974/000180297423000028/0001802974-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802974/000180297423000028/avo-20230911.htm
  HTML page:      https://secwatch.observer/filing/0001802974-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer