NASDAQ$AVO
Mission Produce Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Mission Produce's financial performance for the fiscal third quarter of 2021 was announced, highlighting revenue growth and navigating industry volatility.
Mission Produce reported a 4% increase in revenue to $246.8 million for the third quarter of fiscal 2021. Net income was $18.4 million, or $0.26 per diluted share. The company navigated industry volatility with its global sourcing and distribution network and owned production in Peru.
- Total revenue increased by 4% to $246.8 million compared to the same period last year.
- Avocado volume sold increased 2%, and the average selling price increased 2% compared to the same period last year.
- Gross profit was $40.9 million, with a gross profit percentage of 16.6%.
- Net income was $18.4 million, or $0.26 per diluted share, compared to $23.4 million, or $0.37 per diluted share, for the same period last year.
Headline financials
Revenue & EPS history
Mission Produce · Revenue · Quarterly
$247M
Revenue by segment
Mission Produce · $39.6M total across 2 segments · Q3 2023
- International Farming$38.2M+855.0%96.5%
- Blueberries$1.4M+366.7%3.5%
Forward guidance
Mission Produce updated its full fiscal year modeling assumptions for sales, volume and adjusted EBITDA.
Tailwinds
- Full year fiscal 2021 net sales are now expected in the range of $890 million to $910 million.
- Expectations for avocado production from owned farms remains unchanged in the range of 95 million to 105 million pounds.
Headwinds
- Total annual volume in the range of 655 million to 665 million pounds, which is lower than prior guidance by approximately 15 million pounds, partially due to a smaller size curve on Mexican fruit.
- Full year fiscal 2021 adjusted EBITDA is now expected in the range of $88 million to $94 million, but may be influenced by future pricing and margin dynamics.
- The reduction in adjusted EBITDA from prior guidance is due primarily to the shortfalls experienced in fiscal third quarter, combined with continued pressure on per-unit gross margins that are extending into the early part of the fiscal fourth quarter, due to challenging supply conditions in Mexico.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
-0.8%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-3.4%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+21.1%
Q3 2024
Best reaction
-18.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +7.6% | +11.0% | — | |
| Q1 2026 | -8.2% | -5.6% | +11.9% | |
| Q4 2025 | +0.3% | -10.4% | -5.3% | |
| Q3 2025 | +1.7% | -1.0% | -9.0% | |
| Q2 2025 | +0.0% | +1.9% | -3.9% | |
| Q1 2025 | -13.2% | -14.5% | -17.5% | |
| Q4 2024 | +14.7% | +14.2% | -0.9% | |
| Q3 2024 | +21.1% | +22.8% | +14.0% | |
| Q2 2024 | -3.5% | -9.7% | -15.5% | |
| Q1 2024 | +9.0% | +9.6% | +4.1% | |
| Q4 2023 | +10.4% | +14.2% | +8.9% | |
| Q3 2023 | -3.2% | +3.1% | +5.0% | |
| Q2 2023 | +6.4% | -3.1% | -6.0% | |
| Q1 2023 | -5.4% | -4.4% | +0.6% | |
| Q4 2022 | -18.1% | -22.9% | -20.7% | |
| Q3 2022 | +0.3% | -1.1% | -7.3% | |
| Q2 2022 | +5.3% | -0.4% | +4.7% | |
| Q1 2022 | -10.7% | -12.9% | -2.1% | |
| Q4 2021 | -11.0% | -10.9% | -23.8% | |
| Q4 2019 | -11.0% | -10.9% | -23.8% | |
| Q3 2021 | -10.3% | -2.9% | -7.9% | |
| Q3 2020 | -10.3% | -2.9% | -7.9% | |
| Q2 2021 | +3.5% | +2.2% | -5.8% | |
| Q1 2021 | +1.6% | -0.7% | -6.0% | |
| Q4 2020 | +3.8% | +3.6% | +33.1% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro