NASDAQ$AVO
Mission Produce Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Announced fiscal 2021 fourth quarter financial results.
Mission Produce reported a 15% increase in revenue to $237.0 million, driven by higher average selling prices, though avocado volume sold decreased by 5%. Net income was $16.9 million, compared to $18.8 million for the same period last year. The business faced significant headwinds including Mexico’s challenging supply dynamic, port delays and logistics issues, and the variability in consumer shopping patterns due to the ever-changing COVID conditions negatively impacted their profitability.
- Total revenue increased by 15% to $237.0 million, driven by a 21% increase in average selling prices.
- Gross profit decreased to $33.8 million, with gross profit percentage declining to 14.3% of revenue.
- Net income decreased to $16.9 million, or $0.24 per diluted share, compared to $18.8 million, or $0.29 per diluted share, for the same period last year.
- Adjusted EBITDA decreased to $26.4 million compared to $32.1 million for the same period last year.
Headline financials
Revenue & EPS history
Mission Produce · Revenue · Quarterly
$237M
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
For the first quarter of fiscal year 2022, the Company is providing the following industry outlook that will drive performance as the business shifts back to its Marketing & Distribution segment
Tailwinds
- Pricing is expected to be relatively steady on a sequential basis
- Pricing is expected to imply a year-over-year increase of approximately 40% compared to the $1.04 per pound average experienced in first quarter of fiscal 2021.
Headwinds
- The industry is expecting volumes to be flat to slightly down in the fiscal 2022 first quarter versus the prior year period, primarily due to supply constraints associated with the Mexican harvest.
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 Q4 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 | — | — | — |
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