Steve Barnard says the group expects to record strong top and bottom-line results in the fourth quarter
Avocado leader Mission Produce has provided a business and financial performance update for the fiscal fourth quarter (Q4) ended 31 October, ahead of its participation in upcoming investor events.
Total revenue is expected to exceed US$320mn compared to US$257.9mn in the same period last year, it said, driven primarily by the marketing and distribution segment, reflecting ”a continuation of the strong pricing environment on volumes consistent with prior expectations”.
Adjusted EBITDA is expected to exceed US$28mn compared with US$17.3mn in Q4 2023.
“We expect to deliver strong fourth quarter top and bottom-line results that demonstrate continued momentum across our business and our team’s focus on driving improved results,” stated Steve Barnard, CEO of Mission.
“We expect our marketing and distribution segment to deliver another strong performance, as our team effectively leveraged our global sourcing network amid a sustained higher pricing environment to achieve per-unit margins exceeding our targeted range.
”Looking ahead, we remain excited about our position and will continue to focus on operational excellence, strategic growth initiatives, and sound capital allocation to drive long-term shareholder value,” he added.
