Mission Produce Blueberry Sales Rise to $5.4 Million as Seasonal Ramp Looms

Zacks Investment Research··USPE·Read original
2▲1 ▼1Impact / 5
Summary · why it matters

Mission Produce's blueberry business is emerging as a potentially meaningful complementary operation beyond its core avocados, with fiscal third-quarter blueberry sales rising to $5.4 million from $4.5 million a year earlier. Segment adjusted EBITDA, however, slipped to a loss of $0.1 million from a profit of $0.5 million, a swing management attributes to pronounced seasonality, noting that most blueberry sales and profitability are concentrated in the fiscal fourth and first quarters. Management expects the seasonal blueberry ramp to support a meaningful improvement in fourth-quarter cash generation and cited it as one of the drivers behind a projected sequential increase in adjusted EBITDA, as newer acreage in Peru matures and yields improve. Separately, Corteva is positioned to benefit from sustained demand for agricultural productivity solutions across its seeds, crop protection and biological offerings, while Dole faces supply- and cost-driven margin pressure in its Fresh Fruit segment from higher fruit sourcing, shipping and fuel costs, adverse weather affecting pineapple availability and unfavorable currency movements, partly cushioned by stronger performance in its Diversified Fresh Produce — Americas & ROW segment on healthy kiwi and avocado volumes. Mission Produce shares have gained 13.3% in the last three months versus the industry's 4.5% growth, and the stock trades at a forward price-to-earnings ratio of 16.66X against the industry's average of 14.89X.

Impact on assets 4

Consumer Staples± Mixed · 2 stocks
Mission Produce Inc
AVO
▲ PositiveDemandrelevance

Blueberry sales rose to $5.4M from $4.5M as newer Peru acreage matures, with a seasonal Q4 ramp expected to lift cash generation and EBITDA.

Dole PLC
DOLE
▼ NegativeSupplyrelevance

Dole faces supply- and cost-driven margin pressure in Fresh Fruit from higher sourcing, shipping and fuel costs and adverse weather hitting pineapple availability.

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