Mission Produce’s financial results for the second quarter of fiscal 2025 show a 28% increase in revenue, reaching $380.3 million compared to the same period last year.

According to the company, the growth in sales was primarily driven by robust avocado pricing due to Mexican supply constraints, which resulted in a 26% increase in the average selling price to $2 per pound.

"Consumer demand outpaced supply, driving higher per-unit pricing as continuing constraints on Mexican fruit availability limited volume," the report states. 

Regarding the high numbers, Steve Barnard, CEO of Mission, stated that the Mission Produce commercial team navigated seasonal supply challenges by leveraging its industry-leading global sourcing network to meet customer commitments.

"While market pricing remained elevated during the second quarter and surpassed our expectation, distributed volumes were flat with the prior year period, which speaks to the durability of consumption and the growing consistency of the category at retail," he added in the financial statement. 

The leaders in sourcing, producing, and distributing fresh Hass avocados also reported a decrease in adjusted EBITDA of $19.1 million, compared to $20.2 million in the same period last year, driven primarily by lower per-unit gross margins on sold avocados. 

Total sales in the International Farming segment for the second quarter increased $6.7 million or 479% to $8.1 million, compared to $1.4 million for the same period last year. Segment adjusted EBITDA also increased.

Blueberry net sales increased 57% to $15.7 million for the second quarter, primarily due to higher volume driven by increased total acreage and higher yields from owned farms.

The company expects industry volumes to be approximately 10-15% higher in the fiscal 2025 third quarter versus last year, and for exportable avocado production from owned farms in Peru to range between 100 million and 110 million pounds. 

Pricing is expected to decrease on a YoY basis by 10-15% compared to the $1.84 per pound average experienced in third quarter of fiscal 2024.  

The decrease in pricing is directly correlated with "expectations of higher volumes available in U.S. and international markets."