Mission Produce revenue up 10 percent for Q3
Global fresh produce leader and avocado giant Mission Produce reported positive numbers for its Q3 2025 financial results.
Through a press release, the company celebrated a 10 percent revenue increase totaling $357.7 million. Net income was up as well—$14.7 million for Q3 2025 as compared $12.4 million for the same period last year. Adjusted net income went up $1.5 million compared to Q3 2024, and adjusted EBITDA increased by three percent, totaling $32.6 million.
"This quarter, our commercial team demonstrated its unique ability to effectively program our owned Peruvian production to strategically deliver fruit into multiple global regions, resulting in supply consistency for our consumers and another quarter of strong financial performance," said Steve Barnard, CEO of Mission.
The executive emphasized that the company's vertically integrated model allows it to provide category leadership and drive global consumption.
"With our strong operational performance and continued focus on working capital management, we generated $34 million of operating cash flow during the third quarter and expect to build on this in the fourth quarter as we sell the balance of our owned-crop inventory," he added.
Fiscal Third Quarter 2025 Consolidated Financial Review
According to Mission, the 10 percent revenue increase was primarily driven by the Marketing & Distribution segment. Here, avocado volume sold increased 10 percent, partially offset by a decrease in average per-unit avocado sales prices of five percent.
Volume and price movements were driven by higher Peruvian avocado production, resulting from more favorable weather conditions and increased availability of Mexican fruit following harvest disruptions in the previous year.
Gross profit increased $8.1 million or 22 percent in the third quarter of fiscal 2025 to $45.1 million, while gross profit percentage increased 120 basis points compared to the same period last year, to 12.6 percent of revenue. The increase was driven by the International Farming segment where avocado production was significantly higher due to increased yields at our farms.
Sales in the blueberries segment have traditionally been concentrated in the first and fourth quarters of the fiscal year in alignment with the Peruvian blueberry harvest season.
Net sales in the blueberries segment increased $2.9 million or 181 percent to $4.5 million for the third quarter, compared to $1.6 million for the same period last year, primarily due to higher volume produced on our farms and higher average per-unit sales price.
Segment adjusted EBITDA increased $0.4 million or 400 percent for the three months ended July 31, 2025 compared to the same period last year due to the blueberry volume and pricing dynamics described above.
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