Mission Produce, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2021
December 23, 2021 at 02:35 am IST
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Mission Produce, Inc. reported earnings results for the fourth quarter and full year ended October 31, 2021. For the fourth quarter, the company reported sales was USD 237 million compared to USD 206.8 million a year ago. Net income was USD 16.9 million compared to USD 18.8 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to USD 0.29 a year ago.
For the full year, sales was USD 891.7 million compared to USD 862.3 million a year ago. Net income was USD 44.9 million compared to USD 28.8 million a year ago. Basic earnings per share from continuing operations was USD 0.64 compared to USD 0.45 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 0.45 a year ago.
Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.
MISSION PRODUCE, INC. 
