By Katherine Hamilton

Mission Produce logged higher sales in the fiscal third quarter as a strong avocado harvest from Peru boosted sales volume.

The avocado producer on Monday posted a profit of $14.7 million, or 21 cents a share, in the quarter ended July 31, compared with $12.4 million, or 17 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 26 cents.

Revenue rose 10% to $357.7 million. The sales increase was driven by improved distribution of Mission's avocados grown in Peru. The higher Peruvian avocado production increased the volume of avocados sold by 10%, with the sale price down 5%.

In the current fourth quarter, Mission expects avocado volumes to increase 15% from the prior year because the harvest from Peru is projected to be strong. The Mexican crop of avocados is expected to be larger than the previous year due to favorable weather.

Pricing is anticipated to be lower by about 20% to 25% compared with last year's average price of $1.90 per pound. The expected decline is correlated with higher volumes available in the U.S. and internationally, Mission said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

September 08, 2025 16:20 ET (20:20 GMT)

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