Mission Produce, a global leader in fresh Hass avocados, mangos, and blueberries, provided an update on its business and financial performance for the fiscal fourth quarter ended Oct. 31, 2024, ahead of its participation in upcoming investor events.

The company plans to release its fiscal fourth quarter and full-year 2024 results, along with forward-looking industry outlooks, in December.

For the fourth quarter of 2024, Mission Produce expects total revenue to exceed $320 million, up from $257.9 million during the same period last year.

“This performance was driven primarily by the Marketing & Distribution segment, reflecting a continuation of the strong pricing environment on volumes consistent with prior expectations,” Mission Produce said in a release.

Additionally, adjusted EBITDA is expected to exceed $28 million, compared to $17.3 million last year, mainly due to stronger per-unit margin performance in the Marketing & Distribution segment, a trend demonstrated throughout the fiscal year.

“We expect to deliver strong fourth quarter top and bottom-line results that demonstrate continued momentum across our business and our team’s focus on driving improved results,” stated Mission Produce CEO Steve Barnard.

The company noted that the press release includes the non-GAAP financial measure “adjusted EBITDA.” Management believes this measure provides useful insights for analyzing underlying business results but is not in accordance with, nor a substitute for, generally accepted accounting principles (GAAP).

“Looking ahead, we remain excited about our position and will continue to focus on operational excellence, strategic growth initiatives, and sound capital allocation to drive long-term shareholder value,” Barnard added.