Mission Produce, a leading Hass avocado producer and distributor, announced record fiscal first-quarter revenue in its first financial results of 2025.

The report attributes the record number to the marketing and distribution segment, the department behind average per-unit avocado selling prices increasing 25% on a 5% increase in avocado volumes sold.

The company's first-quarter financial overview shows the company's total revenue increased 29% to $334.2 million compared to the same period last year.

It also listed an increase in net income of $3.9 million, or $0.05 per diluted share, compared to $0.0 million, or $0.00 per diluted share, for the same period last year, and an increase in gross profit of $2.8 million in the first quarter of fiscal 2025 to $31.5 million.

Adjusted EBITDA decreased by 8% to $17.7 million, compared to $19.2 million in the same period last year. The report said this is primarily due to the impact of lower per-unit gross margins on avocados sold. 

Steve Barnard, CEO of Mission, said, “We were pleased to meet robust consumer demand in our fiscal first quarter and deliver volume growth despite industry supply challenges in Mexico." 

Blueberries 

Blueberry revenue also increased, primarily due to a 70% increase in volume sold, a number that was partially offset by a 33% decrease in average per-unit selling prices. 

Net sales in the Blueberries segment increased 12% to $36.4 million for the first quarter, compared to $32.5 million for the same period last year.

"Higher blueberry volume was driven by increased total acreage and yields from Company farms, while price decreases were driven by a normalization of the supply and demand environment this year," the report clarifies.