Mission Produce's Q1 2025: Navigating Contradictions in Blueberry Growth, Tariff Impacts, and Market Strategies

These are the key contradictions discussed in Mission Produce's latest 2025Q1 earnings call, specifically including: Blueberry Production and Market Saturation, The Impact of Potential Tariffs on Trade with Mexico, Peruvian Avocado Harvest and Yield Expectations, and California Market Share Growth Strategy:



Revenue Growth and Segment Performance:
- Mission Produce reported record first quarter revenue of $334.2 million, a 29% increase compared to the same period last year.
- Growth was driven by strong performance in the Marketing and Distribution segment, with a 32% increase in revenue, and the Blueberry segment, which saw a 12% increase in revenue.

Avocado Market Dynamics:
- The Marketing and Distribution segment achieved a 5% increase in avocado volumes sold and a 25% increase in per unit avocado selling prices relative to the prior year period.
- This growth was despite industry supply challenges in Mexico, demonstrating the resilience of consumer demand for avocados.

Expansion into Blueberries and Mangoes:
- Mission Produce reported a 12% increase in revenue for its Blueberry segment, with over 100 hectares of new plantings coming online.
- The company is investing in the growth of its mango program, as it sees significant potential in the underrepresented North American market.

Operational Strategies and Diversification:
- The company maintained its focus on expanding its global sourcing footprint to ensure reliable year-round supply, with improved International Farming segment adjusted EBITDA of $2.3 million year-over-year.
- Diversification into complementary food categories and operational efficiency efforts, such as facility closures, were undertaken to strengthen the long-term cost structure.