<p>Mission Produce, Inc. ((AVO)) 已召開其第四季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
<h3>享受 TipRanks Premium 50% 折扣，放心投資</h3>
<ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
<p>Mission Produce 最新的財報電話會議描繪了公司在 2025 財年實現創紀錄收入和銷量的良好勢頭和嚴謹執行，儘管在某些領域面臨價格壓力和利潤壓力。管理層強調了在鱷梨價格下跌和藍莓利潤挑戰面前的韌性，得益於強勁的現金生成、降低的債務以及旨在加速國際增長下一階段的領導層過渡。</p>
<h2>創紀錄的收入和銷量增長</h2>
<p>Mission Produce 將 2025 財年視為一個決定性年份，創下了 13.9 億美元的收入，比去年增長了 13%。公司還創下了 6.91 億磅鱷梨的銷售記錄，銷量增長了 7%。這種收入擴張和銷量增長的結合凸顯了公司在價格環境較軟的情況下仍能擴大市場份額的能力，進一步鞏固了其在全球鱷梨分銷中的規模優勢。</p>
<h2>國際市場表現強勁</h2>
<p>國際市場在 2025 年成為主要的增長引擎。英國的收入增長超過 60%，推動歐洲整體銷量增長 40%。在歐洲和亞洲的更強滲透幫助多樣化收入來源，減少對任何單一地區的依賴。這種國際勢頭突顯了 Mission Produce 在利用其全球網絡和深化與海外零售商及餐飲合作伙伴關係方面的成功。</p>
<h2>國際農業部門的強勁表現</h2>
<p>公司的國際農業業務表現突出，尤其是在秘魯。秘魯的鱷梨產量同比增長超過一倍，銷售約 1.05 億磅，而上個季節為 4300 萬磅。這種自有農業資產的擴展支持了更可靠的供應，提高了成本可見性，併為應對第三方採購的波動提供了戰略對沖。</p>
<h2>藍莓和芒果擴展</h2>
<p>除了鱷梨，Mission Produce 繼續擴展其多樣化的農產品平台。藍莓銷量因秘魯的種植面積擴大而增加，而芒果業務也獲得了市場份額，市場份額上升至 5.2%，比去年增加了 150 個基點。這些增長表明公司能夠利用其基礎設施和客户關係來發展互補類別，即使它們面臨自身的利潤動態。</p>
<h2>盈利能力指標改善</h2>
<p>隨着收入增長，財務表現也得到了加強。調整後的 EBITDA 增長 12%，達到創紀錄的 4140 萬美元，反映了運營槓桿和改善的產出。調整後的淨收入攀升至 2220 萬美元，高於去年同期的 1960 萬美元。這些指標表明 Mission Produce 不僅在擴大收入，還在將更多的增長轉化為盈利，這對關注盈利能力和現金回報的投資者來説是一個重要信號。</p>
<h2>強勁的現金流和去槓桿化</h2>
<p>資產負債表和現金狀況在一年中顯著改善。Mission Produce 產生了 8860 萬美元的經營現金流，為公司提供了投資和降低槓桿的財務靈活性。長期債務減少了 1800 萬美元，利息支出減少了 320 萬美元，表明財務負擔降低。這一去槓桿化趨勢增強了公司的韌性，使其能夠資助戰略舉措而不必過度拉伸資產負債表。</p>
<h2>鱷梨價格下跌的影響</h2>
<p>並非所有指標都朝同一方向發展。第四季度收入為 3.19 億美元，同比下降 10%，主要由於每單位鱷梨銷售價格下降 27%。儘管銷量保持健康，但價格環境對季度收入造成了壓力。管理層通過提高銷量和運營紀律來抵消部分壓力的能力，將是投資者關注商品影響類別盈利穩定性的關鍵因素。</p>
<h2>藍莓部門的利潤壓力</h2>
<p>公司的藍莓部門面臨顯著的利潤壓力。該部門的調整後 EBITDA 從 860 萬美元下降至 470 萬美元，受到每單位利潤下降和每公頃預期產量降低的壓力。儘管藍莓銷量上升，但盈利能力的拖累突顯了與農業產量和市場定價相關的風險。該部門仍然是一個戰略增長向量，但需要仔細的成本和產量管理以恢復利潤強度。</p>
<h2>短期利潤壓縮預期</h2>
<p>Mission Produce 表示，短期內可能會持續面臨利潤壓力。管理層預計在 2026 財年第一季度將出現利潤壓縮，主要受當前採購環境和行業供應增加的驅動。高供應水平通常會對價格和利潤產生壓力，尤其是在鱷梨領域，投資者應為即使在銷量持續上升的情況下也可能出現一些盈利波動做好準備。</p>
<h2>前景和戰略指導</h2>
<p>展望 2026 財年，公司對行業增長和自身戰略定位保持樂觀。Mission Produce 預計鱷梨行業的產量將增加約 10%，這將支持持續的產量增長，儘管價格波動。資本支出預計將下降至約 4000 萬美元，從而加速自由現金流的生成並增強財務靈活性。領導層的過渡中，約翰·帕沃斯基（John Pawlowski）擔任首席執行官，史蒂夫·巴納德（Steve Barnard）轉任執行董事長，標誌着持續增長和國際擴張的延續。結合國際農業部門的強勁表現，這些計劃使公司能夠在 2025 年的勢頭上繼續發展。</p>
<p>總之，Mission Produce 的財報電話會議強調了公司在應對商品價格和利潤率挑戰時，通過嚴格執行實現創紀錄的收入和產量。國際增長、擴展農業業務和加強資產負債表成為關鍵積極因素，而較低的鱷梨價格和藍莓利潤壓力仍需關注。整體情緒自信且前瞻，管理層專注於利用其全球佈局和改善的現金生成能力，推動 2026 財年及以後的下一階段增長。</p>

<p>Mission Produce, Inc. (AVO) 在 2025 財年報告了創紀錄的收入 13.9 億美元和銷售 691 百萬磅鱷梨，儘管面臨價格壓力。國際市場，特別是英國和歐洲，推動了顯著增長。公司在國際農業業務方面也表現強勁，並擴展了藍莓和芒果業務。調整後的息税折舊攤銷前利潤（EBITDA）增長了 12%，達到 4140 萬美元，經營現金流達到了 8860 萬美元。然而，鱷梨價格下跌和藍莓業務的利潤壓力影響了第四季度的收入和盈利能力</p>

<p>Mission Produce, Inc. ((AVO)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Mission Produce, Inc. ((AVO)) 已召開其第四季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，放心投資</h3>
</div><ul>
<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
</div><p>Mission Produce’s latest earnings call painted a picture of solid momentum and disciplined execution, as the company delivered record revenue and volumes in fiscal 2025 while navigating pricing headwinds and margin pressure in certain segments. Management emphasized resilience in the face of lower avocado prices and blueberry margin challenges, underpinned by strong cash generation, reduced debt, and a leadership transition aimed at accelerating the next phase of international growth.</p>
<div class="lb-trans"><p>Mission Produce 最新的財報電話會議描繪了公司在 2025 財年實現創紀錄收入和銷量的良好勢頭和嚴謹執行，儘管在某些領域面臨價格壓力和利潤壓力。管理層強調了在鱷梨價格下跌和藍莓利潤挑戰面前的韌性，得益於強勁的現金生成、降低的債務以及旨在加速國際增長下一階段的領導層過渡。</p>
</div><h2>Record Revenue and Volume Growth</h2>
<div class="lb-trans"><h2>創紀錄的收入和銷量增長</h2>
</div><p>Mission Produce marked fiscal 2025 as a defining year, posting record revenue of $1.39 billion, up 13% from the prior year. The company also hit a record 691 million pounds of avocados sold, fueled by 7% volume growth. This combination of top-line expansion and volume gains underscores the company’s ability to grow its market presence even in a softer pricing environment, reinforcing its scale advantage in global avocado distribution.</p>
<div class="lb-trans"><p>Mission Produce 將 2025 財年視為一個決定性年份，創下了 13.9 億美元的收入，比去年增長了 13%。公司還創下了 6.91 億磅鱷梨的銷售記錄，銷量增長了 7%。這種收入擴張和銷量增長的結合凸顯了公司在價格環境較軟的情況下仍能擴大市場份額的能力，進一步鞏固了其在全球鱷梨分銷中的規模優勢。</p>
</div><h2>Surging International Market Performance</h2>
<div class="lb-trans"><h2>國際市場表現強勁</h2>
</div><p>International markets were a major growth engine in 2025. Revenue in the United Kingdom climbed by more than 60%, contributing to a 40% jump in European volumes overall. Stronger penetration across Europe and Asia helped diversify revenue sources and reduce reliance on any single geography. This international momentum highlights Mission Produce’s success in leveraging its global network and deepening relationships with retailers and foodservice partners abroad.</p>
<div class="lb-trans"><p>國際市場在 2025 年成為主要的增長引擎。英國的收入增長超過 60%，推動歐洲整體銷量增長 40%。在歐洲和亞洲的更強滲透幫助多樣化收入來源，減少對任何單一地區的依賴。這種國際勢頭突顯了 Mission Produce 在利用其全球網絡和深化與海外零售商及餐飲合作伙伴關係方面的成功。</p>
</div><h2>Strength in the International Farming Segment</h2>
<div class="lb-trans"><h2>國際農業部門的強勁表現</h2>
</div><p>The company’s international farming operations delivered standout results, particularly in Peru. Peruvian avocado production more than doubled year over year, with approximately 105 million pounds sold compared with 43 million pounds in the prior season. This scaling of owned farming assets supports more reliable supply, improves cost visibility, and provides a strategic hedge against volatility in third-party sourcing.</p>
<div class="lb-trans"><p>公司的國際農業業務表現突出，尤其是在秘魯。秘魯的鱷梨產量同比增長超過一倍，銷售約 1.05 億磅，而上個季節為 4300 萬磅。這種自有農業資產的擴展支持了更可靠的供應，提高了成本可見性，併為應對第三方採購的波動提供了戰略對沖。</p>
</div><h2>Blueberry and Mango Expansion</h2>
<div class="lb-trans"><h2>藍莓和芒果擴展</h2>
</div><p>Beyond avocados, Mission Produce continued to build out its diversified produce platform. Blueberry volumes increased on the back of expanded acreage in Peru, while the mango business gained share, with market share rising to 5.2%, up 150 basis points from last year. These gains demonstrate the company’s ability to leverage its infrastructure and customer relationships to grow complementary categories, even as they face their own margin dynamics.</p>
<div class="lb-trans"><p>除了鱷梨，Mission Produce 繼續擴展其多樣化的農產品平台。藍莓銷量因秘魯的種植面積擴大而增加，而芒果業務也獲得了市場份額，市場份額上升至 5.2%，比去年增加了 150 個基點。這些增長表明公司能夠利用其基礎設施和客户關係來發展互補類別，即使它們面臨自身的利潤動態。</p>
</div><h2>Improved Profitability Metrics</h2>
<div class="lb-trans"><h2>盈利能力指標改善</h2>
</div><p>Financial performance strengthened alongside revenue growth. Adjusted EBITDA rose 12% to a record $41.4 million, reflecting operational leverage and improved throughput. Adjusted net income climbed to $22.2 million, up from $19.6 million a year earlier. These metrics signal that Mission Produce is not only growing the top line but also converting more of that growth into earnings, an important signal for investors focused on profitability and cash returns.</p>
<div class="lb-trans"><p>隨着收入增長，財務表現也得到了加強。調整後的 EBITDA 增長 12%，達到創紀錄的 4140 萬美元，反映了運營槓桿和改善的產出。調整後的淨收入攀升至 2220 萬美元，高於去年同期的 1960 萬美元。這些指標表明 Mission Produce 不僅在擴大收入，還在將更多的增長轉化為盈利，這對關注盈利能力和現金回報的投資者來説是一個重要信號。</p>
</div><h2>Robust Cash Flow and Deleveraging</h2>
<div class="lb-trans"><h2>強勁的現金流和去槓桿化</h2>
</div><p>The balance sheet and cash profile improved meaningfully over the year. Mission Produce generated $88.6 million in operating cash flow, giving the company financial flexibility to invest and reduce leverage. Long-term debt was trimmed by $18 million, and interest expense fell by $3.2 million, indicating a lower financial burden. This deleveraging trend strengthens the company’s resilience and positions it to fund strategic initiatives without stretching the balance sheet.</p>
<div class="lb-trans"><p>資產負債表和現金狀況在一年中顯著改善。Mission Produce 產生了 8860 萬美元的經營現金流，為公司提供了投資和降低槓桿的財務靈活性。長期債務減少了 1800 萬美元，利息支出減少了 320 萬美元，表明財務負擔降低。這一去槓桿化趨勢增強了公司的韌性，使其能夠資助戰略舉措而不必過度拉伸資產負債表。</p>
</div><h2>Impact of Lower Avocado Pricing</h2>
<div class="lb-trans"><h2>鱷梨價格下跌的影響</h2>
</div><p>Not all metrics moved in the same direction. Fourth-quarter revenue came in at $319 million, down 10% year over year, primarily due to a 27% drop in average per-unit avocado sales prices. While volumes remained healthy, the pricing environment weighed on quarterly revenue. Management’s ability to offset some of this pressure through higher volume and operational discipline will be a key factor for investors monitoring earnings stability in a commodity-influenced category.</p>
<div class="lb-trans"><p>並非所有指標都朝同一方向發展。第四季度收入為 3.19 億美元，同比下降 10%，主要由於每單位鱷梨銷售價格下降 27%。儘管銷量保持健康，但價格環境對季度收入造成了壓力。管理層通過提高銷量和運營紀律來抵消部分壓力的能力，將是投資者關注商品影響類別盈利穩定性的關鍵因素。</p>
</div><h2>Margin Pressure in the Blueberry Segment</h2>
<div class="lb-trans"><h2>藍莓部門的利潤壓力</h2>
</div><p>The company’s blueberry segment faced notable margin headwinds. Segment adjusted EBITDA declined to $4.7 million from $8.6 million, pressured by lower per-unit margins and expected lower yield per hectare. While blueberry volumes rose, the profitability drag highlights the risks tied to agricultural yields and market pricing. The segment remains a strategic growth vector but will require careful cost and yield management to restore margin strength.</p>
<div class="lb-trans"><p>公司的藍莓部門面臨顯著的利潤壓力。該部門的調整後 EBITDA 從 860 萬美元下降至 470 萬美元，受到每單位利潤下降和每公頃預期產量降低的壓力。儘管藍莓銷量上升，但盈利能力的拖累突顯了與農業產量和市場定價相關的風險。該部門仍然是一個戰略增長向量，但需要仔細的成本和產量管理以恢復利潤強度。</p>
</div><h2>Near-Term Margin Compression Expectations</h2>
<div class="lb-trans"><h2>短期利潤壓縮預期</h2>
</div><p>Mission Produce signaled that margin pressure may persist in the near term. Management anticipates margin compression in the first quarter of fiscal 2026, driven by the current sourcing environment and higher industry supply. Elevated supply levels typically weigh on pricing and margins, particularly in avocados, and investors should be prepared for some earnings volatility even as volumes continue to trend upward.</p>
<div class="lb-trans"><p>Mission Produce 表示，短期內可能會持續面臨利潤壓力。管理層預計在 2026 財年第一季度將出現利潤壓縮，主要受當前採購環境和行業供應增加的驅動。高供應水平通常會對價格和利潤產生壓力，尤其是在鱷梨領域，投資者應為即使在銷量持續上升的情況下也可能出現一些盈利波動做好準備。</p>
</div><h2>Outlook and Strategic Guidance</h2>
<div class="lb-trans"><h2>前景和戰略指導</h2>
</div><p>Looking ahead to fiscal 2026, the company remains optimistic about industry growth and its own strategic positioning. Mission Produce expects approximately a 10% increase in avocado industry volumes, which should support continued volume growth despite price fluctuations. Capital expenditures are projected to decline to about $40 million, enabling accelerated free cash flow generation and greater financial flexibility. The leadership transition, with John Pawlowski assuming the CEO role and Steve Barnard moving to Executive Chairman, signals continuity with an emphasis on sustained growth and international expansion. Combined with the strong performance of the international farming segment, these plans position the company to build on its 2025 momentum.</p>
<div class="lb-trans"><p>展望 2026 財年，公司對行業增長和自身戰略定位保持樂觀。Mission Produce 預計鱷梨行業的產量將增加約 10%，這將支持持續的產量增長，儘管價格波動。資本支出預計將下降至約 4000 萬美元，從而加速自由現金流的生成並增強財務靈活性。領導層的過渡中，約翰·帕沃斯基（John Pawlowski）擔任首席執行官，史蒂夫·巴納德（Steve Barnard）轉任執行董事長，標誌着持續增長和國際擴張的延續。結合國際農業部門的強勁表現，這些計劃使公司能夠在 2025 年的勢頭上繼續發展。</p>
</div><p>In summary, Mission Produce’s earnings call highlighted a company delivering record revenue and volumes while managing through commodity price and margin challenges with disciplined execution. International growth, expanding farming operations, and balance-sheet strengthening stood out as key positives, while lower avocado prices and blueberry margin pressure remain watch points. Overall sentiment was confident and forward-leaning, with management focused on leveraging its global footprint and improved cash generation to drive the next leg of growth in fiscal 2026 and beyond.</p>
<div class="lb-trans"><p>總之，Mission Produce 的財報電話會議強調了公司在應對商品價格和利潤率挑戰時，通過嚴格執行實現創紀錄的收入和產量。國際增長、擴展農業業務和加強資產負債表成為關鍵積極因素，而較低的鱷梨價格和藍莓利潤壓力仍需關注。整體情緒自信且前瞻，管理層專注於利用其全球佈局和改善的現金生成能力，推動 2026 財年及以後的下一階段增長。</p>
</div>

Mission Produce 在價格阻力的情況下實現了創紀錄的一年