Filing Flows › Mission Produce (AVO) › Q4 FY24
Mission Produce (AVO) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 19, 2024
Mission Produce (AVO) reported revenue of $354M for the fourth quarter fiscal 2024 (Q4 FY24), +37% from a year earlier and +9% from the quarter before. Operating margin was 8.1%, net earnings $17.3M (4.9% of revenue).
Mission Produce, Q4 FY24: revenue $354M (+37% year over year), operating margin 8.1%, net earnings $17.3M, operating cash flow $38.0M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $354M | +9% | +37% |
| Gross profit | $55.8M | +51% | +101% |
| Operating profit | $28.6M | +70% | +297% |
| Net earnings | $17.3M | +40% | +332% |
| Operating cash flow | $38.0M | -11% | +4% |
| Free cash flow | $31.1M | -11% | -8% |
What changed
Revenue was $354.4M in Q4 FY24, up 37% year over year and up 9% from the previous quarter. Avocado was the largest line at 86% of revenue.
Gross margin was 15.7%, up 5.0 points from a year earlier. Operating profit was $28.6M, a 8.1% margin (up 5.3 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, above the 3% margin then. Operating expenses grew 32% against revenue growth of 37%. Net earnings were $17.3M, up 332% year over year. The effective tax rate was 29.4%.
Operating cash flow was $38.0M (up 4% year over year), 184% of net income including minority interests. Non-cash charges added back $10.2M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $4.5M. Capital expenditures of $6.9M left free cash flow of $31.1M.
Questions
What was Mission Produce's revenue in the fourth quarter fiscal 2024?
Mission Produce (AVO) reported revenue of $354M for the fourth quarter fiscal 2024 (Q4 FY24), +37% from a year earlier and +9% from the quarter before.
Was Mission Produce profitable in the fourth quarter fiscal 2024?
Operating profit was $28.6M (8.1% of revenue) and net earnings $17.3M.
Source: Mission Produce 10-K on SEC EDGAR.