Mission Produce, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2021
June 10, 2021 at 04:05 pm EDT
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Mission Produce, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2021. For the quarter, the company's total net sales were $234.7 million compared to $221.6 million a year ago. Operating income was $10.8 million against $10.4 million a year ago. Income before income taxes was $9.5 million compared with loss was $11.3 million a year ago. Net income was $7.4 million compared with net loss was $14.8 million a year ago. Basic and diluted earnings per share were $0.10 compared with loss per share were $0.23 a year ago.
For the six months, the company's total net sales were $407.9 million compared to $419.1 million a year ago. Operating income was $18.9 million against $15.0 million a year ago. Income before income taxes was $19.0 million compared with loss was $9.2 million a year ago. Net income was $9.6 million compared with net loss was $13.4 million a year ago. Basic and diluted earnings per share were $0.14 compared with loss per share were $0.21 a year ago.
Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.
MISSION PRODUCE, INC. 
