Mission Produce, Inc.AVO
Mission Produce, Inc. Segments Disclosure
Segment and Revenue Information
Our reportable segments are determined based on how information is used by our CEO, who is the chief operating decision maker, to measure performance and allocate resources. The CEO assesses segment performance by each segment’s operating income (loss), before intersegment eliminations. The CEO uses operating income (loss) in the annual budgeting process. He also considers budget-to-actual variances when making decisions about the allocation of operating and capital resources to each segment.
We have three operating segments which are also reportable segments:
•Marketing & Distribution. Our Marketing & Distribution reportable segment sources fruit from growers and then distributes the fruit through our global distribution network.
•International Farming. International Farming owns and operates orchards from which the vast majority of fruit produced is sold to our Marketing & Distribution segment. The segment’s farming activities range from cultivating early-stage plantings to harvesting from mature trees. It also earns service revenues for packing and processing fruit for both our Blueberries segment, as well as for third-party producers of other crops. Operations are principally located in Peru and Guatemala.
•Blueberries. The Blueberries segment consists of farming activities that include cultivating early-stage blueberry plantings and harvesting mature bushes. Substantially all blueberries produced are sold to a single distributor under an exclusive marketing agreement.
The following table provides information for each of our reportable segments and reconciliations to consolidated income (loss) before taxes.
| (In millions) | Marketing & Distribution | International Farming | Blueberries | Total | |||||||||||||||||||
Year ended October 31, 2025: | |||||||||||||||||||||||
Third-party sales | $ | 1,274.3 | $ | 23.8 | $ | 93.1 | $ | 1,391.2 | |||||||||||||||
| Affiliated sales | — | 102.1 | — | 102.1 | |||||||||||||||||||
| 1,274.3 | 125.9 | 93.1 | 1,493.3 | ||||||||||||||||||||
Reconciliation of revenue | |||||||||||||||||||||||
Elimination of affiliated sales | (102.1) | ||||||||||||||||||||||
Total consolidated sales | 1,391.2 | ||||||||||||||||||||||
Less: | |||||||||||||||||||||||
Segment cost of sales(1) | 1,151.9 | 104.9 | 73.6 | ||||||||||||||||||||
Segment selling, general and administrative expenses(2) | 78.2 | 12.9 | 6.4 | ||||||||||||||||||||
Segment operating income (loss) | 44.2 | 8.1 | 13.1 | 65.4 | |||||||||||||||||||
Interest expense | (9.4) | ||||||||||||||||||||||
Equity method income | 5.4 | ||||||||||||||||||||||
Other income, net | 0.7 | ||||||||||||||||||||||
Elimination of intersegment profit | (0.2) | ||||||||||||||||||||||
Income before income taxes | $ | 61.9 | |||||||||||||||||||||
Year ended October 31, 2024: | |||||||||||||||||||||||
Third-party sales | $ | 1,152.6 | $ | 6.4 | $ | 75.7 | $ | 1,234.7 | |||||||||||||||
| Affiliated sales | — | 58.5 | — | 58.5 | |||||||||||||||||||
| 1,152.6 | 64.9 | 75.7 | 1,293.2 | ||||||||||||||||||||
Reconciliation of revenue | |||||||||||||||||||||||
Elimination of affiliated sales | (58.5) | ||||||||||||||||||||||
Total consolidated sales | $ | 1,234.7 | |||||||||||||||||||||
Less: | |||||||||||||||||||||||
Segment cost of sales(1) | 1,018.9 | 68.4 | 50.1 | ||||||||||||||||||||
Segment selling, general and administrative expenses(2) | 72.5 | 9.8 | 7.0 | ||||||||||||||||||||
Segment operating income (loss) | 61.2 | (13.3) | 18.6 | 66.5 | |||||||||||||||||||
Interest expense | (12.6) | ||||||||||||||||||||||
Equity method income | 3.7 | ||||||||||||||||||||||
| (In millions) | Marketing & Distribution | International Farming | Blueberries | Total | |||||||||||||||||||
Other income, net | 3.6 | ||||||||||||||||||||||
Elimination of intersegment profit | (0.8) | ||||||||||||||||||||||
Income before income taxes | $ | 60.4 | |||||||||||||||||||||
Year ended October 31, 2023: | |||||||||||||||||||||||
Third-party sales | $ | 889.9 | $ | 11.6 | $ | 52.4 | $ | 953.9 | |||||||||||||||
| Affiliated sales | — | 78.6 | — | 78.6 | |||||||||||||||||||
| 889.9 | 90.2 | 52.4 | 1,032.5 | ||||||||||||||||||||
Reconciliation of revenue | |||||||||||||||||||||||
Elimination of affiliated sales | (78.6) | ||||||||||||||||||||||
Total consolidated sales | $ | 953.9 | |||||||||||||||||||||
Less: | |||||||||||||||||||||||
Segment cost of sales(1) | 811.5 | 89.9 | 46.6 | ||||||||||||||||||||
Segment selling, general and administrative expenses(2) | 61.1 | 11.8 | 4.8 | ||||||||||||||||||||
Segment operating income (loss) | 17.3 | (11.5) | 1.0 | 6.8 | |||||||||||||||||||
Interest expense | (11.6) | ||||||||||||||||||||||
Equity method income | 4.0 | ||||||||||||||||||||||
Other expense, net | (0.2) | ||||||||||||||||||||||
Elimination of intersegment loss | 0.1 | ||||||||||||||||||||||
Loss before income taxes | $ | (0.9) | |||||||||||||||||||||
(1)Segment cost of sales for each reportable segment included:
•Marketing & Distribution—fruit costs, employee-related expenses, freight, packaging costs, depreciation, and other costs.
•International Farming and Blueberries—employee-related expenses, farming costs, packaging costs, depreciation and other costs.
(2)Segment selling, general and administrative expenses for each reportable segment included employee-related expenses including performance-based stock compensation expense and statutory profit-sharing expense, professional fees, and other general corporate expenses.
| Years ended October 31, | |||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||||||||
Depreciation and amortization expense by segment: | |||||||||||||||||
| Marketing & Distribution | $ | 15.2 | $ | 14.5 | $ | 15.1 | |||||||||||
| International Farming | 12.8 | 11.9 | 11.3 | ||||||||||||||
Blueberries | 6.6 | 11.3 | 6.4 | ||||||||||||||
Total | 34.6 | 37.7 | 32.8 | ||||||||||||||
| Purchases of property, plant and equipment by segment: | |||||||||||||||||
| Marketing & Distribution | $ | 6.4 | $ | 7.1 | $ | 10.9 | |||||||||||
| International Farming | 32.5 | 16.1 | 26.0 | ||||||||||||||
Blueberries | 12.5 | 9.0 | 12.9 | ||||||||||||||
Total | $ | 51.4 | $ | 32.2 | $ | 49.8 | |||||||||||
Supplemental sales information is as follows:
| Years Ended October 31, | |||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||||||||
| By type | |||||||||||||||||
| Avocado | $ | 1,195.7 | $ | 1,092.2 | $ | 851.1 | |||||||||||
Blueberry | 93.1 | 75.7 | 52.4 | ||||||||||||||
| Mango | 86.2 | 55.7 | 37.3 | ||||||||||||||
| Other | 16.2 | 11.1 | 13.1 | ||||||||||||||
| Total net sales | 1,391.2 | 1,234.7 | 953.9 | ||||||||||||||
| By customer location | |||||||||||||||||
| United States | $ | 1,089.9 | $ | 1,022.7 | $ | 760.5 | |||||||||||
| Rest of world | 301.3 | 212.0 | 193.4 | ||||||||||||||
| Total net sales | $ | 1,391.2 | $ | 1,234.7 | $ | 953.9 | |||||||||||
Property, plant and equipment, net by geographic location was as follows:
| October 31, | |||||||||||
| (In millions) | 2025 | 2024 | |||||||||
| Peru | $ | 324.2 | $ | 321.4 | |||||||
United States | 109.3 | 116.4 | |||||||||
Guatemala | 76.7 | 51.8 | |||||||||
Mexico | 16.5 | 14.9 | |||||||||
| Europe | 15.5 | 15.9 | |||||||||
Canada | — | 3.0 | |||||||||
| Property, plant and equipment, net | $ | 542.2 | $ | 523.4 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 18, 2025 | Showing above |
| 2024 | Dec 19, 2024 | |
| 2023 | Dec 21, 2023 | |
| 2022 | Dec 22, 2022 | |
| 2021 | Dec 22, 2021 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.