Mission Produce Inc
For the period ended Jul 31, 2024. Filed Sep 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 31, 2024 · Filed Sep 9, 2024
AVO$11.85-0.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED)
| Nine Months EndedJuly 31, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Operating Activities | ||
| Net income (loss) | $21.1 | $(9.1) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| (Recovery) provision for losses on accounts receivable | (0.1) | 0.1 |
| Depreciation and amortization | 27.5 | 22.8 |
| Amortization of debt issuance costs | 0.2 | 0.2 |
| Equity method income | (2.6) | (3.2) |
| Noncash lease expense | 4.6 | 4.4 |
| Stock-based compensation | 4.5 | 3.2 |
| Dividends received from equity method investees | 3.2 | 2.7 |
| Losses on asset impairment, disposals and sales, net of insurance recoveries | 3.8 | 1.2 |
| Deferred income taxes | (1.3) | (1.2) |
| Unrealized (gain) loss on foreign currency transactions | (0.6) | 2.9 |
| Unrealized loss (gain) on derivative financial instruments | 0.1 | (0.1) |
| Effect on cash of changes in operating assets and liabilities: | ||
| Trade accounts receivable | (26.5) | (23.8) |
| Grower fruit advances | (0.7) | (0.7) |
| Other receivables | (1.4) | (1.4) |
| Inventory | (10.6) | (13.1) |
| Prepaid expenses and other current assets | 0.8 | 2.5 |
| Income taxes receivable | (2.6) | (4.3) |
| Other assets | 0.5 | 2.3 |
| Accounts payable and accrued expenses | 10.6 | 5.7 |
| Income taxes payable | 2.4 | (0.5) |
| Grower payables | 28.6 | 4.2 |
| Operating lease liabilities | (4.7) | (2.8) |
| Other long-term liabilities | (1.4) | 0.7 |
| Net cash provided by (used in) operating activities | $55.4 | $(7.3) |
| Investing Activities | ||
| Purchases of property, plant and equipment | (25.3) | (47.0) |
| Proceeds from sale of property, plant and equipment | 0.1 | 0.1 |
| Investment in equity method investees | (0.6) | (1.4) |
| Purchase of other investment | — | (2.3) |
| Other | (0.2) | (0.1) |
| Net cash used in investing activities | $(26.0) | $(50.7) |
| Financing Activities | ||
| Borrowings on revolving credit facility | 40.0 | 145.0 |
| Payments on revolving credit facility | (55.0) | (115.0) |
| Proceeds from short-term borrowings | 3.0 | 2.8 |
| Repayment of short-term borrowings | (2.8) | (2.5) |
| Principal payments on long-term debt obligations | (2.7) | (2.7) |
| Principal payments on finance lease obligations | (1.6) | (2.4) |
| Payments for long-term supplier financing | (0.5) | — |
| Payments to noncontrolling interest holder for long-term supply financing | (2.0) | — |
| Principal payments on loans due to noncontrolling interest holder | (0.5) | — |
| Payments of minimum withholding taxes on net share settlement of equity awards | (0.8) | (0.4) |
| Exercise of stock options | — | 0.1 |
| Proceeds from loan from noncontrolling interest holder | — | 2.0 |
| Equity contributions from noncontrolling interest holders | — | 2.2 |
| Net cash (used in) provided by financing activities | $(22.9) | $29.1 |
| Effect of exchange rate changes on cash | 0.2 | 0.1 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 6.7 | (28.8) |
| Cash, cash equivalents and restricted cash, beginning of period | 43.2 | 53.9 |
| Cash, cash equivalents and restricted cash, end of period | $49.9 | $25.1 |
| Nine Months EndedJuly 31, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Summary of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets: | ||
| Cash and cash equivalents | $49.5 | $23.0 |
| Restricted cash | 0.4 | 2.1 |
| Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows | $49.9 | $25.1 |
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