Mission Produce Inc
For the period ended Jan 31, 2025. Filed Mar 10, 2025.
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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.
Jan 31, 2025 · Filed Mar 10, 2025
AVO$11.85-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED)
| Three Months EndedJanuary 31, | ||
|---|---|---|
| (In millions) | 2025 | 2024 |
| Operating Activities | ||
| Net income | $6.2 | $2.0 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 8.7 | 12.9 |
| Amortization of debt issuance costs | 0.1 | 0.1 |
| Equity method income | (0.8) | (0.4) |
| Noncash lease expense | 1.8 | 1.5 |
| Stock-based compensation | 2.0 | 1.4 |
| Dividends received from equity method investees | — | 3.2 |
| Losses on asset impairment, disposals and sales | 0.1 | 0.2 |
| Deferred income taxes | — | (0.8) |
| Unrealized gain on derivative financial instruments | (0.1) | — |
| Other | (0.6) | 0.9 |
| Effect on cash of changes in operating assets and liabilities: | ||
| Trade accounts receivable | (5.0) | (10.9) |
| Grower fruit advances | (2.0) | (0.5) |
| Other receivables | (1.6) | (0.7) |
| Inventory | (31.5) | (14.8) |
| Prepaid expenses and other current assets | (0.3) | — |
| Income taxes receivable | 4.4 | 0.3 |
| Other assets | (4.0) | 0.1 |
| Accounts payable and accrued expenses | 18.5 | 4.6 |
| Income taxes payable | (4.8) | 1.2 |
| Grower payables | 10.4 | 10.1 |
| Operating lease liabilities | (0.9) | (0.9) |
| Other long-term liabilities | (1.8) | — |
| Net cash (used in) provided by operating activities | $(1.2) | $9.5 |
| Investing Activities | ||
| Purchases of property, plant and equipment | (14.8) | (9.9) |
| Other | (0.1) | — |
| Net cash used in investing activities | $(14.9) | $(9.9) |
| Financing Activities | ||
| Borrowings on revolving credit facility | 15.0 | 15.0 |
| Payments on revolving credit facility | (10.0) | (10.0) |
| Repayment of short-term borrowings | (3.5) | (2.8) |
| Principal payments on long-term debt obligations | (0.8) | (0.9) |
| Principal payments on finance lease obligations | (0.1) | (2.3) |
| Payments for long-term supplier financing | (0.3) | (0.3) |
| Principal payments on loans due to noncontrolling interest holder | — | (0.5) |
| Payments of minimum withholding taxes on net share settlement of equity awards | (1.3) | (0.7) |
| Exercise of stock options | 0.3 | — |
| Purchase and retirement of common stock | (0.3) | — |
| Net cash used in financing activities | $(1.0) | $(2.5) |
| Effect of exchange rate changes on cash | — | 0.2 |
| Net decrease in cash, cash equivalents and restricted cash | (17.1) | (2.7) |
| Cash, cash equivalents and restricted cash, beginning of period | 59.3 | 43.2 |
| Cash, cash equivalents and restricted cash, end of period | $42.2 | $40.5 |
| Three Months EndedJanuary 31, | ||
|---|---|---|
| (In millions) | 2025 | 2024 |
| Summary of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets: | ||
| Cash and cash equivalents | $40.1 | $39.9 |
| Restricted cash | 2.1 | 0.6 |
| Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows | $42.2 | $40.5 |
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