The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: First, in the quarter itself, I'm wondering if you can help us a bit and elaborate on this dynamic where you had source from co-packers. Can you
quantify kind of the degree to which you had to do this in the current quarter relative to normalized levels? And then have conditions approved
quarter to date such that you're able to secure inventory more directly? Or has the condition kind of sustained so far over the last six weeks?
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: Okay, very good. Appreciate that from both of you.
Regarding the working capital build, Bryan, you talked about the reasons for this in the first quarter. And I'm wondering the degree to which you
have visibility of this unwinding in the second quarter or beyond, taking cash off the balance sheet, given the bill up in the first quarter.
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: Okay, very good. One more for me and then I'll go back to queue. Around tariffs, I mean, obviously nobody knows. I'm not asking you guys to make
any predictions here.
What I'm curious about is the degree to which you've observed kind of supplier behavior changing at all as this has become a variable, particularly
kind of in the weeks leading up to the February 1 deadline when the initial 25% tariffs were theoretically going to be implemented. Did you see
any kind of changing behavior in like January before that date or in late February here before, the early March threat re-emerged?
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: Got it, very good. Well, best luck to everybody navigating this environment. Thanks for taking my questions and I'll get back in queue.
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MARCH 10, 2025 / 9:00PM, AVO.OQ - Q1 2025 Mission Produce Inc Earnings Call
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