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
: All right. Thanks for taking my questions and congratulations on a really excellent quarter from top to bottom here. First question, a couple of
related to your upcoming Peruvian harvest in the avocado side, I'm wondering if the volume that you talked about today seems like a real reiteration
of your expectations from three months ago.
But I'm wondering if you can comment on how, if at all your expectations from Peru have evolved over the last three months as harvest is approaching?
And then also can comment on fruit size and quality of that crop? Because I'm just curious, the extent to which that -- what harvest is able to be
taken, we can be able to get this really strong market pricing.
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: I hear you loud and clear. Okay, that's helpful. And I thought there are still some fruit, at least, but on the trees down there. So thanks for clarifying
all those points.
Shifting north to California, you talked about kind of how strong that harvest is, but also that you had record share. I'm wondering if you can
elaborate a bit on what drove the share increase and any comments you guys can make from a quantitative perspective about how much your
share increased overall level of share? Anything of that nature would be helpful.
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: Sure, you did. Very good. I appreciate that from all of you. One last question on the balance sheet, cash flow side. The cash was really exceptional.
We knew that was move in the right direction, but certainly faster than -- the improvement was more material. I think that then I certainly was
expecting. Just great to see.
And I'm wondering, given the momentum here and how strong your balance sheet is today, how your thought process is evolving, if at all towards
future capital allocation? Are you looking to maybe further accelerate capital investments and to have more flexibility now? Any maybe accelerated
M&A? Anything -- has anything changed given how strong your performance has been or is it your thought process of launching.
Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst
: Got it. Very helpful. Well, congratulations again on a great quarter and thanks for taking my questions and I'll get back in line.
Question: Gerry Sweeney - ROTH Capital Partners - Analyst
: Good afternoon, Steve and Brian, and welcome aboard, John. I have one question, but it's actually a couple of different parts. So looking at margins,
obviously, we had some cost savings initiatives. I think last year, you highlighted you've sort of gone -- you're in growth mode for a bunch of years.
And there is some opportunity to fine-tune operations.
As we look at this year, margins up part of it price, part of it sounds like cost savings initiatives, but just curious if you could give us a little bit longer
term view on, are there more options out there or things that you can still continue to fine-tune? How do we look at that on a go-forward basis?
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SEPTEMBER 09, 2024 / 9:30PM, AVO.OQ - Q3 2024 Mission Produce Inc Earnings Call
Question: Gerry Sweeney - ROTH Capital Partners - Analyst
: Well, guys. I appreciate it, and congrats on a good quarter.
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