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: Mark Smith - Lake Street Capital Markets LLC - Analyst
: First question for me. I just was curious about your outlook for mangos. You've had fantastic growth here the last several years. Kind of
curious where we are in that cycle? And any insights you can give us into potential growth here this next fiscal year?
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DECEMBER 18, 2025 / 10:00PM, AVO.OQ - Q4 2025 Mission Produce Inc Earnings Call
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: Excellent. And then I wanted to ask about the cash flow story. Obviously, really attractive here, especially as you guys reach the end of kind
of an investment cycle. I'm curious to the biggest risks in kind of accomplishing this free cash flow growth.
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: Okay. And as we think about capital allocation with lower CapEx may be invested this year, leverage now under 1 times. How should we
think about use of cash kind of going forward? And are there other places from buybacks or anything else where you guys may put cash
to work?
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: Okay. And the last one for me, if I can squeeze one more in here. It's just with the changes in management coming up and congratulations,
John, by the way, on the move here. Should we look for any changes in strategy? Because it sounds like it's really just kind of steady as
she goes.
Question: Pooran Sharma - Stephens - Analyst
: Thanks for the question and congrats on the strong quarter and then also congrats on the leadership transition here. Maybe just wanted to
start off with CapEx. You kind of just talked about it. You mentioned we can still make growth CapEx in that $40 million for next year. Are
you able to give us a sense as to how much of that $40 million could potentially be growth CapEx?
Question: Pooran Sharma - Stephens - Analyst
: Okay. Thank you. I appreciate that color there. And maybe just wanted to ask about -- I mean, you mentioned key areas of growth. It looks
like you were able to reach Europe and Asia this quarter. I did want to ask you now that your core infrastructure is built out, including the
UK packing house, Laredo, and some other investments that you have, including Guatemala, where do you see the most upside from
growing into your footprint?
Are there specific regions or facilities that you'd like to call out? I know you did mention Europe and Asia, but was just seeing if we could
get a little bit more granularity here.
Question: Pooran Sharma - Stephens - Analyst
: Great. I appreciate that color, John. And maybe if I could just ask about the -- just the household penetration goals. I think in the past, you've
mentioned that avocados are maybe closer to 70% and that you wanted to target penetration of maybe other mature fruits that approach
about 80% to 90%.
Given we're kind of entering a lower pricing environment, how long do you think it takes to get to that level of the other more mature fruits?
And then how are those being in a lower pricing environment help accelerate that process?
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DECEMBER 18, 2025 / 10:00PM, AVO.OQ - Q4 2025 Mission Produce Inc Earnings Call
Question: Pooran Sharma - Stephens - Analyst
: No, that's very helpful. I appreciate the color there. Congrats on the quarter. Again, Steve, congrats on moving to Chairman of the Board
and John, congrats on the move as well, looking forward to working with you.
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