Mission Produce, Inc.

John Pawlowski, President and Chief Operating Officer, and Brian Giles, Chief Financial Officer. The comments during today's call and the accompanying presentation contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are considered forward-looking statements. These statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some of these risks and uncertainties are identified and discussed in the company's filings with the SEC. We'll also refer to certain non-GAAP financial measures today. Please refer to the tables included in the earnings release, which can be found on our investor relations website, investors.missionproduce.com. for reconciliations of non-gap financial measures to their most directly comparable gap measures. And with that, I'd now like to turn the call over to Steve Barnert, CEO. Steve?

Thank you, Jeff. I'd like to start with pointing out that our third quarter results really demonstrate what we've been building here at Mission, specifically the ability to consistently deliver strong performance no matter what the market throws at us. We delivered record third quarter revenue of $357 million, up 10%, with strong execution across our business, showcasing the value of our vertical integration to drive category consistency globally and ultimately support growth of our per capita consumption. What stands out to me this quarter is our commercial team's exceptional execution in moving fruit globally, being in the right place, the right time, with the right price for our customers. The international positioning and capabilities we've built over the past few decades, combined with strategic investments we've made more recently, enabled us to deliver what we think were great results for this quarter. With that context, I'll turn it over to John Pawlowski, our president and COO, to walk you through the operational and commercial highlights of the quarter. John?

Thanks, Steve. Before I dive into the operational highlights, I wanted to briefly share my perspective as someone who joined Mission in April of last year after spending over 25 years in the international food industry. Having led global operations at companies like J.M. Smucker and LaPerry Foods, I came in with high expectations. But what I've experienced over the past year and a half here has been genuinely impressive. The level of operational sophistication and international reach here at Mission is remarkable, and this quarter really showcased why that matters. Now let me walk you through what made this quarter successful from an operational and commercial perspective. Our marketing and distribution segment delivered outstanding results, generating $344.1 million in sales and demonstrates the power of our global sourcing and commercial execution capabilities when coupled with our vertically integrated international farming business. We achieved a 10% increase in avocado volume sold while average per unit prices decreased only 5%, demonstrating our ability to maintain pricing discipline even as we moved significantly more volume through our system. And we were pleased that our per unit margins were solidly within our historical averages as we comped against last year's exceptional performance where our per unit margins exceeded norms. I believe what really sets Mission apart is our ability to execute on a truly global stage. I'd emphasize Steve's comment around being in the right place at the right time with the right price and product for our customers. That's not by accident. It's the result of decades of strategic investments in building year-round avocado sourcing capabilities, establishing strong commercial teams, and utilizing differentiated category management tools to elevate our customers' programs. In the third quarter, this global sourcing strategy was on full display. With strong Peruvian production and improved Mexican supply this year, which contrasts with the industry conditions we experienced last year, we were able to optimize our sourcing mix across multiple countries of origin, which is a core competency that differentiates mission in the marketplace and creates a recipe for greater financial consistency as well. Further, our visibility to more normal levels of Peruvian production enabled our teams to execute the most proactive programming we've ever undertaken. We made investments, reallocated resources, and completed more advanced contracting than we have over the past few years, securing favorable positioning with retail customers who are excited about the consistency that we are uniquely able to provide with our own production and deliver the value and service they've come to expect from Mission. Higher levels of production also affords us opportunities to target strategic growth markets and support investments we've made internationally in areas such as Europe and Asia with greater impact. European sales increased 37% in the third quarter versus prior year, reflecting our improved ability to serve the broader European markets as our UK facility gains momentum through enhanced customer penetration and improved facility utilization. In Asia, we've been able to broaden our reach with new customers following some select investments we made to service demand in the region that we are uniquely able to address through the access to our Peruvian fruit. Looking ahead to the fiscal fourth quarter, we remain focused on balancing the completion of our Peruvian season with the onset of the Mexican season. In preparation for the transition to Mexico-centric sourcing and in response to the operational disruption we experienced during last year's harvest season, We've made some enhancements to one of our Mexican pack houses that we expect to improve our capacity during peak season. This will allow us to not only pack more of our own product, but create system efficiencies through our distribution network as a result of more streamlined handling en route to the end customer. We expect these enhancements to be in place during this upcoming Mexican harvest as an example of the things our team looks at on a recurring basis to both help drive margin and service improvements over the long term. Beyond avocados, our diversification strategy continues to deliver results. We're utilizing the same playbook and capabilities that we've developed in avocados to continue building market share in adjacent categories such as mangoes. We are in a great position to help further establish the category here in North America with retail customers through strategic pricing commitments, greater supply consistency, and different packaging configurations that we believe are necessary for long-term category growth. We are establishing mission as a reliable, year-round program provider with operational capabilities that others in this space simply cannot match. In blueberries, we continue to see benefits from our expanded acreage, which is expected to eclipse 700 hectares of production, along with the yield improvements that will follow. As we enter the peak of our blueberry harvest in the fourth and first quarters, we expect meaningful volume increases as we move through the season. In summary, we are thrilled with the performance of our entire team. the combination of our marketing and distribution commercial execution, along with the recovery of volume from our international farming, and on top of that, the growth stemming from our diversification initiatives demonstrates the strength, durability, and opportunity provided by our global platform. With that, I'll turn it over to Brian for the financial details.