Mission Produce (AVO) 10-Q 9 Sep 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jul. 31, 2024	Sep. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2024
Document Transition Report	false
Entity File Number	001-39561
Entity Registrant Name	MISSION PRODUCE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3847744
Entity Address, Address Line One	2710 Camino Del Sol
Entity Address, City or Town	Oxnard
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93030
City Area Code	805
Local Phone Number	981-3650
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AVO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		70,910,610
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001802974
Current Fiscal Year End Date	--10-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Current Assets:
Cash and cash equivalents	$ 49.5	$ 42.9
Restricted cash	0.4	0.3
Accounts receivable
Trade, net of allowances of $0.7 and $0.9, respectively	101.5	74.1
Grower and fruit advances	1.6	0.9
Other	13.8	12.4
Inventory	83.8	70.8
Prepaid expenses and other current assets	8.3	9.1
Income taxes receivable	12.2	9.6
Total current assets	271.1	220.1
Property, plant and equipment, net	520.5	523.2
Operating lease right-of-use assets	69.1	72.4
Equity method investees	31	31
Deferred income tax assets, net	9	8.5
Goodwill	39.4	39.4
Intangible asset, net	0	0.5
Other assets	19.8	19.7
Total assets	959.9	914.8
Liabilities
Accounts payable	29.7	27.2
Accrued expenses	28.9	26.4
Income taxes payable	5.1	1.6
Grower payables	55.3	26.4
Short-term borrowings	3	2.8
Notes payable	0.5	0
Loans from noncontrolling interest holders—current portion	0.2	0.5
Long-term debt—current portion	3	3.4
Operating leases—current portion	5.8	6.6
Finance leases—current portion	2.4	2.6
Total current liabilities	133.9	97.5
Long-term debt, net of current portion	131.4	148.6
Loans from noncontrolling interest holders, net of current portion	1.8	2.5
Operating leases, net of current portion	68.4	71
Finance leases, net of current portion	21.4	14.7
Income taxes payable	1.3	2.3
Deferred income tax liabilities, net	22.7	23.5
Other long-term liabilities	25.3	26.4
Total liabilities	406.2	386.5
Commitments and contingencies (Note 7)
Shareholders’ Equity
Common stock ($0.001 par value, 1,000,000,000 shares authorized; 70,909,730 and 70,728,404 shares issued and outstanding as of July 31, 2024 and October 31, 2023, respectively)	0.1	0.1
Additional paid-in capital	237.1	233.4
Accumulated other comprehensive loss	(0.3)	(0.9)
Retained earnings	290.4	271
Mission Produce shareholders' equity	527.3	503.6
Noncontrolling interest	26.4	24.7
Total equity	553.7	528.3
Total liabilities and equity	$ 959.9	$ 914.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Trade, net of allowances	$ 0.7	$ 0.9
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	70,909,730	70,728,404
Common stock, outstanding (in shares)	70,909,730	70,728,404

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Income Statement [Abstract]
Net sales	$ 324	$ 261.4	$ 880.3	$ 696
Cost of sales	287	233	783.6	640.5
Gross profit	37	28.4	96.7	55.5
Selling, general and administrative expenses	20.2	17.4	59.6	55.8
Operating income (loss)	16.8	11	37.1	(0.3)
Interest expense	(3.2)	(3.2)	(9.9)	(8.3)
Equity method income	1.7	1.8	2.6	3.2
Other income (expense), net	1.3	(1.1)	1.3	(1.3)
Income (loss) before income taxes	16.6	8.5	31.1	(6.7)
Provision for income taxes	4.5	2.3	10	2.4
Net income (loss)	12.1	6.2	21.1	(9.1)
Less: Net (loss) income attributable to noncontrolling interest	(0.3)	(0.4)	1.7	(2.3)
Net income (loss) attributable to Mission Produce	$ 12.4	$ 6.6	$ 19.4	$ (6.8)
Net income (loss) per share attributable to Mission Produce:
Basic (in dollars per share)	$ 0.17	$ 0.09	$ 0.27	$ (0.10)
Diluted (in dollars per share)	$ 0.17	$ 0.09	$ 0.27	$ (0.10)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 12.1	$ 6.2	$ 21.1	$ (9.1)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	0.1	0.7	0.6	1.5
Total comprehensive income (loss), net of tax	12.2	6.9	21.7	(7.6)
Less: Comprehensive (loss) income attributable to noncontrolling interest	(0.3)	(0.4)	1.7	(2.3)
Comprehensive income (loss)	$ 12.5	$ 7.3	$ 20	$ (5.3)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Retained earnings	Noncontrolling interest
Beginning balance (in shares) at Oct. 31, 2022		70,669,535
Beginning balance at Oct. 31, 2022	$ 522.9	$ 0.1	$ 229.3	$ (1.7)	$ 274.4	$ 20.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	0.7		0.7
Exercise of stock options (in shares)		8,500
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes (in shares)		55,055
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes	(0.4)		(0.4)
Contributions from noncontrolling interest holders	1					1
Net income (loss)	(10.6)				(8.8)	(1.8)
Other comprehensive income	0.5			0.5
Ending balance (in shares) at Jan. 31, 2023		70,733,090
Ending balance at Jan. 31, 2023	514.1	$ 0.1	229.6	(1.2)	265.6	20
Beginning balance (in shares) at Oct. 31, 2022		70,669,535
Beginning balance at Oct. 31, 2022	522.9	$ 0.1	229.3	(1.7)	274.4	20.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(9.1)
Ending balance (in shares) at Jul. 31, 2023		70,791,225
Ending balance at Jul. 31, 2023	520.4	$ 0.1	232.2	(0.2)	267.6	20.7
Beginning balance (in shares) at Jan. 31, 2023		70,733,090
Beginning balance at Jan. 31, 2023	514.1	$ 0.1	229.6	(1.2)	265.6	20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1.3		1.3
Exercise of stock options (in shares)		5,000
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes (in shares)		47,592
Contributions from noncontrolling interest holders	0.4					0.4
Net income (loss)	(4.7)				(4.6)	(0.1)
Other comprehensive income	0.3			0.3
Ending balance (in shares) at Apr. 30, 2023		70,785,682
Ending balance at Apr. 30, 2023	511.4	$ 0.1	230.9	(0.9)	261	20.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1.2		1.2
Exercise of stock options (in shares)		5,543
Exercise of stock options	0.1		0.1
Contributions from noncontrolling interest holders	0.8					0.8
Net income (loss)	6.2				6.6	(0.4)
Other comprehensive income	0.7			0.7
Ending balance (in shares) at Jul. 31, 2023		70,791,225
Ending balance at Jul. 31, 2023	520.4	$ 0.1	232.2	(0.2)	267.6	20.7
Beginning balance (in shares) at Oct. 31, 2023		70,728,404
Beginning balance at Oct. 31, 2023	528.3	$ 0.1	233.4	(0.9)	271	24.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1.4		1.4
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes (in shares)		112,899
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes	(0.7)		(0.7)
Net income (loss)	2					2
Other comprehensive income	0.8			0.8
Ending balance (in shares) at Jan. 31, 2024		70,841,303
Ending balance at Jan. 31, 2024	531.8	$ 0.1	234.1	(0.1)	271	26.7
Beginning balance (in shares) at Oct. 31, 2023		70,728,404
Beginning balance at Oct. 31, 2023	528.3	$ 0.1	233.4	(0.9)	271	24.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21.1
Ending balance (in shares) at Jul. 31, 2024		70,909,730
Ending balance at Jul. 31, 2024	553.7	$ 0.1	237.1	(0.3)	290.4	26.4
Beginning balance (in shares) at Jan. 31, 2024		70,841,303
Beginning balance at Jan. 31, 2024	531.8	$ 0.1	234.1	(0.1)	271	26.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1.6		1.6
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes (in shares)		68,164
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes	(0.1)		(0.1)
Net income (loss)	7				7
Other comprehensive income	(0.3)			(0.3)
Ending balance (in shares) at Apr. 30, 2024		70,909,467
Ending balance at Apr. 30, 2024	540	$ 0.1	235.6	(0.4)	278	26.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1.5		1.5
Issuance of common stock for equity awards, net of shares withheld for the settlement of taxes (in shares)		263
Net income (loss)	12.1				12.4	(0.3)
Other comprehensive income	0.1			0.1
Ending balance (in shares) at Jul. 31, 2024		70,909,730
Ending balance at Jul. 31, 2024	$ 553.7	$ 0.1	$ 237.1	$ (0.3)	$ 290.4	$ 26.4

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Operating Activities
Net income (loss)	$ 21.1	$ (9.1)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Recovery) provision for losses on accounts receivable	(0.1)	0.1
Depreciation and amortization	27.5	22.8
Amortization of debt issuance costs	0.2	0.2
Equity method income	(2.6)	(3.2)
Noncash lease expense	4.6	4.4
Stock-based compensation	4.5	3.2
Dividends received from equity method investees	3.2	2.7
Losses on asset impairment, disposals and sales, net of insurance recoveries	3.8	1.2
Deferred income taxes	(1.3)	(1.2)
Unrealized (gain) loss on foreign currency transactions	(0.6)	2.9
Unrealized loss (gain) on derivative financial instruments	0.1	(0.1)
Effect on cash of changes in operating assets and liabilities:
Trade accounts receivable	(26.5)	(23.8)
Grower fruit advances	(0.7)	(0.7)
Other receivables	(1.4)	(1.4)
Inventory	(10.6)	(13.1)
Prepaid expenses and other current assets	0.8	2.5
Income taxes receivable	(2.6)	(4.3)
Other assets	0.5	2.3
Accounts payable and accrued expenses	10.6	5.7
Income taxes payable	2.4	(0.5)
Grower payables	28.6	4.2
Operating lease liabilities	(4.7)	(2.8)
Other long-term liabilities	(1.4)	0.7
Net cash provided by (used in) operating activities	55.4	(7.3)
Investing Activities
Purchases of property, plant and equipment	(25.3)	(47)
Proceeds from sale of property, plant and equipment	0.1	0.1
Investment in equity method investees	(0.6)	(1.4)
Purchase of other investment	0	(2.3)
Other	(0.2)	(0.1)
Net cash used in investing activities	(26)	(50.7)
Financing Activities
Borrowings on revolving credit facility	40	145
Payments on revolving credit facility	(55)	(115)
Proceeds from short-term borrowings	3	2.8
Repayment of short-term borrowings	(2.8)	(2.5)
Principal payments on long-term debt obligations	(2.7)	(2.7)
Principal payments on finance lease obligations	(1.6)	(2.4)
Payments for long-term supplier financing	(0.5)	0
Payments to noncontrolling interest holder for long-term supply financing	(2)	0
Principal payments on loans due to noncontrolling interest holder	(0.5)	0
Payments of minimum withholding taxes on net share settlement of equity awards	(0.8)	(0.4)
Exercise of stock options	0	0.1
Proceeds from loan from noncontrolling interest holder	0	2
Equity contributions from noncontrolling interest holders	0	2.2
Net cash (used in) provided by financing activities	(22.9)	29.1
Effect of exchange rate changes on cash	0.2	0.1
Net increase (decrease) in cash, cash equivalents and restricted cash	6.7	(28.8)
Cash, cash equivalents and restricted cash, beginning of period	43.2	53.9
Cash, cash equivalents and restricted cash, end of period	49.9	25.1
Summary of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:
Cash and cash equivalents	49.5	23
Restricted cash	0.4	2.1
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 49.9	$ 25.1

General

General	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Business Mission Produce, Inc. together with its consolidated subsidiaries (“Mission,” “the Company,” “we,” “us” or “our”), is a global leader in the avocado industry. The Company’s expertise lies in the farming, packaging, marketing and distribution of avocados to food retailers, distributors and produce wholesalers worldwide. The Company procures avocados principally from California, Mexico and Peru. Through our various operating facilities, we grow, sort, pack, bag and ripen avocados and a small amount of other fruits for distribution to domestic and international markets. We report our results of operations in three operating segments: Marketing and Distribution, International Farming and Blueberries (see Note 12). Basis of presentation and consolidation The unaudited interim condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and include the Company’s consolidated domestic and international subsidiaries and variable interest entity (“VIE”) for which we are the primary beneficiary and have a controlling interest. Certain information and disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited interim condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s Annual Report for the year ended October 31, 2023. In the opinion of management, all adjustments, of a normal recurring nature, considered necessary for a fair statement have been included in the unaudited condensed consolidated financial statements. Interim results of operations are not necessarily indicative of future results, including results that may be expected for the twelve months ended October 31, 2024. Recently issued accounting and disclosure standards In March 2024, the Securities and Exchange Commission ("SEC") adopted final climate-related disclosure rules that will require registrants to disclose (subject to materiality conditions): climate-related risks, material direct greenhouse gas emissions, and the effects of severe weather events and other natural conditions. Adoption is required on a phase-in basis with respect to annual periods beginning in calendar year 2025 (the Company's fiscal year 2026). In April 2024, the SEC issued a stay on the rules, pending the completion of judicial review of the U.S. Court of Appeals of the Eighth Circuit. We are currently monitoring the status of the judicial review and we are evaluating the impact of the rules on our financial disclosures. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued. The amendments should be applied on a prospective basis although retrospective application is permitted. We are currently evaluating the impact of adoption on our financial disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures. The ASU requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adoption on our financial disclosures.

Inventory

Inventory	9 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Major classes of inventory were as follows: (In millions) July 31, 2024 October 31, 2023 Finished goods $ 47.4 $ 29.5 Crop growing costs 17.4 21.5 Packaging and supplies 19.0 19.8 Inventory $ 83.8 $ 70.8

Goodwill and Intangible Asset,

Goodwill and Intangible Asset, net	9 Months Ended
	Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Asset, net	Goodwill and Intangible Asset, net Goodwill (In millions) International Farming Blueberries Total Goodwill as of July 31, 2024 and October 31, 2023 $ 26.9 $ 12.5 $ 39.4 The carrying amounts of goodwill as of July 31, 2024 and October 31, 2023 were net of accumulated impairment losses of $49.5 million, attributable to the International Farming segment. Goodwill is tested for impairment on an annual basis in the fourth quarter, or when an event or changes in circumstances indicate that its carrying value may not be recoverable. Intangible asset, net (In millions) July 31, 2024 October 31, 2023 Intangible asset, gross $ 2.8 $ 2.8 Accumulated amortization (2.8) (2.3) Intangible asset, net $ — $ 0.5 The intangible asset, net consisted of a distributor relationship entirely attributed to the business combination with Moruga on May 1, 2022. The intangible asset had an amortizable life of 2 years, and was recognized in selling, general and administrative expenses coinciding with the timing of the estimated revenues. No amortization expense was recognized in the three months ended July 31, 2024, as the asset was fully amortized as of April 30, 2024. During the three months ended July 31, 2023, amortization expense was less than $0.1 million. Amortization expense was $0.5 million and $1.2 million for the nine months ended July 31, 2024 and 2023, respectively.

Details of Certain Account Bala

Details of Certain Account Balances	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Details of Certain Account Balances	Details of Certain Account Balances Accrued expenses (In millions) July 31, 2024 October 31, 2023 Employee-related $ 14.6 $ 12.8 Freight 3.9 4.5 Outside fruit purchase 3.5 2.7 VAT and local taxes payable 0.6 0.3 Legal settlement — 0.8 Other 6.3 5.3 Accrued expenses $ 28.9 $ 26.4 Other long-term liabilities (In millions) July 31, 2024 October 31, 2023 Uncertain tax positions (1) $ 19.4 $ 19.4 Employee-related 2.0 1.4 Trade payables to noncontrolling interest holders 3.4 4.5 Interest rate swap 0.2 — Other 0.3 1.1 Other long-term liabilities $ 25.3 $ 26.4 (1) Includes uncertain tax positions related to both income taxes and other statutory tax reserves, plus related penalties and interest. Other income (expense), net Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 (Losses) gains on derivative financial instruments $ (0.1) $ 0.1 $ (0.1) $ 0.1 Foreign currency transaction gain (loss) 1.2 (1.3) (0.1) (2.6) Interest income 0.4 0.2 1.7 1.3 Other (0.2) (0.1) (0.2) (0.1) Other income (expense), net $ 1.3 $ (1.1) $ 1.3 $ (1.3) Other amounts attributable to noncontrolling interest holders Amounts included in trade accounts receivable due from noncontrolling interest holders were $0.9 million and $5.7 million as of July 31, 2024 and October 31, 2023, respectively. Amounts included in trade accounts payable due to noncontrolling interest holders were $1.9 million and $3.2 million as of July 31, 2024 and October 31, 2023, respectively.

Variable Interest Entity

Variable Interest Entity	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity	Variable Interest Entity Assets of our variable interest in Moruga may only be used to settle its own liabilities and creditors of Moruga only have recourse for the liabilities of Moruga. A summary of these balances, which are wholly included in our condensed consolidated balance sheets, is as follows: (In millions) July 31, 2024 October 31, 2023 Current assets $ 25.5 $ 30.0 Long-term assets 69.9 69.9 Current liabilities 13.1 17.0 Long-term liabilities 27.9 25.4

Debt

Debt	9 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Credit facility Long-term debt under our syndicated credit facility with Bank of America (“BoA”) Merrill Lynch consisted of the following: (In millions) July 31, 2024 October 31, 2023 Revolving line of credit. The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.19% and 7.42%, respectively. Interest is payable monthly and principal is due in full in October 2027 $ 40.0 $ 55.0 Senior term loan (A-1). The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.19% and 7.42%, respectively. Interest is payable monthly, principal is payable quarterly and due in full in October 2027. 45.6 47.5 Senior term loan (A-2). The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.44% and 7.67% respectively. Interest is payable monthly, principal is payable quarterly and due in full in October 2029. 49.1 49.5 Note payable to BoA. Payable in monthly installments including interest at a rate of 3.96% as of both July 31, 2024 and October 31, 2023. Principal is due July 2024. — 0.4 Total long-term debt 134.7 152.4 Less debt issuance costs (0.3) (0.4) Long-term debt, net of debt issuance costs 134.4 152.0 Less current portion of long-term debt (3.0) (3.4) Long-term debt, net of current portion $ 131.4 $ 148.6 The credit facility requires the Company to comply with financial and other covenants, including limitations on investments, capital expenditures, dividend payments, amounts and types of liens and indebtedness, and material asset sales. The Company is also required to maintain certain leverage and fixed charge coverage ratios. As of July 31, 2024, the Company was in compliance with all financial covenants of the credit facility. Other Certain of our consolidated subsidiaries may also enter into short-term bank borrowings from time to time. Short-term borrowings outstanding were $3.0 million and $2.8 million as of July 31, 2024 and October 31, 2023, respectively, with weighted average interest rates of 9.91% and 10.46%, respectively. Our Blueberries business also obtains loans from shareholders from time to time, which accrue interest at rates ranging from 5.0 to 6.5%. Amounts outstanding as of July 31, 2024 are expected to be repaid by the end of fiscal 2026. The Company may issue standby letters of credit through banking institutions. As of July 31, 2024, total letters of credit outstanding were $0.7 million. Interest rate swaps SOFR SOFR

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is involved from time to time in claims, proceedings, and litigation, including the following: On April 23, 2020, former Mission Produce, Inc. employees filed a class action lawsuit in the Superior Court of the State of California for the County of Los Angeles against us alleging violation of certain wage and labor laws in California, including failure to pay all overtime wages, minimum wage violations, and meal and rest period violations, among others. Additionally, on June 10, 2020, former Mission Produce, Inc. employees filed a class action lawsuit in the Superior Court of the State of California for the County of Ventura against us alleging similar violations of certain wage and labor laws. The plaintiffs in both cases seek damages primarily consisting of class certification and payment of wages earned and owed, plus other consequential and special damages. While the Company believes that it did not violate any wage or labor laws, in May 2021, the plaintiffs in both class action lawsuits and the Company agreed to settle the class action cases. Per the terms of the settlement agreement between the parties, the total amount of the settlement is $1.5 million. The Court granted Final Approval of the Class Action Settlement on June 10, 2024. Payment was sent to the Settlement Administrator on June 26, 2024, to be distributed directly to the class members. Once all settlement checks have been distributed and cashed or returned pursuant to the terms of the Settlement Agreement, the action will be dismissed with prejudice. This is expected to occur toward the end of 2024.

Income Taxes

Income Taxes	9 Months Ended
	Jul. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income tax recorded for the three and nine months ended July 31, 2024 and 2023 differs from the income taxes expected at the U.S. federal statutory tax rate of 21.0%, primarily due to income attributable to foreign jurisdictions which is taxed at different rates, changes in foreign exchange rates taxable in foreign jurisdictions, state taxes, nondeductible tax items and changes in uncertain tax positions (“UTP”).

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jul. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets or liabilities measured and recorded at fair value on a recurring basis included in the condensed consolidated balance sheets were as follows: July 31, 2024 October 31, 2023 (In millions) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Mutual funds $ 2.0 $ 2.0 $ — $ — $ 1.4 $ 1.4 $ — $ — Interest rate swap — — — — 0.4 — 0.4 — Liabilities Interest rate swap 0.2 — 0.2 — — — — — Our mutual fund investments relate to our deferred compensation plan, which are held in a Rabbi trust which is included in other assets in our consolidated balance sheets. The funds are measured at quoted prices in active markets, which is equivalent to their fair value. The fair value of interest rate swaps is determined using widely accepted valuation techniques, including the discounted cash flow method. The analysis reflects the contractual terms of the swaps, including the period to maturity, and uses observable market-based inputs, including interest rate curves (“significant other observable inputs”). The fair value calculation also includes an amount for risk of non-performance using “significant unobservable inputs” such as estimates of current credit spreads to evaluate the likelihood of default. The Company has concluded, as of July 31, 2024 and October 31, 2023, the fair value associated with the “significant unobservable inputs” relating to the Company’s risk of non-performance was insignificant to the overall fair value of the interest rate swap agreements and, as a result, the Company determined that the relevant inputs for purposes of calculating the fair value of the interest rate swap agreements, in their entirety, were based upon “significant other observable inputs”. The assets or liabilities associated with the interest rate swaps have been included in prepaid expenses and other current assets or accrued

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) attributable to Mission Produce (in millions) $ 12.4 $ 6.6 $ 19.4 $ (6.8) Denominator: Weighted average shares of common stock outstanding, used in computing basic earnings per share 70,909,716 70,788,574 70,843,647 70,740,638 Effect of dilutive stock options — 203 — — Effect of dilutive RSUs 173,229 129,253 133,857 — Weighted average shares of common stock outstanding, used in computing diluted earnings per share 71,082,945 70,918,030 70,977,504 70,740,638 Earnings per share Basic $ 0.17 $ 0.09 $ 0.27 $ (0.10) Diluted $ 0.17 $ 0.09 $ 0.27 $ (0.10) Equity awards representing shares of common stock outstanding that were excluded in the computation of diluted earnings per share because their effect would have been anti-dilutive as a result of applying the treasury stock method, were as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Anti-dilutive stock options 2,078,268 1,897,256 2,078,268 2,103,633 Anti-dilutive RSUs 146,004 120,214 366,841 571,640

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jul. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions with related parties included in the condensed consolidated financial statements were as follows: Condensed Consolidated Balance Sheets July 31, 2024 October 31, 2023 (In millions) Accounts receivable Property, plant and equipment, net Accounts payable & accrued expenses Finance lease liabilities Accounts receivable Property, plant and equipment, net Accounts payable & accrued expenses Finance lease liabilities Equity method investees: Henry Avocado $ 1.0 $ — $ — $ — $ — $ — $ 0.1 $ — Mr. Avocado 1.1 — — — 2.9 — — — Other: Directors/Officers (1) — 20.3 1.3 21.2 0.1 15.2 0.2 15.7 Employees (2) — — 0.1 — — — 0.5 — Condensed Consolidated Statements of Income (Loss) (In millions) Net sales Cost of sales Interest expense Net sales Cost of sales Interest expense Three Months Ended Three Months Ended Equity method investees: Henry Avocado $ 2.4 $ — $ — $ 1.1 $ — $ — Mr. Avocado 0.1 — — 4.9 — — Other: Directors/Officers (1) 0.5 4.2 0.5 0.3 1.6 0.3 Employees (2) — 1.3 — — 2.0 — Nine Months Ended Nine Months Ended Equity method investees: Henry Avocado $ 2.4 $ — $ — $ 1.1 $ — $ — Mr. Avocado 0.1 — — 6.7 — — Other: Directors/Officers (1)) 1.0 5.3 1.5 0.9 2.7 1.0 Employees (2) — 7.4 — — 7.3 — (1) The Company purchases from and sells fruit to, and provides logistics services to, a small number of entities having full or partial ownership by some of our directors/officers. These transactions are made under substantially similar terms as with other growers and customers. Our blueberries business leases land under a long-term lease with a company owned by one of our directors. The rental rate in the lease was comparable to market rates and reflective of an arms-length transaction. The lease was accounted for as a finance lease right-of-use asset and is included in property, plant and equipment, net in the consolidated balance sheets, with amortization and interest expense recognized in cost of sales and interest expense, respectively, in the condensed consolidated statements of income (loss). The portion of lease costs attributable to noncontrolling interest, net of income taxes, was $0.2 million for both the three months ended July 31, 2024 and 2023, and $0.7 million and $0.5 million for the nine months ended July 31, 2024 and 2023, respectively; amounts were included as part of net income (loss) attributable to noncontrolling interest in the condensed consolidated statements of income (loss). (2) The Company utilizes a small number of transportation vendors in Mexico having full or partial ownership by some of our employees. The Company also purchases avocados from a small number of entities having full or partial ownership by some employees. These transactions are made under substantially similar terms as with other transportation carriers and growers.

Segment and Revenue Information

Segment and Revenue Information	9 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Segment and Revenue Information	Segment and Revenue Information We have three operating segments which are also reportable segments. Our reportable segments are presented based on how information is used by our CEO, who is the chief operating decision maker, to measure performance and allocate resources. • Marketing and Distribution. Our Marketing and Distribution reportable segment sources fruit from growers and then distributes the fruit through our global distribution network. • International Farming. International Farming owns and operates orchards from which the vast majority of fruit produced is sold to our Marketing and Distribution segment. The segment’s farming activities range from cultivating early-stage plantings to harvesting from mature trees. It also earns service revenues for packing and processing fruit for both our Blueberries segment, as well as for third-party producers of other crops. Operations are principally located in Peru, with smaller operations emerging in other areas of Latin America. • Blueberries. The Blueberries segment represents the results of Moruga. Moruga’s farming activities include cultivating early-stage blueberry plantings and harvesting mature bushes. Substantially all blueberries produced are sold to a single distributor under an exclusive marketing agreement. The CEO evaluates and monitors segment performance primarily through segment sales and segment adjusted EBITDA. Adjusted EBITDA refers to net income (loss), before interest expense, income taxes, depreciation and amortization expense, stock-based compensation expense, other income (expense), and income (loss) from equity method investees, further adjusted by asset impairment and disposals, net of insurance recoveries, farming costs for nonproductive orchards (which represents land lease costs), recognition of deferred ERP costs, transaction costs, amortization of inventory adjustments recognized from business combinations, and any special, non-recurring, or one-time items such as remeasurements or impairments, and any portion of these items attributable to the noncontrolling interest, all of which are excluded from the results the CEO reviews uses to assess segment performance and results. We believe that adjusted EBITDA by segment provides useful information for analyzing the underlying business results as well as allowing investors a means to evaluate the financial results of each reportable segment in relation to the Company as a whole. These measures are not in accordance with, nor are they a substitute for or superior to, the comparable GAAP financial measures. Net sales from each of our reportable segments were as follows. Marketing and Distribution International Farming Blueberries Total Marketing and Distribution International Farming Blueberries Total Three Months Ended (In millions) 2024 2023 Third party sales $ 321.3 $ 1.1 $ 1.6 $ 324.0 $ 256.6 $ 3.4 $ 1.4 $ 261.4 Affiliated sales — 26.3 — 26.3 — 34.8 — 34.8 Total segment sales 321.3 27.4 1.6 350.3 256.6 38.2 1.4 296.2 Intercompany eliminations — (26.3) — (26.3) — (34.8) — (34.8) Total net sales $ 321.3 $ 1.1 $ 1.6 $ 324.0 $ 256.6 $ 3.4 $ 1.4 $ 261.4 Nine Months Ended 2024 2023 Third party sales $ 833.0 $ 3.2 $ 44.1 $ 880.3 $ 653.7 $ 9.4 $ 32.9 $ 696.0 Affiliated sales — 31.4 — 31.4 — 40.5 — 40.5 Total segment sales 833.0 34.6 44.1 911.7 653.7 49.9 32.9 736.5 Intercompany eliminations — (31.4) — (31.4) — (40.5) — (40.5) Total net sales $ 833.0 $ 3.2 $ 44.1 $ 880.3 $ 653.7 $ 9.4 $ 32.9 $ 696.0 Supplemental sales information is as follows. Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 By type Avocado $ 306.9 $ 249.2 $ 786.7 $ 626.1 Blueberry 1.6 1.4 44.1 32.9 Mango 13.9 6.9 43.0 27.2 Other 1.6 3.9 6.5 9.8 Total net sales $ 324.0 $ 261.4 $ 880.3 $ 696.0 By customer location United States $ 270.3 $ 202.4 $ 736.1 $ 560.3 Rest of world 53.7 59.0 144.2 135.7 Total net sales $ 324.0 $ 261.4 $ 880.3 $ 696.0 Adjusted EBITDA (as defined above) for each of our reportable segments was as follows: Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Marketing and Distribution adjusted EBITDA $ 26.8 $ 16.1 $ 59.5 $ 29.3 International Farming adjusted EBITDA 4.6 4.9 1.9 2.0 Blueberries adjusted EBITDA 0.1 0.2 9.5 (0.2) Total reportable segment adjusted EBITDA $ 31.5 $ 21.2 $ 70.9 $ 31.1 Net income (loss) 12.1 6.2 21.1 (9.1) Interest expense 3.2 3.2 9.9 8.3 Provision for income taxes 4.5 2.3 10.0 2.4 Depreciation and amortization (1) 8.9 7.6 27.5 22.8 Equity method income (1.7) (1.8) (2.6) (3.2) Stock-based compensation 1.5 1.2 4.5 3.2 Losses on asset impairment, disposals and sales, net of insurance recoveries 3.4 0.4 3.8 1.2 Farming costs for nonproductive orchards 0.5 0.5 1.3 1.3 Recognition of deferred ERP costs 0.5 0.6 1.6 1.7 Severance — — 1.3 — Legal settlement — — 0.2 — Transaction costs — — — 0.3 Amortization of inventory adjustment recognized from business combination — — — 0.7 Other (income) expense, net (1.3) 1.1 (1.3) 1.3 Noncontrolling interest (2) (0.1) (0.1) (6.4) 0.2 Total adjusted EBITDA $ 31.5 $ 21.2 $ 70.9 $ 31.1 (1) Includes depreciation and amortization of purchase accounting assets of $0.2 million and $0.1 million for the three months ended July 31, 2024 and 2023, respectively, and $3.5 million and $1.8 million for the nine months ended July 31, 2024 and 2023, respectively. The nine months ended July 31, 2024 included $4.1 million of accelerated depreciation expense recognized during the first quarter of 2024, for certain blueberry plants determined to have no remaining useful life. (2) Represents net income (loss) attributable to noncontrolling interest plus the impact of non-GAAP adjustments, allocable to the noncontrolling owner based on their percentage of ownership interest.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 12.4	$ 6.6	$ 19.4	$ (6.8)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation The unaudited interim condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and include the Company’s consolidated domestic and international subsidiaries and variable interest entity (“VIE”) for which we are the primary beneficiary and have a controlling interest. Certain information and disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited interim condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s Annual Report for the year ended October 31, 2023. In the opinion of management, all adjustments, of a normal recurring nature, considered necessary for a fair statement have been included in the unaudited condensed consolidated financial statements. Interim results of operations are not necessarily indicative of future results, including results that may be expected for the twelve months ended October 31, 2024.
Recently issued accounting and disclosure standards	Recently issued accounting and disclosure standards In March 2024, the Securities and Exchange Commission ("SEC") adopted final climate-related disclosure rules that will require registrants to disclose (subject to materiality conditions): climate-related risks, material direct greenhouse gas emissions, and the effects of severe weather events and other natural conditions. Adoption is required on a phase-in basis with respect to annual periods beginning in calendar year 2025 (the Company's fiscal year 2026). In April 2024, the SEC issued a stay on the rules, pending the completion of judicial review of the U.S. Court of Appeals of the Eighth Circuit. We are currently monitoring the status of the judicial review and we are evaluating the impact of the rules on our financial disclosures. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued. The amendments should be applied on a prospective basis although retrospective application is permitted. We are currently evaluating the impact of adoption on our financial disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures. The ASU requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adoption on our financial disclosures.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Major Classes of Inventory	Major classes of inventory were as follows: (In millions) July 31, 2024 October 31, 2023 Finished goods $ 47.4 $ 29.5 Crop growing costs 17.4 21.5 Packaging and supplies 19.0 19.8 Inventory $ 83.8 $ 70.8

Goodwill and Intangible Asset_2

Goodwill and Intangible Asset, net (Tables)	9 Months Ended
	Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	(In millions) International Farming Blueberries Total Goodwill as of July 31, 2024 and October 31, 2023 $ 26.9 $ 12.5 $ 39.4
Schedule of Intangible Asset, Net	(In millions) July 31, 2024 October 31, 2023 Intangible asset, gross $ 2.8 $ 2.8 Accumulated amortization (2.8) (2.3) Intangible asset, net $ — $ 0.5

Details of Certain Account Ba_2

Details of Certain Account Balances (Tables)	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accrued Expenses	Accrued expenses (In millions) July 31, 2024 October 31, 2023 Employee-related $ 14.6 $ 12.8 Freight 3.9 4.5 Outside fruit purchase 3.5 2.7 VAT and local taxes payable 0.6 0.3 Legal settlement — 0.8 Other 6.3 5.3 Accrued expenses $ 28.9 $ 26.4
Schedule of Other Long-term Liabilities	Other long-term liabilities (In millions) July 31, 2024 October 31, 2023 Uncertain tax positions (1) $ 19.4 $ 19.4 Employee-related 2.0 1.4 Trade payables to noncontrolling interest holders 3.4 4.5 Interest rate swap 0.2 — Other 0.3 1.1 Other long-term liabilities $ 25.3 $ 26.4 (1) Includes uncertain tax positions related to both income taxes and other statutory tax reserves, plus related penalties and interest.
Schedule of Other Income (Expense), Net	Other income (expense), net Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 (Losses) gains on derivative financial instruments $ (0.1) $ 0.1 $ (0.1) $ 0.1 Foreign currency transaction gain (loss) 1.2 (1.3) (0.1) (2.6) Interest income 0.4 0.2 1.7 1.3 Other (0.2) (0.1) (0.2) (0.1) Other income (expense), net $ 1.3 $ (1.1) $ 1.3 $ (1.3)

Variable Interest Entity (Table

Variable Interest Entity (Tables)	9 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	A summary of these balances, which are wholly included in our condensed consolidated balance sheets, is as follows: (In millions) July 31, 2024 October 31, 2023 Current assets $ 25.5 $ 30.0 Long-term assets 69.9 69.9 Current liabilities 13.1 17.0 Long-term liabilities 27.9 25.4

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Under Credit Facility	Long-term debt under our syndicated credit facility with Bank of America (“BoA”) Merrill Lynch consisted of the following: (In millions) July 31, 2024 October 31, 2023 Revolving line of credit. The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.19% and 7.42%, respectively. Interest is payable monthly and principal is due in full in October 2027 $ 40.0 $ 55.0 Senior term loan (A-1). The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.19% and 7.42%, respectively. Interest is payable monthly, principal is payable quarterly and due in full in October 2027. 45.6 47.5 Senior term loan (A-2). The interest rate is variable, based on SOFR plus a spread that varies with the Company’s leverage ratio. As of July 31, 2024 and October 31, 2023, the interest rate was 7.44% and 7.67% respectively. Interest is payable monthly, principal is payable quarterly and due in full in October 2029. 49.1 49.5 Note payable to BoA. Payable in monthly installments including interest at a rate of 3.96% as of both July 31, 2024 and October 31, 2023. Principal is due July 2024. — 0.4 Total long-term debt 134.7 152.4 Less debt issuance costs (0.3) (0.4) Long-term debt, net of debt issuance costs 134.4 152.0 Less current portion of long-term debt (3.0) (3.4) Long-term debt, net of current portion $ 131.4 $ 148.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jul. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured and Recorded at Fair Value on a Recurring Basis	Financial assets or liabilities measured and recorded at fair value on a recurring basis included in the condensed consolidated balance sheets were as follows: July 31, 2024 October 31, 2023 (In millions) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Mutual funds $ 2.0 $ 2.0 $ — $ — $ 1.4 $ 1.4 $ — $ — Interest rate swap — — — — 0.4 — 0.4 — Liabilities Interest rate swap 0.2 — 0.2 — — — — —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) attributable to Mission Produce (in millions) $ 12.4 $ 6.6 $ 19.4 $ (6.8) Denominator: Weighted average shares of common stock outstanding, used in computing basic earnings per share 70,909,716 70,788,574 70,843,647 70,740,638 Effect of dilutive stock options — 203 — — Effect of dilutive RSUs 173,229 129,253 133,857 — Weighted average shares of common stock outstanding, used in computing diluted earnings per share 71,082,945 70,918,030 70,977,504 70,740,638 Earnings per share Basic $ 0.17 $ 0.09 $ 0.27 $ (0.10) Diluted $ 0.17 $ 0.09 $ 0.27 $ (0.10)
Schedule of Equity Awards Excluded from Computation of Diluted EPS	Equity awards representing shares of common stock outstanding that were excluded in the computation of diluted earnings per share because their effect would have been anti-dilutive as a result of applying the treasury stock method, were as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Anti-dilutive stock options 2,078,268 1,897,256 2,078,268 2,103,633 Anti-dilutive RSUs 146,004 120,214 366,841 571,640

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Jul. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Transactions with related parties included in the condensed consolidated financial statements were as follows: Condensed Consolidated Balance Sheets July 31, 2024 October 31, 2023 (In millions) Accounts receivable Property, plant and equipment, net Accounts payable & accrued expenses Finance lease liabilities Accounts receivable Property, plant and equipment, net Accounts payable & accrued expenses Finance lease liabilities Equity method investees: Henry Avocado $ 1.0 $ — $ — $ — $ — $ — $ 0.1 $ — Mr. Avocado 1.1 — — — 2.9 — — — Other: Directors/Officers (1) — 20.3 1.3 21.2 0.1 15.2 0.2 15.7 Employees (2) — — 0.1 — — — 0.5 — Condensed Consolidated Statements of Income (Loss) (In millions) Net sales Cost of sales Interest expense Net sales Cost of sales Interest expense Three Months Ended Three Months Ended Equity method investees: Henry Avocado $ 2.4 $ — $ — $ 1.1 $ — $ — Mr. Avocado 0.1 — — 4.9 — — Other: Directors/Officers (1) 0.5 4.2 0.5 0.3 1.6 0.3 Employees (2) — 1.3 — — 2.0 — Nine Months Ended Nine Months Ended Equity method investees: Henry Avocado $ 2.4 $ — $ — $ 1.1 $ — $ — Mr. Avocado 0.1 — — 6.7 — — Other: Directors/Officers (1)) 1.0 5.3 1.5 0.9 2.7 1.0 Employees (2) — 7.4 — — 7.3 — (1) The Company purchases from and sells fruit to, and provides logistics services to, a small number of entities having full or partial ownership by some of our directors/officers. These transactions are made under substantially similar terms as with other growers and customers. Our blueberries business leases land under a long-term lease with a company owned by one of our directors. The rental rate in the lease was comparable to market rates and reflective of an arms-length transaction. The lease was accounted for as a finance lease right-of-use asset and is included in property, plant and equipment, net in the consolidated balance sheets, with amortization and interest expense recognized in cost of sales and interest expense, respectively, in the condensed consolidated statements of income (loss). The portion of lease costs attributable to noncontrolling interest, net of income taxes, was $0.2 million for both the three months ended July 31, 2024 and 2023, and $0.7 million and $0.5 million for the nine months ended July 31, 2024 and 2023, respectively; amounts were included as part of net income (loss) attributable to noncontrolling interest in the condensed consolidated statements of income (loss). (2) The Company utilizes a small number of transportation vendors in Mexico having full or partial ownership by some of our employees. The Company also purchases avocados from a small number of entities having full or partial ownership by some employees. These transactions are made under substantially similar terms as with other transportation carriers and growers.

Segment and Revenue Informati_2

Segment and Revenue Information (Tables)	9 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Schedule of Net Sales by Segment	Net sales from each of our reportable segments were as follows. Marketing and Distribution International Farming Blueberries Total Marketing and Distribution International Farming Blueberries Total Three Months Ended (In millions) 2024 2023 Third party sales $ 321.3 $ 1.1 $ 1.6 $ 324.0 $ 256.6 $ 3.4 $ 1.4 $ 261.4 Affiliated sales — 26.3 — 26.3 — 34.8 — 34.8 Total segment sales 321.3 27.4 1.6 350.3 256.6 38.2 1.4 296.2 Intercompany eliminations — (26.3) — (26.3) — (34.8) — (34.8) Total net sales $ 321.3 $ 1.1 $ 1.6 $ 324.0 $ 256.6 $ 3.4 $ 1.4 $ 261.4 Nine Months Ended 2024 2023 Third party sales $ 833.0 $ 3.2 $ 44.1 $ 880.3 $ 653.7 $ 9.4 $ 32.9 $ 696.0 Affiliated sales — 31.4 — 31.4 — 40.5 — 40.5 Total segment sales 833.0 34.6 44.1 911.7 653.7 49.9 32.9 736.5 Intercompany eliminations — (31.4) — (31.4) — (40.5) — (40.5) Total net sales $ 833.0 $ 3.2 $ 44.1 $ 880.3 $ 653.7 $ 9.4 $ 32.9 $ 696.0 Supplemental sales information is as follows. Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 By type Avocado $ 306.9 $ 249.2 $ 786.7 $ 626.1 Blueberry 1.6 1.4 44.1 32.9 Mango 13.9 6.9 43.0 27.2 Other 1.6 3.9 6.5 9.8 Total net sales $ 324.0 $ 261.4 $ 880.3 $ 696.0 By customer location United States $ 270.3 $ 202.4 $ 736.1 $ 560.3 Rest of world 53.7 59.0 144.2 135.7 Total net sales $ 324.0 $ 261.4 $ 880.3 $ 696.0
Schedule of Reconciliation of Revenue from Segments to Consolidated	Adjusted EBITDA (as defined above) for each of our reportable segments was as follows: Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Marketing and Distribution adjusted EBITDA $ 26.8 $ 16.1 $ 59.5 $ 29.3 International Farming adjusted EBITDA 4.6 4.9 1.9 2.0 Blueberries adjusted EBITDA 0.1 0.2 9.5 (0.2) Total reportable segment adjusted EBITDA $ 31.5 $ 21.2 $ 70.9 $ 31.1 Net income (loss) 12.1 6.2 21.1 (9.1) Interest expense 3.2 3.2 9.9 8.3 Provision for income taxes 4.5 2.3 10.0 2.4 Depreciation and amortization (1) 8.9 7.6 27.5 22.8 Equity method income (1.7) (1.8) (2.6) (3.2) Stock-based compensation 1.5 1.2 4.5 3.2 Losses on asset impairment, disposals and sales, net of insurance recoveries 3.4 0.4 3.8 1.2 Farming costs for nonproductive orchards 0.5 0.5 1.3 1.3 Recognition of deferred ERP costs 0.5 0.6 1.6 1.7 Severance — — 1.3 — Legal settlement — — 0.2 — Transaction costs — — — 0.3 Amortization of inventory adjustment recognized from business combination — — — 0.7 Other (income) expense, net (1.3) 1.1 (1.3) 1.3 Noncontrolling interest (2) (0.1) (0.1) (6.4) 0.2 Total adjusted EBITDA $ 31.5 $ 21.2 $ 70.9 $ 31.1 (1) Includes depreciation and amortization of purchase accounting assets of $0.2 million and $0.1 million for the three months ended July 31, 2024 and 2023, respectively, and $3.5 million and $1.8 million for the nine months ended July 31, 2024 and 2023, respectively. The nine months ended July 31, 2024 included $4.1 million of accelerated depreciation expense recognized during the first quarter of 2024, for certain blueberry plants determined to have no remaining useful life. (2) Represents net income (loss) attributable to noncontrolling interest plus the impact of non-GAAP adjustments, allocable to the noncontrolling owner based on their percentage of ownership interest.

General (Details)

General (Details)	9 Months Ended
	Jul. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 47.4	$ 29.5
Crop growing costs	17.4	21.5
Packaging and supplies	19	19.8
Inventory	$ 83.8	$ 70.8

Goodwill and Intangible Asset_3

Goodwill and Intangible Asset, net - Goodwill (Details) $ in Millions	Jul. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 39.4
Goodwill, ending balance	39.4
International Farming
Goodwill [Roll Forward]
Goodwill, beginning balance	26.9
Goodwill, ending balance	26.9
Blueberries
Goodwill [Roll Forward]
Goodwill, beginning balance	12.5
Goodwill, ending balance	$ 12.5

Goodwill and Intangible Asset_4

Goodwill and Intangible Asset, net - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Goodwill [Line Items]
Intangible asset amortizable life (in years)	2 years		2 years
Amortization expense	$ 0	$ 100,000	$ 500,000	$ 1,200,000
International Farming
Goodwill [Line Items]
Goodwill, impairment loss			$ 49,500,000		$ 49,500,000

Goodwill and Intangible Asset_5

Goodwill and Intangible Asset, net - Intangible Asset, Net (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset, gross	$ 2.8	$ 2.8
Accumulated amortization	(2.8)	(2.3)
Intangible asset, net	$ 0	$ 0.5

Details of Certain Account Ba_3

Details of Certain Account Balances - Accrued Expenses (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Employee-related	$ 14.6	$ 12.8
Freight	3.9	4.5
Outside fruit purchase	3.5	2.7
VAT and local taxes payable	0.6	0.3
Legal settlement	0	0.8
Other	6.3	5.3
Accrued expenses	$ 28.9	$ 26.4

Details of Certain Account Ba_4

Details of Certain Account Balances - Other Long-term Liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Uncertain tax positions	$ 19.4	$ 19.4
Employee-related	2	1.4
Trade payables to noncontrolling interest holders	3.4	4.5
Interest rate swap	0.2	0
Other	0.3	1.1
Other long-term liabilities	$ 25.3	$ 26.4

Details of Certain Account Ba_5

Details of Certain Account Balances - Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
(Losses) gains on derivative financial instruments	$ (0.1)	$ 0.1	$ (0.1)	$ 0.1
Foreign currency transaction gain (loss)	1.2	(1.3)	(0.1)	(2.6)
Interest income	0.4	0.2	1.7	1.3
Other	(0.2)	(0.1)	(0.2)	(0.1)
Other income (expense), net	$ 1.3	$ (1.1)	$ 1.3	$ (1.3)

Details of Certain Account Ba_6

Details of Certain Account Balances - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Product Information [Line Items]
Trade accounts receivable	$ 101.5	$ 74.1
Trade accounts payable	29.7	27.2
Noncontrolling Interest Holders
Product Information [Line Items]
Trade accounts receivable	0.9	5.7
Trade accounts payable	$ 1.9	$ 3.2

Variable Interest Entity (Detai

Variable Interest Entity (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Variable Interest Entity [Line Items]
Current assets	$ 271.1	$ 220.1
Current liabilities	133.9	97.5
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Current assets	25.5	30
Long-term assets	69.9	69.9
Current liabilities	13.1	17
Long-term liabilities	$ 27.9	$ 25.4

Debt - Long-term Debt Under Cre

Debt - Long-term Debt Under Credit Facility (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Debt Instrument [Line Items]
Total long-term debt	$ 134.7	$ 152.4
Less debt issuance costs	(0.3)	(0.4)
Long-term debt, net of debt issuance costs	134.4	152
Less current portion of long-term debt	(3)	(3.4)
Long-term debt, net of current portion	131.4	148.6
Revolving Line of Credit | Line of Credit
Debt Instrument [Line Items]
Total long-term debt	$ 40	$ 55
Interest rate	7.19%	7.42%
Senior Term Loan A-1 | Secured Debt
Debt Instrument [Line Items]
Total long-term debt	$ 45.6	$ 47.5
Interest rate	7.19%	7.42%
Senior Term Loan A-2 | Secured Debt
Debt Instrument [Line Items]
Total long-term debt	$ 49.1	$ 49.5
Interest rate	7.44%	7.67%
Notes Payable, BoA | Secured Debt
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 0.4
Interest rate	3.96%	3.96%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	9 Months Ended	12 Months Ended
	Jul. 31, 2024	Oct. 31, 2023
Derivative [Line Items]
Short-term borrowings	$ 3,000,000	$ 2,800,000
Percentage bearing variable interest rate	9.91%	10.46%
Letters of credit outstanding	$ 700,000
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 10,000,000	$ 25,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]	Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Interest Rate Swap | Variable Rate Component One
Derivative [Line Items]
Basis spread on variable rate	4.47%	2.30%
Minimum | Blueberries
Derivative [Line Items]
Percentage bearing variable interest rate	5%
Maximum | Blueberries
Derivative [Line Items]
Percentage bearing variable interest rate	6.50%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended
	May 31, 2021 USD ($)
Class Action V. Mission Produce | Settled Litigation
Loss Contingencies [Line Items]
Amount awarded to other party	$ 1.5

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Jul. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Uncertain tax provision	$ 17
Penalties and interest accrued	$ 9.3

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Recurring - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mutual funds	$ 2	$ 1.4
Interest Rate Swap
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate swap	0	0.4
Interest rate swap	0.2	0
Quoted Prices in Active Markets (Level 1)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mutual funds	2	1.4
Quoted Prices in Active Markets (Level 1) | Interest Rate Swap
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate swap	0	0
Interest rate swap	0	0
Significant Other Observable Inputs (Level 2)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mutual funds	0	0
Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate swap	0	0.4
Interest rate swap	0.2	0
Significant Unobservable Inputs (Level 3)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mutual funds	0	0
Significant Unobservable Inputs (Level 3) | Interest Rate Swap
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate swap	0	0
Interest rate swap	$ 0	$ 0

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Numerator:
Net income (loss) attributable to Mission Produce (in millions)	$ 12.4	$ 6.6	$ 19.4	$ (6.8)
Denominator:
Weighted average shares of common stock outstanding, used in computing basic earnings per share (in shares)	70,909,716	70,788,574	70,843,647	70,740,638
Weighted average shares of common stock outstanding, used in computing diluted earnings per share (in shares)	71,082,945	70,918,030	70,977,504	70,740,638
Earnings per share
Basic (in dollars per share)	$ 0.17	$ 0.09	$ 0.27	$ (0.10)
Diluted (in dollars per share)	$ 0.17	$ 0.09	$ 0.27	$ (0.10)
Effect of dilutive stock options
Denominator:
Effect of dilutive securities (in shares)	0	203	0	0
Effect of dilutive RSUs
Denominator:
Effect of dilutive securities (in shares)	173,229	129,253	133,857	0

Earnings Per Share - Equity Awa

Earnings Per Share - Equity Awards Excluded from Computation of Diluted EPS (Details) - shares	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Anti-dilutive stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	2,078,268	1,897,256	2,078,268	2,103,633
Anti-dilutive RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	146,004	120,214	366,841	571,640

Related Party Transactions - Ba

Related Party Transactions - Balance Sheets (Details) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Related Party Transaction [Line Items]
Accounts receivable	$ 13.8	$ 12.4
Property, plant and equipment, net	520.5	523.2
Directors/Officers
Related Party Transaction [Line Items]
Accounts receivable	0	0.1
Property, plant and equipment, net	20.3	15.2
Accounts payable & accrued expenses	1.3	0.2
Finance lease liabilities	21.2	15.7
Employees
Related Party Transaction [Line Items]
Accounts receivable	0	0
Property, plant and equipment, net	0	0
Accounts payable & accrued expenses	0.1	0.5
Finance lease liabilities	0	0
Henry Avocado | Equity Method Investees
Related Party Transaction [Line Items]
Accounts receivable	1	0
Property, plant and equipment, net	0	0
Accounts payable & accrued expenses	0	0.1
Finance lease liabilities	0	0
Mr. Avocado | Equity Method Investees
Related Party Transaction [Line Items]
Accounts receivable	1.1	2.9
Property, plant and equipment, net	0	0
Accounts payable & accrued expenses	0	0
Finance lease liabilities	$ 0	$ 0

Related Party Transactions - Co

Related Party Transactions - Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Related Party Transaction [Line Items]
Net sales	$ 324	$ 261.4	$ 880.3	$ 696
Cost of sales	287	233	783.6	640.5
Interest expense	3.2	3.2	9.9	8.3
Lease cost, portion attributable to noncontrolling interest	0.2	0.2	0.7	0.5
Directors/Officers
Related Party Transaction [Line Items]
Net sales	0.5	0.3	1	0.9
Cost of sales	4.2	1.6	5.3	2.7
Interest expense	0.5	0.3	1.5	1
Employees
Related Party Transaction [Line Items]
Net sales	0	0	0	0
Cost of sales	1.3	2	7.4	7.3
Interest expense	0	0	0	0
Henry Avocado | Equity Method Investees
Related Party Transaction [Line Items]
Net sales	2.4	1.1	2.4	1.1
Cost of sales	0	0	0	0
Interest expense	0	0	0	0
Mr. Avocado | Equity Method Investees
Related Party Transaction [Line Items]
Net sales	0.1	4.9	0.1	6.7
Cost of sales	0	0	0	0
Interest expense	$ 0	$ 0	$ 0	$ 0

Segment and Revenue Informati_3

Segment and Revenue Information - Narrative (Details)	9 Months Ended
	Jul. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3
Number of reportable segments	3

Segment and Revenue Informati_4

Segment and Revenue Information - Net Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	$ 324	$ 261.4	$ 880.3	$ 696
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	270.3	202.4	736.1	560.3
Rest of world
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	53.7	59	144.2	135.7
Avocado
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	306.9	249.2	786.7	626.1
Blueberry
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.6	1.4	44.1	32.9
Mango
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	13.9	6.9	43	27.2
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.6	3.9	6.5	9.8
Marketing and Distribution
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	321.3	256.6	833	653.7
International Farming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.1	3.4	3.2	9.4
Blueberries
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.6	1.4	44.1	32.9
Operating segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	350.3	296.2	911.7	736.5
Operating segment | Marketing and Distribution
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	321.3	256.6	833	653.7
Operating segment | International Farming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	27.4	38.2	34.6	49.9
Operating segment | Blueberries
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.6	1.4	44.1	32.9
Operating segment | Third party sales
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	324	261.4	880.3	696
Operating segment | Third party sales | Marketing and Distribution
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	321.3	256.6	833	653.7
Operating segment | Third party sales | International Farming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.1	3.4	3.2	9.4
Operating segment | Third party sales | Blueberries
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	1.6	1.4	44.1	32.9
Operating segment | Affiliated sales
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	26.3	34.8	31.4	40.5
Operating segment | Affiliated sales | Marketing and Distribution
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	0	0	0	0
Operating segment | Affiliated sales | International Farming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	26.3	34.8	31.4	40.5
Operating segment | Affiliated sales | Blueberries
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	0	0	0	0
Intercompany eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	(26.3)	(34.8)	(31.4)	(40.5)
Intercompany eliminations | Marketing and Distribution
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	0	0	0	0
Intercompany eliminations | International Farming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	(26.3)	(34.8)	(31.4)	(40.5)
Intercompany eliminations | Blueberries
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net sales	$ 0	$ 0	$ 0	$ 0

Segment and Revenue Informati_5

Segment and Revenue Information - Adjustments for EBITDA by Segment (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Jul. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Segment Reporting Information [Line Items]
Net income (loss)	$ 12.1	$ 7	$ 2	$ 6.2	$ (4.7)	$ (10.6)	$ 21.1	$ (9.1)
Interest expense	3.2			3.2			9.9	8.3
Provision for income taxes	4.5			2.3			10	2.4
Depreciation and amortization	8.9			7.6			27.5	22.8
Equity method income	(1.7)			(1.8)			(2.6)	(3.2)
Stock-based compensation	1.5			1.2			4.5	3.2
Losses on asset impairment, disposals and sales, net of insurance recoveries	3.4			0.4			3.8	1.2
Farming costs for nonproductive orchards	0.5			0.5			1.3	1.3
Recognition of deferred ERP costs	0.5			0.6			1.6	1.7
Severance	0			0			1.3	0
Legal settlement	0			0			0.2	0
Transaction costs	0			0			0	0.3
Amortization of inventory adjustment recognized from business combination	0			0			0	0.7
Other (income) expense, net	(1.3)			1.1			(1.3)	1.3
Noncontrolling interest	(0.1)			(0.1)			(6.4)	0.2
Certain Blueberry Plans
Segment Reporting Information [Line Items]
Depreciation and amortization			$ 4.1
Moruga
Segment Reporting Information [Line Items]
Depreciation and amortization	0.2			0.1			3.5	1.8
Operating segment
Segment Reporting Information [Line Items]
Total adjusted EBITDA	31.5			21.2			70.9	31.1
Operating segment | Marketing and Distribution
Segment Reporting Information [Line Items]
Total adjusted EBITDA	26.8			16.1			59.5	29.3
Operating segment | International Farming
Segment Reporting Information [Line Items]
Total adjusted EBITDA	4.6			4.9			1.9	2
Operating segment | Blueberries
Segment Reporting Information [Line Items]
Total adjusted EBITDA	$ 0.1			$ 0.2			$ 9.5	$ (0.2)