On October 8, 2026, Mission Produce, Inc. (NASDAQ: AVO) announced its five-year financial targets and updated outlook during its 2026 Investor Day in New York City. The company outlined a strategy focused on leveraging its platform, including the integration of Calavo Growers and the expansion of higher-margin Prepared Foods.
The company’s five-year plan is built around four connected goals: mid-single-digit organic sales growth, approximately 300 basis points of margin expansion, converting more than 90% of Adjusted Net Income into free cash flow, and reducing net leverage below 1.5 times Adjusted EBITDA. Management stated these initiatives are expected to support high-single-digit organic Adjusted EBITDA growth over the period.
Regarding its long-term ambition, Mission Produce set a goal to double sales and triple Adjusted EBITDA by 2035. The company also reiterated its capital allocation priorities, which include investing in the core business, pursuing strategic mergers and acquisitions, and executing opportunistic share repurchases.
In terms of current performance, Mission Produce is advancing the integration of Calavo, having pooled supply and closed the Temecula operation. The company increased its annualized synergy target from at least $25 million to more than $30 million, expecting a small contribution in the fourth quarter of fiscal 2026 and the full run rate within 18 months.
The company reaffirmed its fiscal 2026 outlook for the second half, projecting Adjusted EBITDA of $84 million to $88 million. This includes a fourth-quarter Adjusted EBITDA forecast of $52 million to $55 million and Mission Peru exportable volume of 120 million to 130 million pounds for the second half, including 67 million to 77 million pounds in the fourth quarter.
Separately, the company reported that during the fiscal fourth quarter to-date, it repurchased 290,994 shares at an average price of $12.94. This activity occurred under a previously authorized $100 million stock repurchase program.
