Mission Produce Reports Q3 2026 Revenue of $450 Million, Raises Calavo Synergy Outlook

On September 8, 2026, Mission Produce, Inc. announced its financial results for the fiscal third quarter ended July 31, 2026. The company reported total revenue of $450.0 million for the quarter, representing a 26% increase compared to the same period in the prior year. This growth was primarily driven by a 38% increase in avocado volume sold, partially offset by a 9% decrease in per-unit avocado sales prices. The volume increase was attributed to the integration of the acquired Calavo operation and higher yields from Mexican avocado supply.

Despite the revenue growth, the company reported a net loss attributable to Mission Produce of $6.5 million, or $(0.08) per diluted share. This compares to net income of $14.7 million, or $0.21 per diluted share, in the prior year. The loss was largely driven by Calavo acquisition-related costs of $25.4 million on a pre-tax basis. Excluding these costs, adjusted net income was $15.0 million, or $0.18 per diluted share. Adjusted EBITDA for the quarter was $32.4 million.

During the quarter, Mission Produce raised its estimated annualized synergy opportunity from its acquisition of Calavo Growers, Inc. to more than $30 million. The company completed the acquisition of Calavo on May 28, 2026, issuing 17,530,762 shares of common stock and paying approximately $267 million in cash. The combined entity is positioned to enhance Mission’s presence in the North American avocado category and expand into the prepared foods sector.

Regarding the balance sheet, cash and cash equivalents stood at $47.1 million as of July 31, 2026, down from $64.8 million at the end of the prior fiscal year. The company noted that operating cash flows are seasonal and that working capital growth, driven by higher inventory and receivables, impacted cash flow in the current period. For the nine months ended July 31, 2026, capital expenditures totaled $32.0 million.

Looking ahead, Mission Produce reaffirmed its fiscal second-half 2026 Adjusted EBITDA outlook of $84 million to $88 million. The company expects fourth-quarter Adjusted EBITDA of approximately $52 million to $55 million, including a full quarter of Calavo results. The company also provided industry outlooks for the fourth quarter, projecting avocado industry volumes to increase by approximately 10% and pricing to be lower by about 10% compared to the prior year.