Mission Produce Exceeds Q3 Earnings Guidance Amid Strong Avocado Volume and Calavo Integration
Mission Produce reported fiscal third-quarter adjusted EBITDA of $32.4 million, surpassing its guidance range of $28–$32 million. Revenue reached $450 million, up 26% year over year, driven by a significant increase in avocado volume and the integration of Calavo. Avocado production rose to approximately 253 million pounds (+38%), though average selling prices fell 9% due to higher industry supply. Despite strong performance, Mission posted a $6.5 million net loss attributable to acquisition-related costs, purchase accounting effects, and increased interest expenses from debt tied to the Calavo deal. The company raised its annualized synergy target for the Calavo integration to over $30 million (from at least $25 million), with initial benefits expected in Q4 and larger contributions anticipated by fiscal 2027. Mission reaffirmed its second-half adjusted EBITDA outlook of $84–$88 million, citing factors such as a stronger Peru avocado harvest, seasonal blueberry demand, full Calavo operations, and improving margins. As of July 31, the company’s debt stood at approximately $400.3 million.
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