Mission Produce Reports Strong Q3 Earnings, Exceeds Expectations
Mission Produce reported adjusted EBITDA of $32.4 million for the third quarter of 2026, surpassing expectations due to strong performance in International Farming and early progress from its acquisition of Calavo. The company observed durable demand shifts following historically low prices at the start of 2026 that expanded consumer base, maintaining retail volume growth even as prices rose by 15% sequentially. Mission Produce utilized a multi-origin sourcing model to balance fruit supply across Mexico, California, and Peru based on customer needs. The company increased its U.S. retail market share by approximately 60 basis points through stronger relationships and reliable supply during volatile conditions. Vertically integrated farming in Peru proved critical as the broader market saw production forecast revisions downward. The firm reaffirmed second-half adjusted EBITDA guidance of $84 to $88 million, with Q4 expected to contribute between $52 to $55 million due to seasonal harvests. Synergy targets were raised from $25 million to over $30 million as a result of higher-than-expected savings and network efficiencies post-acquisition.
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