Mission Produce Reports Strong Q3 Earnings Exceeding Expectations
Mission Produce (AVO) reported third-quarter earnings for fiscal year 2026, with adjusted EBITDA reaching $32.4 million—surpassing the high end of management's expectations. The results were driven by strong performance in marketing and distribution, better-than-forecast outcomes from International Farming operations, and early progress on integrating Calavo following its acquisition. The company highlighted robust consumer demand for avocados as a key factor behind these results. U.S. retail avocado volume grew approximately 9% year-over-year despite an average price increase of about 15%. Consumption levels remain at record highs in 2026, with per capita consumption above 10 pounds and household penetration up by around 50 basis points compared to the previous year. The earnings call emphasized that this was Mission Produce's first reporting period after completing its acquisition of Calavo. The results reflect early confidence in the strategic benefits of combining both organizations.
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