Mission Produce Q3 revenue beats estimates on avocado volume growth; results boosted by Calavo acquisition

Mission Produce

08/09/2026 21:17

Overview
U.S. avocado supplier's fiscal Q3 revenue grew 26% yr/yr, beating analyst expectations
Adjusted EPS and adjusted net income for fiscal Q3 beat analyst expectations
Company raised annualized Calavo synergy outlook to more than $30 mln

Outlook
Company expects Q4 avocado industry volumes to rise about 10% versus prior year
Pricing in Q4 expected to be about 10% lower than prior year due to higher supply
Mission Produce reaffirms H2 2026 adjusted EBITDA outlook of $84 mln to $88 mln

Result Drivers
AVOCADO VOLUME GROWTH - Revenue increase was driven by a 38% rise in avocado volumes, mainly from Calavo integration and higher Mexican supply
LOWER AVOCADO PRICES - Higher global supply led to a 9% decrease in per-unit avocado sales prices, partially offsetting volume gains
TARIFF REFUNDS - Blueberries segment operating income benefited from one-time IEEPA tariff refunds

Company press release: ID:nGNX1r90qr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$450 mln
$367.48 mln (4 Analysts)
Q3 Adjusted EPS
Beat
$0.18
$0.12 (4 Analysts)
Q3 Loss Per Share
 
$0.08
 
Q3 Adjusted Net Income
Beat
$15 mln
$13.07 mln (3 Analysts)
Q3 Net Loss
 
$6.5 mln
 
Q3 Adjusted EBITDA
Beat
$32.40 mln
$29.45 mln (4 Analysts)
Q3 Gross Profit
 
$44.70 mln
 
Q3 Pretax Loss
 
$5.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the fishing & farming peer group is "buy"
Wall Street's median 12-month price target for Mission Produce Inc is $16.50, about 30.1% above its September 4 closing price of $12.68
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)