Mission Produce, Inc. (AVO) Q3 FY2026 earnings

Reported results

• Total revenue of $450.0 million, up 26% versus prior year period, driven by avocado volume growth of 38% partially offset by 9% decrease in per-unit avocado sales prices.
• GAAP net loss attributable to Mission Produce of $6.5 million, or $0.08 per diluted share, compared to income of $14.7 million, or $0.21 per diluted share, in the prior year period, including $25.4 million in pre-tax Calavo acquisition-related costs.
• Non-GAAP adjusted net income of $15.0 million, or $0.18 per diluted share, compared to $18.2 million, or $0.26 per diluted share, in the prior year period.
• Non-GAAP adjusted EBITDA of $32.4 million compared to $32.6 million in the prior year period.
• Gross profit of $44.7 million with gross margin of 9.9% of revenue, down 270 basis points versus prior year period.
• Management raised annualized Calavo synergy outlook to more than $30 million based on higher-than-anticipated SG&A savings and network efficiencies.

Guidance

• For fiscal Q4 2026: Avocado industry volumes expected to increase approximately 10% versus prior year period; exportable avocado production from Mission’s owned Peru farms expected to range between 120 million to 130 million pounds; pricing expected to be lower by approximately 10% year-over-year compared to the $1.39 per pound average in Q4 fiscal 2025.
• Reaffirming fiscal 2026 second-half non-GAAP adjusted EBITDA outlook of $84 million to $88 million.
• Expecting fiscal Q4 2026 non-GAAP adjusted EBITDA of approximately $52 million to $55 million, including a full quarter of Calavo.
• Full year fiscal 2026 total capital expenditures expected to be approximately $45 million, including planned expenditures related to legacy Calavo business.

Notes

Mission Produce completed its acquisition of Calavo Growers, Inc. on May 28, 2026, issuing 17,530,762 shares of common stock and paying approximately $267 million in cash. The company reported $26.0 million in transaction advisory and integration costs for the nine months ended July 31, 2026. Non-GAAP adjusted EBITDA guidance for the second half is reaffirmed; the company is not reasonably able to reconcile its outlook for adjusted EBITDA to net income due to unavailable information on anticipated stock-based compensation, derivative financial instruments impacts, foreign currency effects, and transaction costs.

Price and volatility reaction

The stock moved +4.3% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -18.6 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-08 (8-K, Item 2.02). Read the original filing on sec.gov.