Mission Produce Stock Earnings Reports

Mission Produce reported fiscal Q2 2026 revenue of $290.9 million (down 24% YoY) driven by a 36% decline in per-unit avocado prices despite a 15% increase in avocado volumes sold. Gross profit fell to $20.5 million and adjusted EBITDA to $7.1 million, largely due to a temporary mismatch in fruit size supply during a large Mexican crop that pressured margins in April. Management emphasized the durability of demand—U.S. avocado consumption grew strong double digits in the quarter with ~1.6 million new households entering the category—and expects margins to recover as supply transitions from Mexico into California and Peru. Mission closed the Calavo acquisition on May 28th and expects at least $25 million of annualized cost synergies within 18 months, with initial synergy benefits beginning in Q4 and ramping into 2027. Combined-company third-quarter adjusted EBITDA guidance is $28–32 million; combined second-half adjusted EBITDA guidance is $84–88 million. Cash was $33 million at April 30; fiscal-year CapEx expected ~ $45 million. The Board expanded the share repurchase program. Management reiterated focus on integration, maintaining customer relationships through the supply disruption, and the long-term growth runway for avocados and prepared-foods (e.g., guacamole).