Mission Produce is heading into the second half of fiscal 2026 with its Peruvian operations poised to become a more meaningful earnings contributor, as the company projects an all-time-high 120-130 million pounds of exportable avocados from its Peru farms, up from 105 million pounds in the 2025 harvest season. Management expects the larger crop, roughly 20% higher year over year, to improve its sourcing mix and support profitability, particularly in the fourth quarter when a greater portion of owned-fruit sales will be realized. The shift in supply from Mexico toward Peru and California is expected to allow better utilization of its multi-region sourcing network, supporting a meaningful improvement in per-unit margins during the back half. While third-quarter avocado prices are expected to decline about 15% year over year due to greater industry supply, Mission forecasts consolidated second-half adjusted EBITDA of $84-$88 million, with stronger Peru contributions among the factors supporting the expected rebound. Shares of Mission Produce have gained 25.4% in the last three months, and the company trades at a forward price-to-earnings ratio of 18.32X, above the industry average of 15.49X.
Mission Produce IncRecord Peru crop expected to boost second-half earnings and margins.
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