Mission Produce is working to convert its expanded avocado platform into more consistent earnings, but second-quarter fiscal 2026 results highlight ongoing margin pressure from price swings. Revenue fell 24% year over year to $290.9 million despite a 15% rise in avocado volumes, as per-unit avocado sales prices dropped 36% due to abundant Mexican supply. Adjusted EBITDA declined to $7.1 million from $19.1 million a year earlier, partly because the company had to pay higher spot-market prices for in-demand fruit sizes while discounting less popular ones. Management expects supply conditions and pricing to normalize in the second half of fiscal 2026, with consolidated adjusted EBITDA projected at $84–$88 million, supported by better avocado margins, higher blueberry yields, a full quarter of Calavo contribution, and early synergy benefits. The company also anticipates exportable avocado production from its owned Peru farms to reach 120–130 million pounds in fiscal 2026, up from 105 million pounds in the prior harvest season.
Mission Produce IncAvocado sales prices dropped 36% due to abundant Mexican supply, pressuring margins and causing revenue to fall 24% despite higher volumes.
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