Mission Produce Posts 38% Avocado Volume Jump as Margins Slip

Earnings

โดย Zacks Investment Research·

Summary · why it matters

Mission Produce reported a 38% year-over-year jump in avocado volumes in the third quarter of fiscal 2026, aided by Calavo and higher legacy Mission Produce volumes, while average per-unit avocado selling prices declined 9% and gross margin contracted 270 basis points to 9.9%. Adjusted EBITDA of $32.4 million exceeded management's guidance, and the company expects fourth-quarter adjusted EBITDA of $52-$55 million, supported by a greater contribution from its owned Peruvian crop, the seasonal blueberry ramp, a full quarter of Calavo and better avocado margin dynamics. Mission Produce also raised its annualized Calavo synergy target to more than $30 million from at least $25 million, with benefits beginning in the fourth quarter and building through fiscal 2027. U.S. retail avocado volume rose about 9% year over year despite a 15% sequential increase in retail prices. Shares of Mission Produce have gained 16.4% in the last three months compared with the industry's growth of 8.1%, and the stock carries a Zacks Rank #2 (Buy).