Mission Produce (AVO) Misses Q3 EPS by 2c; offers outlook

Mission Produce (NASDAQ: AVO) reported Q3 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $450 million versus the consensus estimate of $280.73 million.

Outlook

For the fourth quarter of fiscal year 2026, the Company is providing the following industry outlook that will drive performance:

Avocado industry volumes in the fiscal 2026 fourth quarter are expected to increase by approximately 10% versus the prior year period. Exportable avocado production from Mission’s owned farms in Peru is expected to range between 120 million to 130 million pounds (as compared to 105 million pounds in the fiscal 2025 harvest season), of which approximately 53 million pounds were sold through as of the end of the fiscal third quarter.
Pricing is expected to be lower on a year-over-year basis by approximately 10% compared to the $1.39 per pound average experienced in the fourth quarter of fiscal 2025. The decrease in pricing is directly correlated with expectations of higher volumes available in U.S. and international markets.

In connection with the recently completed acquisition of Calavo, the Company is providing select guidance to assist investors in their analysis of the transaction. This disclosure is intended to support evaluation of the acquisition and should not be viewed as establishing an ongoing guidance practice.

The Company is reaffirming its fiscal second-half 2026 Adjusted EBITDA outlook of $84 million to $88 million. Based on third-quarter results, it expects fourth-quarter Adjusted EBITDA of approximately $52 million to $55 million, including a full quarter of Calavo, and supported by the later timing of sales from its Peru avocado harvest, increased blueberry volumes, and improved avocado margin dynamics.
For full year fiscal 2026, total capital expenditures are expected to be approximately $45 million, including planned expenditures related to the legacy Calavo business.

For earnings history and earnings-related data on Mission Produce (AVO) click here.

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