Mission Produce sets five-year growth targets at investor day

Mission Produce, Inc. (NASDAQ: AVO) outlined a five-year financial plan at its 2026 Investor Day in New York City, targeting mid-single-digit organic sales growth and approximately 300 basis points of margin expansion, according to a press release from the company.

The Oxnard, California-based avocado supplier also introduced a longer-term ambition to double sales and triple Adjusted EBITDA by 2035. The company said its framework is designed to support high-single-digit to double-digit annual shareholder returns over time.

Mission's five-year plan includes four financial goals: mid-single-digit organic sales growth, 300 basis points of margin expansion, conversion of more than 90% of Adjusted Net Income into free cash flow, and reducing net leverage below 1.5 times Adjusted EBITDA. The company also has a $100 million share-repurchase authorization in place.

On the integration of Calavo Growers, Mission said it has pooled supply, closed the Temecula operation, and established its U.S. distribution footprint. The company raised its annualized synergy target from at least $25 million to more than $30 million, with the full run rate expected within 18 months of closing.

Mission reaffirmed its fiscal 2026 outlook, projecting second-half Adjusted EBITDA of $84 million to $88 million, including fourth-quarter Adjusted EBITDA of $52 million to $55 million. Peru exportable volume is projected at 120 million to 130 million pounds in the second half, with 67 million to 77 million pounds in the fourth quarter.

Chief Executive Officer John Pawlowski said the company's growth opportunity spans U.S. avocado, international markets, Prepared Foods, and mango. Chief Financial Officer Bryan Giles noted the company aims to grow earnings faster than sales and convert more earnings into cash to fund deleveraging and capital returns.

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