Mission Produce Exceeds Expectations with Strong Third Quarter Results
Mission Produce, a leading producer and distributor of avocados, recently announced its third quarter 2026 results, exceeding expectations in terms of adjusted EBITDA. The company's performance was driven by solid marketing and distribution efforts, stronger-than-forecast results from its international farming team, and early progress on the integration of Calavo.
According to John Pawlowski, President and Chief Executive Officer, the third quarter was an extremely important period for Mission Produce as it marked the first reporting period following the completion of the acquisition. The results provided an early look at the capabilities of the combined organization, reinforcing the company's confidence in the strategic and financial merits of the combination.
The avocado category continues to experience strong consumer demand, with U.S. retail volume growing approximately 9% year-over-year despite a 15% sequential increase in average retail price. This trend is consistent with historical patterns where lower prices expand the consumer base and support sustained demand as pricing normalizes.
Mission Produce's results reflect its position as a key player in the avocado category, with U.S. retail market share increasing by approximately 60 basis points from last year. The company attributes this growth to deeper customer relationships and its ability to reliably support programs through changing supply conditions.
The integration of Calavo has also contributed to Mission Produce's strong performance, with the combined entity selling approximately 253 million pounds of avocados during the quarter, a 38% increase from last year. This represents a significant expansion in origin mix, supporting customer continuity and a sequential recovery in per unit margins.
The company's focus on translating category tailwinds into profitable growth is reflected in its commitment to maintaining commercial discipline while deepening category leadership. With adjusted EBITDA of $32.4 million exceeding expectations, Mission Produce demonstrates its ability to execute on its strategic vision and drive long-term value for shareholders.
