Mission Produce’s fiscal third-quarter results show revenue climbing, but Calavo integration costs weigh on quarterly profitability
Avocado giant Mission Produce has released its results for the fiscal third quarter of the year (Q3), with revenue jumping 26 per cent but the bottom line taking a hit as a result of costs linked to its acquisition of Calavo.
Total revenue for the quarter climbed to US$450mn, primarily driven by an increase in avocado volume sold of 38 per cent, partially offset by a decrease in per-unit avocado sales prices of 9 per cent.
Volume increased from the integration of the acquired Calavo operation as well as the impact of increased Mexican avocado supply due to higher yields in the current year, Mission explained.
Gross profit was US$44.7mn compared to US$45.1mn in the prior year.
International Farming segment gross profit decreased due to lower average sales prices attributed to higher global supply of avocados in the current year.
Marketing and Distribution segment gross profit was higher due to the inclusion of Calavo’s post-acquisition results, which were reduced by the impact of purchase accounting adjustments.
In the Blueberries segment, gross profit improvement was driven by the one-time impact of IEEPA tariff refunds in the current year, the group noted.
Net loss attributable to Mission Produce was US$6.5mn, and includes Calavo acquisition-related pre-tax costs of US$25.4mn, down from a net income of US$14.7mn in 2025.
Mission’s adjusted net income was US$15mn, down from US$18.2mn, while adjusted EBITDA was relatively stable at US$32.4mn.
“Our third-quarter results demonstrate the strength of our business and the team’s continued focus on operational execution,” said John Pawlowski, president and CEO of Mission.
”Performance benefitted from solid results in Marketing & Distribution, stronger-than-forecast contributions from International Farming, and encouraging results from Calavo.
”We are also seeing the benefits of our commercial execution, with meaningful year-to-date US retail market share growth for the legacy Mission business, reflecting our ability to reliably support customer programs through dynamic supply conditions,” he outlined.
“Our early work with Calavo has reinforced our confidence in the strategic and financial merits of the combination.
“Looking ahead, our priorities remain straightforward: extend our marketplace momentum, execute consistently across our global network, integrate Calavo thoughtfully, and translate our expanded scale into stronger earnings and returns,” Pawlowski added.
”We believe the progress made this quarter provides a strong platform for Mission’s next phase of growth, which we’ll discuss further at Investor Day in October.”
