Mission Produce revenue rises 26% to US$450 million in Q3

Mission Produce reported third-quarter revenue of US$450 million for fiscal 2026, representing a 26% increase compared to the same period last year. The growth was driven by a 38% rise in avocado volumes, aided by the integration of the Calavo acquisition and increased supply from Mexico due to higher yields.

Despite the revenue growth, the company recorded a net loss of US$6.5 million, or US$0.08 per diluted share. This loss includes US$25.4 million in pre-tax costs associated with the Calavo acquisition. This compares to a net income of US$14.7 million in the prior-year period. The company noted that lower average avocado sales prices, resulting from higher global supply, contributed to the financial results.

Other segment performances included Marketing & Distribution sales reaching US$414.3 million, while Prepared Foods generated US$15.5 million in sales with an operating loss of US$4.1 million. Blueberry sales rose to US$5.4 million, up from US$4.5 million the previous year.