Mission Produce® Announces Fiscal 2026 Second Quarter Financial Results

§ 01 Executive Snapshot

• What: Mission Produce announced its financial results for Q2 fiscal 2026, including the completion of the Calavo Growers acquisition and a new share repurchase program.
• Who: Mission Produce, Inc. (NASDAQ: AVO), CEO John Pawlowski, Calavo Growers, Inc.
• Why it matters: The company is navigating financial challenges with a significant acquisition, aiming to enhance growth and shareholder value despite current market pressures.

§ 02 Key Developments

• Acquisition of Calavo Growers completed on May 28, 2026.
• Board authorized a new share repurchase program for up to $100 million over the next 3 years.
• Total revenue for Q2 2026 was $290.9 million, a 24% decrease year-over-year.
• Net loss for Q2 2026 was $7.2 million, compared to a profit of $3.1 million in the same period last year.
• Adjusted EBITDA for Q2 2026 was $7.1 million, down from $19.1 million in the prior year period.

§ 03 Strategic Context

• The acquisition of Calavo Growers is expected to strengthen Mission Produce's market position in the fresh produce sector, particularly in avocados and value-added products.
• The financial results reflect broader market dynamics, including low avocado prices and supply chain challenges affecting margins, highlighting the volatility in agricultural markets.

§ 04 Strategic Implications

• Immediate implications include potential market share gains and improved operational efficiencies through the integration of Calavo.
• Long-term, the company aims to leverage this acquisition for sustainable growth and enhanced profitability amid fluctuating market conditions.

§ 05 Risks & Constraints

• Potential risks include ongoing supply chain disruptions and pricing volatility in the avocado market, which could further impact margins.
• Integration challenges with Calavo Growers may pose execution risks, affecting operational performance in the near term.

§ 06 Watchlist / Forward Signals

• Key upcoming events include the Investor Day in Fall 2026, where management will outline future strategies and performance expectations.
• Monitoring the market response to the share repurchase program and its impact on stock performance will be critical to assess shareholder value creation initiatives.