Mission Produce reported $450 million in revenue for Q3 2026, up 26% year over year and 55% from the prior quarter, with the Calavo acquisition and strong Mexican supply driving a 38% jump in avocado volumes. However, per-unit avocado prices fell 9% year over year, compressing margins. Gross margin declined 270 basis points to 10% of revenue. The company posted a net loss of $6.5 million, which includes $25.4 million in pre-tax Calavo acquisition-related costs.
Adjusted EBITDA remained essentially flat at $32.4 million versus $32.6 million last year, and overall gross profit came in at $44.7 million versus $45.1 million in Q3 2025. The company cited solid Marketing & Distribution results and stronger-than-forecast contributions from International Farming. Mission also reported meaningful year-to-date U.S. retail market share growth for its legacy business.
With global avocado supply elevated and per-unit prices under pressure, this report signals that volume is available — but margin capture is getting harder across the category. Worth watching how pricing evolves in Q4 as Chilean volumes hit the market alongside continued Mexican supply.