AVO
Mission Produce, Inc.12.99
+0.25+1.96%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A reaffirms, adds synergy details.
Q&A largely reaffirmed prepared remarks on Q1 volume gains and Calavo enthusiasm, but added color on $25 million synergies from operating footprints and duplicate costs, with growth upside left vague. Management pegged blueberry yield normalization at 12-18 months amid newer acreage maturation affecting 25% of 700 hectares. Capital returns rose in priority, potentially parallel to post-deal deleveraging—no specifics yet. Q2 per-unit margins to revert to historical levels amid Mexico-heavy supply and delayed California harvest. No surprises. Analysts got qualitative answers on guidance and allocation. Investors watch Calavo integration and fall Investor Day.
Key Stats
Market Cap
917.34MP/E (TTM)
23.62Basic EPS (TTM)
0.55Dividend Yield
0%Recent Filings
8-K
Mission Produce closes $550M facility
Mission Produce closed an amended $550M credit facility on April 1, 2026, with $200M revolving, $200M Term A-1 (maturing 2031), and $150M Term A-2 (maturing 2033). Drew $50M each from term loans initially; remainder funds Calavo Growers acquisition and refinancing. Rates tier by net leverage; covenants cap leverage at 3.50x, fix charge coverage at 1.25x. Debt secured by all assets.
8-K
Calavo deal advances
Mission Produce updated its investor presentation on March 20, 2026, for the ROTH Conference, highlighting its pending Calavo Growers acquisition announced January 14, with July 31 close expected. Pro forma net sales hit $2.0B, adjusted EBITDA $177M including $25M synergies within 18 months, scaling North American platform and adding prepared foods. Q1 FY26 adjusted EBITDA rose 5% to $18.5M despite 30% pricing drop. Integration risks loom.
8-K
Q1 results; Calavo deal advances
Mission Produce posted Q1 FY2026 revenue of $278.6M, down 17% from last year on 30% lower avocado prices despite 14% volume growth; net loss of $0.7M hit by $7M Calavo acquisition costs, yet Adjusted EBITDA rose 5% to $18.5M. Pending $490M Calavo deal, signed January 14, eyes Q3 close for supply boost and $25M synergies. Integration underway.
10-Q
Q1 FY2026 results
Mission Produce's Q1 FY2026 net sales fell 17% y/y to $278.6M on 30% lower avocado prices despite 14% higher volumes from Mexican supply gains, yet gross profit held flat at $31.6M with margins expanding to 11.3% from 9.4%. Operating income dropped to $2.5M from $9.3M as SG&A jumped 31% to $29.1M, driven by $7.0M Calavo merger advisory costs; net loss was $0.1M versus $6.2M income, with the operating-to-net gap due to $1.7M interest, $1.3M other expense, and $1.1M taxes. Cash fell to $44.8M amid $3.0M operating outflow and $11.9M capex, while long-term debt stood at $97.0M net (due October 2027-2029 at ~5.3%) under compliant covenants. Signed Calavo merger January 14, 2026 for ~$490M (cash/stock mix). Merger integration risks loom large.
8-K
Adopts poison pill vs. investor
Mission Produce adopted a one-year stockholder rights plan on January 21, 2026, triggered by Globalharvest Holdings Venture Ltd.'s stock accumulation. Rights distribute February 4 to common stockholders, triggering at 15% ownership with $63.00 exercise price for Series A Preferred fractions. Board can redeem at $0.01 per right. Defends against coercive takeovers without premium.
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