The raised Calavo synergy target and reaffirmed guidance provide near-term earnings visibility, while the 2035 ambition sets a long-term growth narrative. Watch for Q4 FY2026 results to validate the synergy ramp and margin trajectory; any deviation from the $30M+ synergy target would be a negative signal.
Price Chart
Executive Summary
Mission Produce held its 2026 Investor Day, unveiling a 2035 ambition to double sales to $4 billion and triple Adjusted EBITDA to $450 million, alongside five-year targets of mid-single-digit organic sales growth and ~300 bps margin expansion. The company reaffirmed its H2 FY2026 Adjusted EBITDA guidance of $84-88 million and increased its Calavo synergy target to $30M+. The filing also disclosed Q4-to-date share repurchases of 290,994 shares at an average price of $12.94.
Key Facts
- 2035 ambition: $4 billion sales, $450 million Adjusted EBITDA
- Five-year targets: mid-single-digit organic sales growth, ~300 bps margin expansion, >90% free cash flow conversion, net leverage <1.5x
- Calavo synergy target raised to $30M+ (from $25M), full run-rate within 18 months
- Reaffirmed H2 FY2026 Adjusted EBITDA guidance: $84-88M; Q4: $52-55M
- Mission Peru H2 exportable volume: 120-130M lbs; Q4: 67-77M lbs
- Q4-to-date repurchased 290,994 shares at avg $12.94 under $100M buyback authorization
- Pro forma FY2025 net sales: $2.0 billion (including Calavo)
- Historical Adjusted EBITDA: FY2025 $110.8M, FY2024 $107.8M
- Net leverage: 0.3x at FY2025; estimated 2.7x at FY2026E (post-Calavo acquisition)
Financial Impact
Long-term ambition to double revenue to $4B and triple EBITDA to $450M by 2035; near-term guidance reaffirmed with H2 EBITDA of $84-88M
Risk Factors
- Integration risk: Calavo synergies may take longer or cost more to achieve
- Commodity price and supply volatility in avocado markets
- Elevated net leverage (est. 2.7x at FY2026E) limits financial flexibility
- Execution risk on 2035 targets, which are aspirational and not guidance
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001802974-26-000046 |
| Document: avo-20261008.htm | 0001802974-26-000046 |
| Document: investordaypr.htm | 0001802974-26-000046 |
| Document: 0001802974-26-000046-index-headers.html | 0001802974-26-000046 |
| Document: 0001802974-26-000046-index.html | 0001802974-26-000046 |
| Document: 0001802974-26-000046.txt | 0001802974-26-000046 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 8-K | $11.79 $12.08 | ▲ +2.46% | ▲ +2.74% | $11.84 (+0.42%) |
Aug 16, 2026 10w ago | Institutional Cluster | $12.95 $13.13 | ▲ +1.39% | ▲ +2.58% | $11.84 (−8.57%) |
Jul 8, 2026 15w ago | Insider Buy | $13.35 $13.70 | ▲ +2.62% | ▲ +2.75% | $11.84 (−11.31%) |
Jul 8, 2026 15w ago | Insider Cluster | $13.35 $13.70 | ▲ +2.62% | ▲ +2.75% | $11.84 (−11.31%) |
Jul 8, 2026 15w ago | Insider Cluster | $13.35 $13.70 | ▲ +2.62% | ▲ +2.75% | $11.84 (−11.31%) |
Jun 29, 2026 16w ago | Insider Cluster | $11.79 $13.29 | ▲ +12.72% | ▲ +12.12% | $11.84 (+0.42%) |
Jun 17, 2026 18w ago | Insider Cluster | $11.49 $11.85 | ▲ +3.13% | ▲ +4.80% | $11.84 (+3.05%) |
Jun 15, 2026 18w ago | Insider Cluster | $11.58 $11.71 | ▲ +1.12% | ▲ +3.35% | $11.84 (+2.25%) |
Jun 8, 2026 19w ago | 8-K | $10.87 $11.18 | ▼ −2.85% | ▼ −0.44% | $11.84 (−8.92%) |
May 29, 2026 21w ago | 3 | $10.89 $10.22 | ▼ −6.15% | ▼ −3.40% | $11.84 (+8.72%) |
US Market Status
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