Overview
- Mission reported fiscal Q2 revenue of $290.9 million and a GAAP net loss attributable to the company of $7.2 million on Monday, with adjusted net income of $0.8 million and adjusted EBITDA of $7.1 million.
- Avocado volume rose about 15% while per‑unit prices fell roughly 36%, and management blamed April’s mismatch in Mexican fruit sizes plus delayed California and Peru harvests for sharp margin compression.
- Mission completed the acquisition of Calavo on May 28, issuing 17,530,823 shares and paying about $266 million in cash, leaving the combined company with roughly 88.3 million shares outstanding and about $350 million of term‑loan debt.
- The board approved a new $100 million repurchase program on June 3, and management guided third‑quarter adjusted EBITDA to $28–$32 million and second‑half adjusted EBITDA to $84–$88 million, a midpoint that investors focused on as the stock swung in volatile trading.
- Key near‑term risks and catalysts are the pace of Calavo integration and realization of an estimated $25 million in synergies starting in Q4, the timing of Peru farm contributions, and avocado size and supply trends that will determine whether the H2 earnings target is met and how the deal affects growers and consumer prices.