AVO

EX-99.1

2 exh991avoq22026earningsrel.htm

EX-99.1

Document

EXHIBIT 99.1

Mission Produce® Announces Fiscal 2026 Second Quarter Financial Results

Acquisition of Calavo Growers completed May 28, 2026

Board of Directors authorize new share repurchase program for up to $100 million of shares over next 3 years

OXNARD, Calif.—June 8, 2026—(GLOBE NEWSWIRE) Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or “the Company”) a world leader in sourcing, producing, and distributing fresh Hass avocados, today reported its financial results for the fiscal second quarter ended April 30, 2026.

Fiscal Second Quarter 2026 Financial Overview:

•Total revenue of $290.9 million and achieved volume growth of 15% compared to the same period last year

•Net loss attributable to Mission Produce of $7.2 million, or $(0.10) per diluted share, compared to income of $3.1 million, or $0.04 per diluted share for the same period last year

•Adjusted net income was $0.8 million or $0.01 per diluted share, which excludes the impact of transaction advisory costs of $6.4 million on a pretax basis or $0.07 on a per share after-tax basis, as compared to $8.7 million, or $0.12 per diluted share, for the same period last year

•Adjusted EBITDA was $7.1 million, reflecting lower per-unit margins primarily driven by historically low prices and a temporary mismatch in supply and demand for core fruit sizes

CEO Message

John Pawlowski, President and CEO of Mission, stated, “This quarter was shaped by high volumes, low prices, strong execution by our sales and operations teams, and unfortunately, margin compression concentrated in April. Despite the low-price environment, we maintained manageable margins through most of the quarter until the Mexican supply of core fruit sizes fell out of line with customer demand in the final weeks. Delays in the California and Peru harvests increased sourcing costs to fill the gaps and pressured margins. Importantly, supply conditions have improved, pricing and margins are recovering, and we expect to deliver solid performance in the back half of the year.

“Importantly, second quarter’s temporary low-price market helped lay the foundation for more durable category growth longer term. U.S. avocado consumption and household penetration reached record highs, with per-capita consumption up double-digits from last year and more than 1.6 million new households entering the category. As we’ve seen in the past, dynamics like these create a larger and more durable demand base, and as a category leader, Mission is positioned to capitalize on these trends going forward.

“Finally, we have recently entered a new chapter for Mission. In just the last two months we completed our CEO succession, consummated the acquisition of Calavo, drove meaningful share gains in our core business, and sharpened our capital allocation priorities that we expect will drive disciplined growth, margin expansion, and returns. We see meaningful opportunity to improve asset utilization, strengthen mix, and convert our category leadership into higher earnings power over time. We are aligned on our agenda and focused on executing it with discipline. We look forward to sharing more about our next chapter at our Investor Day coming up very shortly in the Fall.”

Fiscal Second Quarter 2026 Consolidated Financial Review

Total revenue for the second quarter of fiscal 2026 decreased 24% to $290.9 million compared to the same period last year. The decrease was primarily driven by a 36% decrease in per-unit avocado sales prices, partially offset by a 15% increase in avocado volume sold. Volume and price movements in the Marketing and Distribution segment were driven by a robust Mexican avocado supply due to higher yields in the current year.

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EXHIBIT 99.1

Gross profit was $20.5 million in the second quarter of fiscal 2026, compared to $28.4 million in the prior year, while gross margin decreased 50 basis points compared to the same period last year, to 7.0% of revenue. Gross profit in the Marketing & Distribution segment was lower primarily due to historically low prices and a mismatch in supply and demand for core fruit sizes in April, which further pressured per-unit margins. Gross profit was also lower in our International Farming segment due to reduced volume of blueberry packing and storage services resulting from lower harvest volumes combined with higher per-unit mango production costs.

Selling, general and administrative expense (“SG&A”) (which does not include transaction advisory costs) for the second quarter were flat compared to the same period last year. Transaction advisory costs were $6.4 million for the second quarter this year and were comprised of third-party legal, diligence, and other costs associated with the Calavo acquisition, which was completed on May 28, 2026.

Net loss attributable to Mission Produce for the second quarter of fiscal 2026 was $(7.2) million, or $(0.10) per diluted share. This compares to income of $3.1 millio

avo-202603120001802974FALSEMarch 12, 202600018029742026-03-122026-03-120001802974us-gaap:CommonStockMember2026-03-122026-03-120001802974us-gaap:SeriesAPreferredStockMember2026-03-122026-03-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 12, 2026

MISSION PRODUCE, INC.

(Exact name of Registrant as specified in its charter)

Delaware001-3956195-3847744 (State or Other Jurisdiction of Incorporation or Organization) (Commission file number) (IRS Employer Identification No.)

2710 Camino Del Sol, Oxnard, CA 93030 (Address of Principal Executive Offices) (Zip code)

Registrant’s telephone number, including area code: (805) 981-3650

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.001 per shareAVONASDAQ Global Select Market Series A Junior Participating Preferred Stock, par value $0.001 per share

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 2.02     Results of Operations and Financial Condition On March 12, 2026, Mission Produce, Inc. (the “Company”) announced its financial results for the quarter ended January 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Item 2.02, including the related information set forth in the press release attached hereto as Exhibit 99.1 and incorporated by reference herein, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise. The information in this Item 2.02 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.

Item 9.01     Financial Statements and Exhibits

(d) Exhibits

Exhibit No.Description 99.1Press release dated March 12, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MISSION PRODUCE, INC.

/s/ Stephen J. Barnard Stephen J. Barnard

Chief Executive Officer

Date: March 12, 2026

avo-202512180001802974FALSEDecember 18, 2025December 18, 202500018029742025-12-182025-12-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 18, 2025

MISSION PRODUCE, INC.

(Exact name of Registrant as specified in its charter)

Delaware001-3956195-3847744 (State or Other Jurisdiction of Incorporation or Organization) (Commission file number) (IRS Employer Identification No.)

2710 Camino Del Sol, Oxnard, CA 93030 (Address of Principal Executive Offices) (Zip code)

Registrant’s telephone number, including area code: (805) 981-3650

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.001 per shareAVONASDAQ Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 2.02     Results of Operations and Financial Condition On December 18, 2025, Mission Produce, Inc. (the “Company”) announced its financial results for the quarter and year ended October 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Item 2.02, including the related information set forth in the press release attached hereto as Exhibit 99.1 and incorporated by reference herein, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise. The information in this Item 2.02 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing. Item 7.01    Regulation FD Disclosure Also on December 18, 2025, the Company posted supplemental earnings material to its website, which can be accessed at www.missionproduce.com. Copies of this document is attached as Exhibit 99.2 to this Current Report on Form 8-K. The information contained in this Item 7.01, including the related information set forth in this material attached hereto as an exhibit and incorporated by reference herein, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.

Item 9.01     Financial Statements and Exhibits

(d) Exhibits

Exhibit No.Description 99.1Press release dated September 8, 2025

99.2Supplemental earnings materials

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MISSION PRODUCE, INC.

/s/ Stephen J. Barnard Stephen J. Barnard

Chief Executive Officer

Date: December 18, 2025