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Wrapping up Q3 earnings, we look at the numbers and key takeaways for the perishable food stocks, including Mission Produce and its peers.

The perishable food industry is diverse, encompassing large-scale producers and distributors to specialty and artisanal brands. These companies sell produce, dairy products, meats, and baked goods and have become integral to serving modern American consumers who prioritize freshness, quality, and nutritional value. Investing in perishable food stocks presents both opportunities and challenges. While the perishable nature of products can introduce risks related to supply chain management and shelf life, it also creates a constant demand driven by the necessity for fresh food. Companies that can efficiently manage inventory, distribution, and quality control are well-positioned to thrive in this competitive market. Navigating the perishable food industry requires adherence to strict food safety standards, regulations, and labeling requirements.

The 12 perishable food stocks we track reported a satisfactory Q3. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 3.2% on average since the latest earnings results.

Best Q3: Mission Produce

Founded in 1983 in California, Mission Produce grows, packages, and distributes avocados.

Mission Produce reported revenues of $319 million, down 10% year on year. This print exceeded analysts’ expectations by 8.5%. Overall, it was an incredible quarter for the company with a solid beat of analysts’ gross margin estimates and an impressive beat of analysts’ EBITDA estimates.

Steve Barnard, CEO of Mission, stated, “Fiscal 2025 was a defining year for Mission Produce. We achieved record revenue of $1.39 billion, growing 13% on top of a strong 2024 driven by avocado volume growth of 7% through our Marketing & Distribution segment, and delivered record adjusted EBITDA in the fourth quarter. These results reflect the power of our integrated global platform and the exceptional execution of our team. Throughout the year, our connected commercial organization demonstrated remarkable agility—pivoting to capitalize on market opportunities across North America, Europe, and Asia—each of which experienced growth for the quarter and full year. We were able to optimize our owned Peruvian production across customers and markets in a balanced fashion that drove category penetration and deepened key customer relationships. Whether navigating pricing dynamics or managing supply across regions, our team leveraged the full breadth of our capabilities to drive volume growth and optimize per-unit margins. Combined with our company-wide effort to enhance collaboration, data-driven decision making, and disciplined execution, I'm confident Mission is well positioned to continue growing share through expanding our presence in the years ahead.”

Mission Produce scored the biggest analyst estimates beat of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 6.1% since reporting and currently trades at $12.33.

Tyson Foods

Started as a simple trucking business, Tyson Foods is one of the world’s largest producers of chicken, beef, and pork.

Tyson Foods reported revenues of $13.86 billion, up 2.2% year on year, falling short of analysts’ expectations by 1.1%. However, the business still had a very strong quarter with a solid beat of analysts’ EBITDA and EPS estimates.

The market seems happy with the results as the stock is up 15.6% since reporting. It currently trades at $60.66.

Slowest Q3: Calavo

A trailblazer in the avocado industry, Calavo Growers is a pioneering California-based provider of high-quality avocados and other fresh food products.

Calavo reported revenues of $124.7 million, down 26.6% year on year, falling short of analysts’ expectations by 15.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Calavo delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 14.6% since the results and currently trades at $25.89.

Read our full analysis of Calavo’s results here.

Cal-Maine

Known for brands such as Egg-Land’s Best and Land O’ Lakes, Cal-Maine produces, packages, and distributes eggs.

Cal-Maine reported revenues of $769.5 million, down 19.4% year on year. This number missed analysts’ expectations by 3.2%. Aside from that, it was a strong quarter as it produced an impressive beat of analysts’ gross margin estimates and a solid beat of analysts’ EBITDA estimates.

The stock is down 2.4% since reporting and currently trades at $77.18.

Read our full, actionable report on Cal-Maine here, it’s free.

Flowers Foods

With Wonder Bread as its premier brand, Flower Foods is a packaged foods company that focuses on bakery products such as breads, buns, and cakes.

Flowers Foods reported revenues of $1.23 billion, up 3% year on year. This print was in line with analysts’ expectations. More broadly, it was a slower quarter as it produced a miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income estimates.

The stock is down 5% since reporting and currently trades at $11.07.

Read our full, actionable report on Flowers Foods here, it’s free.