Calavo Growers Inc is a leading company in the fresh and processed avocado and other produce markets, focusing on the sourcing, ripening, packing, and distribution of high-quality avocados and related products
The company operates in multiple segments, including fresh avocado distribution, processed avocado products, and food service and retail distribution, establishing strong connections with growers and retailers. By prioritizing innovation and sustainability, Calavo Growers aims to meet the growing consumer demand for healthy and convenient food options while delivering excellent service and quality. Through its extensive supply chain network, the company is committed to providing fresh produce year-round, ensuring that customers have access to an array of nutritious offerings.
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Shares of fresh produce company Calavo Growers (NASDAQCVGW)
fell 9.4% in the morning session after the company reported underwhelming fourth quarter results. EBITDA missed significantly and its gross margin fell short of Wall Street's estimates. The company blamed both higher fruit costs as well as higher compensation expenses. On the other hand, revenue came in ahead of expectations, though sales declined in absolute terms relative to the previous year. Overall, this quarter could have been better.
Fresh produce company Calavo Growers (NASDAQCVGW) reported Q3 CY2024 results exceeding the market’s revenue expectations, but sales fell by 29.5% year on year to $170 million. Its non-GAAP profit of $0.05 per share was 83.1% below analysts’ consensus estimates.
Calavo trades at $28.29 per share and has stayed right on track with the overall market, gaining 9.5% over the last six months. At the same time, the S&P 500 has returned 14%.
Rich in antioxidants like Omega 3, magnesium, potassium, fiber and lutein and nutrients including vitamins A through E and K, the avocado is a superfood.
Calavo Growers shares are climbing after the company reported its third-quarter financial results after Monday's closing bell. Here's a look at the details from the report.
