Calavo Q4 net loss narrows to $3.3M; adjusted net income positive at $0.6M

CALAVO GROWERS INC

2022-FY EPS reported -$0.35 revenue$1,191,073,000

Total revenue $243.6M, down 11% YoY; Grown segment revenue fell 20% to $119.1M.
Gross profit improved to $20.4M from $9.1M; Prepared segment gross profit up $10.1M.
Net loss $(3.3)M ($0.19/sh) vs. $(13.0)M ($0.73/sh); adjusted net income $0.6M ($0.03/sh).
Adjusted EBITDA $9.6M ($0.55/sh) vs. $1.4M ($0.08/sh) a year ago.
Prepared segment recovery drove earnings improvement; Grown segment revenue declined.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CALAVO GROWERS INC reported fiscal fourth quarter ended October 31, 2022 results: revenue $243.6 million, net income $(3.3) million, EPS $(0.19) per diluted share.

Period: fiscal fourth quarter ended October 31, 2022
Revenue: $243.6 million
Net income: $(3.3) million
EPS: $(0.19) per diluted share
Result: reported results

Exact text from the filing

Fourth Quarter Financial Overview ● Total revenue of $243.6 million, an 11% decline from prior year o Grown segment revenue declined 20% year-over-year to $119.1 million o Prepared segment revenue increased 0.6% year-over-year to $125.0 million ● Gross profit of $20.4 million compared to $9.1 million for the year-ago quarter o Grown segment gross profit increased $1.1 million from prior year to $8.6 million o Prepared segment gross profit increased $10.1 million from prior year to $11.8 million ● Net loss of $(3.3) million, or $(0.19) per diluted share, compared to net loss of $(13.0) million, or $(0.73) per diluted share, for the same period last year

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Source: SEC EDGAR

accession 0001558370-22-018832

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