Calavo Q3 net income rises to $6.6M despite 24% sales drop

CALAVO GROWERS INC

2023-Q3 EPS reported -$0.02 revenue$730,768,000

Net sales $259.9M (-24% YoY); Grown $144.5M (-30%), Prepared $115.8M (-14%).
Gross profit $25.0M vs $18.5M; Grown gross profit up $9.6M to $21.4M, Prepared down $3.1M.
Net income $6.6M ($0.37 diluted EPS) vs $1.3M ($0.07); adjusted net income $7.2M ($0.41) vs $2.9M ($0.16).
Adjusted EBITDA $13.8M compared to $8.1M in prior-year quarter.

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 0.9

CALAVO GROWERS INC reported the fiscal third quarter ended July 31, 2023 results: revenue $259.9 million, net income $6.6 million, EPS $0.37 per diluted share.

Period: the fiscal third quarter ended July 31, 2023
Revenue: $259.9 million
Net income: $6.6 million
EPS: $0.37 per diluted share
Result: reported results

Exact text from the filing

Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of convenient, ready-to-eat fresh food, today reported its financial results for the fiscal third quarter ended July 31, 2023. Third Quarter Financial Overview ● Total net sales of $259.9 million, a 24% decrease from the prior year quarter o Grown segment net sales decreased 30% to $144.5 million o Prepared segment net sales decreased 14% to $115.8 million ● Gross profit of $25.0 million, compared to $18.5 million for the prior year quarter o Grown segment gross profit increased $9.6 million to $21.4 million o Prepared segment gross profit decreased $3.1 million to $3.7 million ● Net income of $6.6 million, or $0.37 per diluted share, compared to $1.3 million, or $0.07 per diluted share, for the same period last year

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Source: SEC EDGAR

accession 0001558370-23-015510

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