Calavo delays 10-K due to internal probe; FY2023 revenue down 18%; explores Fresh Cut sale

CALAVO GROWERS INC

Net sales fell ~18% to $972M for FY2023; gross profit margin modestly lower.
Special Committee investigating Mexico operations; 10-K delayed up to 15 days.
Signed non-binding LOI to sell Fresh Cut business to F&S Fresh Foods for ~$100M.
Sale expected to close in Q2 2024; proceeds for debt reduction and core growth.
Board declared $0.10/share dividend payable Jan 31 to record Jan 26.

item 2.02 item 7.01 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 for the year ended October 31, 2023 results: revenue $972 million.

Period: for the year ended October 31, 2023
Revenue: $972 million
Result: preliminary results

Exact text from the filing

The Company expects to report in the Form 10-K that net sales decreased approximately 18% to $972 million for the year ended October 31, 2023, compared to the year ended October 31, 2022

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Source: SEC EDGAR

accession 0001558370-24-000321

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