secwatch.observer — SEC 8-K summary
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Issuer:     CALAVO GROWERS INC (CVGW)
CIK:        0001133470
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0001558370-24-000321
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133470/000155837024000321/0001558370-24-000321-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133470/000155837024000321/cvgw-20240116x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000321

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