Calavo Q1 net loss $0.15/sh; sales down 4%; fresh-cut sale expected Q2

CALAVO GROWERS INC

2024-Q1 EPS reported -$0.35 revenue$127,606,000

Revenue $127.6M, down 3.9% YoY; net loss $2.6M ($0.15 diluted) vs loss $0.7M ($0.04) last year.
Fresh cut business classified as discontinued ops; sale expected to close in fiscal Q2 2024.
Avocado volume down 18% but prices up 20%; tomato gross profit fell ~$1.1M on lower volume.
SG&A included $2.4M in professional fees for ongoing FCPA investigation; management targets $20M+ annualized savings.
Board declares $0.10/sh quarterly dividend payable Apr 29 to holders of record Apr 1.

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 first quarter ended January 31, 2024 results: revenue $127.6 million, net income Net loss of $2.6 million, or $0.15 per diluted share, EPS $(0.15) per diluted share.

Period: the fiscal first quarter ended January 31, 2024
Revenue: $127.6 million
Net income: Net loss of $2.6 million, or $0.15 per diluted share
EPS: $(0.15) per diluted share
Result: reported results

Exact text from the filing

unit as discontinued operations. Unless otherwise noted, amounts and commentary included in this press release relate to our continuing operations. ● Total net sales of $127.6 million, a 3.9% decrease from the prior year quarter o Grown segment net sales decreased 4.0% to $113.0 million o Prepared segment net sales decreased 2.9% to $14.6 million ● Gross

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Source: SEC EDGAR

accession 0001558370-24-002908

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