secwatch.observer — SEC 8-K summary
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Issuer:     CALAVO GROWERS INC (CVGW)
CIK:        0001133470
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001558370-24-002908
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133470/000155837024002908/0001558370-24-002908-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133470/000155837024002908/cvgw-20240311x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-002908

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