Calavo Growers Stock Price, News & Analysis

Calavo Growers, Inc. (Nasdaq: CVGW) announced that it will hold its 2023 annual shareholder meeting virtually on April 26, 2023, at 1:00 p.m. Pacific Time. Shareholders of record as of February 27, 2023, can participate, submit questions, and vote via a virtual platform using a control number from proxy materials. While non-shareholders can attend as guests, they will not have voting rights. Notably, cumulative voting for directors will not be facilitated through the webcast; instead, shareholders must submit proxy instructions in advance. The company is urging all shareholders to vote and read the proxy statement carefully, maintaining that all information remains unchanged except for specific details disclosed in this announcement.

Calavo Growers, Inc. (Nasdaq: CVGW) has announced a quarterly cash dividend of $0.10 per share, which will be distributed on April 6, 2023, to shareholders of record as of March 24, 2023. As a leader in the avocado industry and provider of fresh food products, Calavo offers a range of produce including avocados, tomatoes, and papayas while emphasizing sustainability and innovation. The company has been operating since 1924 and sells its products under its trusted brand as well as private labels.

Calavo Growers, a leader in the avocado industry, announced the return of Lee E. Cole as President and CEO, effective immediately. Cole, who previously led the company from 1999 to 2020, aims to enhance growth and create shareholder value during his three-year tenure. He succeeds Brian W. Kocher, who has stepped down. Cole's extensive experience in the avocado sector positions him as a strong asset for Calavo, which specializes in avocados and other fresh produce. The announcement reflects confidence in Cole's ability to guide the company forward.

Calavo Growers, Inc. (CVGW) reported a significant 18% decline in total revenue, totaling $226.2 million for the fiscal first quarter ended January 31, 2023. The Grown segment revenue fell 27% to $117.7 million, while the Prepared segment decreased by 3% to $108.5 million. Despite a net loss of $(3.1) million (or $(0.17) per diluted share), this was an improvement from a net loss of $(4.0) million last year. Management has adjusted its fiscal year EBITDA guidance to between $40 million and $45 million due to ongoing market conditions. The company plans to reset its dividend to $0.10 per share for Q2 2023.

Calavo Growers, Inc. (Nasdaq: CVGW) will announce its fiscal first-quarter financial results for the period ending January 31, 2023, after market close on March 6, 2023. A conference call for analysts and investors will follow at 5:00 p.m. ET, where the company will discuss the results. Interested parties can participate via a live call or by accessing the archived version on Calavo’s investor relations website. Calavo, headquartered in Santa Paula, California, is a leader in fresh produce, known for avocados and prepared foods, with a history rooted in innovation and sustainable practices since 1924.

Calavo Growers (CVGW) reported its financial results for Q4 and FY 2022, showing an 11% drop in total revenue to $243.6 million. The Grown segment revenue fell by 20% to $119.1 million, while the Prepared segment grew by 0.6% to $125.0 million. Gross profit increased significantly to $20.4 million, up from $9.1 million. The company incurred a net loss of $(3.3) million, improving from $(13.0) million in the prior year. Adjusted net income reached $0.6 million, compared to an adjusted loss of $(1.4) million last year. For FY 2022, revenue totaled $1.2 billion, a rise from $1.1 billion in FY 2021.

Calavo Growers, Inc. (Nasdaq: CVGW) will release its financial results for the fiscal fourth quarter ended October 31, 2022, on December 20, 2022, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results. Investors can join the call using the phone numbers provided or through an audio webcast available on Calavo's investor relations website. Established in 1924, Calavo is recognized for its quality produce, including avocados and prepared foods, serving various sectors globally.

Calavo Growers, Inc. (Nasdaq: CVGW) announced participation in the Stephens Annual Investment Conference on Nov. 17, 2022. President and CEO Brian Kocher, along with CFO Shawn Munsell, will engage in a fireside chat at 9 a.m. ET, which will be available for viewing online. The executives will also partake in one-on-one and small group meetings throughout the day. Calavo, founded in 1924, is a leader in produce, notably avocados, and emphasizes innovation and sustainability in its operations.