Calavo Growers Stock Price, News & Analysis

Calavo Growers (CVGW) reported a strong fiscal Q3 2022, with total revenue reaching $342.0 million, up 20% year-over-year. The Grown segment showed significant growth, with revenue rising 28% to $207.6 million, while the Prepared segment increased 9% to $134.9 million. Gross profit improved to $18.5 million or 5.4% of revenue, compared to $7.9 million a year ago. Net income stood at $1.3 million, a turnaround from a loss of $(13.0) million in Q3 2021. The company reduced debt by $16.3 million and implemented several strategic leadership changes.

Calavo Growers (Nasdaq: CVGW) has announced the official certification and opening of a new avocado packing facility in Jalisco, Mexico, aimed at enhancing supply for the American market. This facility will allow the company to expand its sourcing capabilities, providing high-quality avocados year-round, with a focus on holiday programs. The operation is part of Calavo's strategy to strengthen its relationships with growers and ensure sustainable practices. With nearly 100 years in the avocado industry, Calavo is positioned to meet increasing consumer demand.

Calavo Growers, Inc. (Nasdaq: CVGW) has appointed Helen Kurtz as Senior Vice President & General Manager of its Prepared segment, effective August 16, 2022. Kurtz brings over 25 years of experience, previously serving at General Mills and Foster Farms. This restructuring into Grown and Prepared segments aims to enhance product fulfillment and P&L management. Kurtz's expertise in operational and marketing strategies is expected to drive growth in Calavo's prepared foods segment, which includes fresh cut fruits, salads, and guacamole.

Calavo Growers, Inc. (Nasdaq: CVGW), a leader in the avocado and fresh food industries, will announce its fiscal third quarter financial results for the period ending July 31, 2022, on September 1, 2022, after market close. An accompanying conference call for analysts and investors is slated for 5:00 p.m. ET the same day, where results will be discussed and questions answered. Calavo specializes in a variety of produce and operates globally, emphasizing innovation and sustainable practices since its founding in 1924.

Calavo Growers (Nasdaq: CVGW) announces the retirement of Robert Wedin after 49 years, appointing Danny Dumas as Senior VP & General Manager of Calavo Grown. Dumas brings over 30 years of experience, previously leading roles at Del Monte Fresh Produce and Courchesne Larose USA. The company will reorganize into Grown and Prepared segments, with Dumas managing the fresh produce segment starting July 11. Wedin will remain as an adviser through the transition. This leadership change aims to strengthen operations and align product management with profitability.

Calavo Growers (Nasdaq: CVGW) has appointed Shawn Munsell as Chief Financial Officer, effective June 20, 2022. Munsell brings over 20 years of finance experience, having previously served as Senior VP of Finance for Tyson Foods' chicken segment, with revenues of $14 billion in 2021. His background includes roles at CF Industries, enhancing his credentials. Both Munsell and Calavo’s CEO express excitement about the opportunity for operational improvements and growth during a crucial phase for the company.

Calavo Growers, Inc. (CVGW) reported its Q2 2022 financial results, showing total revenue of $331.4 million, a 20% increase year-over-year. The gross profit was $21.7 million (6.6% of revenue), down from $22.6 million (8.2% of revenue) a year prior. Notably, fresh segment revenue surged 30% to $211 million, driven by a 70% rise in avocado prices despite a 13% decline in volume. The net loss was $(0.2) million or $(0.01 per share, compared to net income of $8.8 million a year ago. Management remains optimistic about ongoing improvements from its Project Uno initiatives.

Calavo Growers, Inc. (Nasdaq: CVGW) has announced it will report its financial results for the second quarter, ending April 30, 2022, on June 2 after market close. An earnings conference call will follow at 5:00 p.m. ET to discuss these results. Calavo is a leader in the avocado and fresh food sectors, offering diverse produce such as avocados, tomatoes, and papayas. Established in 1924, the company emphasizes innovation and sustainability, serving a broad range of customers worldwide.

Tupperware Brands Corporation (NYSE: TUP) has appointed Mariela Matute as its new Chief Financial Officer, effective May 24, 2022. Matute brings over 20 years of finance expertise, having previously served as CFO of Calavo Growers (NASDAQ: CVGW) and Amazon Business. Her experience includes leading financial restructuring and modernization initiatives. CEO Miguel Fernandez expressed confidence in Matute's ability to support Tupperware's turnaround strategy, aiming to enhance revenue and market share while executing omnichannel business strategies.