Calavo Growers Stock Price, News & Analysis

Calavo Growers reported Q4 2020 revenue of $234.4 million, a 20% decrease year-over-year, attributed to a 22% drop in avocado prices despite a 3% increase in avocado volume. Gross profit for the quarter was $21.2 million, representing 9.0% of revenue. Net income rose to $6.2 million or $0.35 per diluted share, compared to $5.2 million last year. For fiscal year 2020, total revenue fell by 11% to $1.1 billion with a net loss of $13.6 million. The company declared a dividend increase of 4.5%, reflecting ongoing financial challenges amid the pandemic.

Calavo Growers, Inc. (CVGW), a leader in the avocado industry, will release its financial results for the fourth quarter ended October 31, 2020, on December 21, 2020, after market close. The company will hold a conference call at 5:00 p.m. ET to discuss the results. Investors can access the live and archived webcast on the investor relations website. Calavo offers a range of fresh food products, including avocados and prepared foods, under its well-known brands. Founded in 1924, the company serves various sectors, including retail and foodservice.

Calavo Growers, a leader in the avocado industry, announced participation in two upcoming virtual conferences in November 2020. CEO Jim Gibson and CFO Kevin Manion will present at the Jefferies West Coast Consumer Conference on November 17 at 12:20 pm ET and the Stephens Annual Investment Conference on November 18 at 11:00 am ET. Both sessions will feature a fireside chat, followed by virtual one-on-one meetings. Live broadcasts will be available on the company's website for those unable to attend.

Calavo Growers, Inc. (CVGW) has declared an annual cash dividend of $1.15 per share, to be paid on December 4, 2020, to shareholders of record by November 13, 2020. This marks the ninth consecutive increase in dividends, reflecting a 4.5% rise, showcasing the board's confidence in the company's long-term growth despite challenges posed by COVID-19. Calavo has consistently paid annual dividends since going public in 2002, increasing the total by 475% over that period.

Calavo Growers, a leader in the avocado industry, announced the appointment of Farha Aslam to its Board of Directors, effective January 3, 2021. Aslam, who has extensive experience in capital markets and the food sector, will also serve on the Audit committee. The company acknowledged the contributions of outgoing directors Egidio Carbone and Dorcas Thille as they will not seek re-election at the 2021 annual meeting. Following these changes, Calavo’s Board will consist of 12 directors, with seven qualifying as independent.

Calavo Growers (CVGW) announced executive promotions on August 13, 2020, enhancing its leadership team with Robert Wedin as Executive Vice President of Fresh Sales and Mark Lodge as Chief Operations Officer. Wedin, a long-time company member, brings extensive experience in sales and marketing, while Lodge, who joined in 2019, has a rich background in food service operations. These promotions aim to strengthen Calavo's market position and drive business growth as the company continues to provide fresh food products globally.

Calavo Growers, Inc. (Nasdaq-GS: CVGW) announced its upcoming third quarter financial results for the period ending July 31, 2020, to be released on September 8, 2020. A conference call will be held at 5:00 p.m. ET to discuss these results. The company operates in the avocado industry and provides value-added fresh food, with segments focusing on fresh produce and prepared foods. Calavo has a history of delivering quality products under its brands, including its Fresh segment for fresh avocados and the Renaissance Food Group for healthy prepared foods.

Calavo Growers, Inc. (CVGW) reported flat revenue of $281.2 million for Q2 2020, impacted by COVID-19, with a net loss of $3.3 million or $(0.19) per diluted share. Gross profit dropped to $22.1 million from $36.8 million a year prior. Adjusted net income fell to $7.0 million, or $0.40 per diluted share, compared to $16.5 million the previous year. The company acquired Simply Fresh Fruit, enhancing its food service presence. Despite challenges, the Fresh segment saw a 13% sales increase, with expectations of improvement as the economy reopens.