Calavo Growers Stock Price, News & Analysis

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.

Calavo Growers, Inc. (CVGW) will release its financial results for Q2 ending April 30, 2020, on June 8, 2020, after market close. A conference call will follow at 5:00 p.m. ET for discussion with analysts and investors. Interested parties can join via phone or listen to the archived webcast on Calavo's investor relations website. Calavo, a leader in the avocado industry, offers a variety of fresh food products including fresh-cut fruits and vegetables, guacamole, and salsa, serving several retail and wholesale markets globally.

Calavo Growers has appointed Kevin Manion as the new Chief Financial Officer, bringing extensive financial leadership experience from top food companies. Manion's expertise is expected to support Calavo's long-term growth strategy amidst rising consumer demand for fresh food. He holds a BBA in accounting and is a certified professional in several fields. Calavo, a leader in the avocado industry, caters to various retail and food service sectors, selling under several brand names. The company aims to leverage Manion’s financial acumen to boost shareholder value.