SANTA PAULA, Calif., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of value-added fresh food, today announced that its Board of Directors has elected Farha Aslam as its Chair effective immediately. "I am honored to serve as Chair of Calavo Growers, and I appreciate the opportunity to play an integral role in this 100-year-old company," Ms. Aslam said. "Calavo has a heritage of leadership in the avocado industry, and today it is capita ...

Exhibit 99.1 Calavo Growers, Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results SANTA PAULA, Calif., Jan. 14, 2025—Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of value-added fresh food, today reported its financial results for the fiscal fourth quarter and fiscal year ended October 31, 2024. Introductory Note: In the first quarter of 2024, we concluded that the Fresh Cut (formerly RFG) business met the requirements to be classified as held for sale ...

Calavo Growers, Inc. (CVGW) reported fourth-quarter fiscal 2024 results, with the top line surpassing the Zacks Consensus Estimate but the bottom line falling short of the same. Both metrics increased year over year.Calavo Growers is now focused on its core avocado and guacamole operations, following the divestiture of its Fresh Cut business. The company is prioritizing operational optimization, disciplined execution and capitalizing on organic growth opportunities to drive expansion. With the scalability o ...

Workforce and Employee Benefits - Calavo has 2,106 employees as of October 31, 2024, with 317 in the US and 1,789 in Mexico [49] - The company provides competitive compensation, including health and retirement benefits, and offers training and development opportunities through platforms like LinkedIn Learning [51][55] Production and Supply Chain Risks - The company's guacamole production capacity is consolidated in a single manufacturing plant in Michoacán, Mexico, making it vulnerable to production disruptions [77] - The company's supply chain is susceptible to disruptions from weather, climate change, natural disasters, and other factors, which could increase costs and limit product availability [65] - The company's avocado supply in the U.S. is dependent on long-term relationships with growers in California and Mexico [84] Financial Risks and Market Sensitivity - Calavo's business is sensitive to changes in market prices of avocados, agricultural products, and raw materials such as fuel and packaging [10] - Calavo's credit agreement with Wells Fargo Bank bears interest at a variable rate, which could increase costs as interest rates rise [66] - Dividend payments are not guaranteed and may be reduced or discontinued based on operational results, cash requirements, and financial conditions [85][86] - The company's ability to pay dividends is restricted by its Credit Agreement and may be impacted by substantial indebtedness [87] - Foreign currency remeasurement losses for fiscal 2024 were $5.8 million, with gains of $1.4 million in fiscal 2023 [262] Operational and Strategic Risks - Calavo faces risks from potential labor disputes, wage inflation, and dependence on key personnel and large customers [10] - Calavo's transition following the divestiture of its Fresh Cut business involves operational, strategic, and financial risks, including potential revenue fluctuations and challenges in managing fixed costs [63] - The company's business is impacted by seasonality and weather conditions, which can affect market conditions and supply chain stability [10] - Walmart accounted for approximately 12% of the company's total net sales in 2024 [83] Cybersecurity and Information Risks - Calavo faces risks from potential cyber-attacks, including ransomware, which could compromise confidential information and disrupt operations [81] Environmental, Social, and Governance (ESG) Risks - ESG-related regulations and stakeholder expectations may increase management time and administrative expenses [88] - Climate change may negatively affect the company's business and operations due to potential impacts on global temperatures and weather patterns [99] Leadership and Talent Risks - The company faces risks from executive leadership transitions and potential difficulties in attracting and retaining qualified personnel [91][94] Commodity and Inflation Risks - Commodity price volatility, including fruits, ingredients, and packaging materials, could lead to increased costs or supply disruptions [260] - Inflation may increase costs, and selling price increases may not fully offset these cost increases if consumer purchasing power declines [261]

SANTA PAULA, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of value-added fresh food, today reported its financial results for the fiscal fourth quarter and fiscal year ended October 31, 2024. Introductory Note: In the first quarter of 2024, we concluded that the Fresh Cut (formerly RFG) business met the requirements to be classified as held for sale and discontinued operations. As a result, the financial results of that busin ...

SANTA PAULA, Calif., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of $0.20 per share. The dividend is to be paid on January 31, 2025, to shareholders of record as of the close of business on January 10, 2025. About Calavo Growers, Inc.Calavo Growers, Inc. (Nasdaq: CVGW) is a global lea ...

SANTA PAULA, Calif., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole, today announced that it plans to release financial results for the fiscal fourth quarter and fiscal year ended October 31, 2024 and file its Form 10-K for the 2024 fiscal year after the market closes on Tuesday, January 14, 2025. As an “accelerated filer,” the Company is allowed up to 75 days following its fiscal year ...

SANTA PAULA, Calif., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole, today announced that James Snyder will become the Company’s new Chief Financial Officer effective December 2. Shawn Munsell, Calavo’s current CFO will be departing the Company on November 29 to pursue a new opportunity. He will serve as a consultant to the Company in the month of December to ensure a smooth transition ...

Calavo Growers (CVGW) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 58.33%. A quarter ago, it was expected that this avocado grower would post earnings of $0.31 per share when it actually produced earnings of $0.50, delivering a surprise of 61.29%. Over the last four quarters, the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------|---------------------------------------------------------------------------------------- ...