NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Calavo Growers, Inc, (“Calavo” or the “Company”) (NASDAQ: CVGW). The investigation concerns whether Calavo and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here for more information about the investigation] On January 17, 2024, Calavo disclosed in a press release that it would file a Form 12b-25 Notification of Late Fil ...

ATLANTA, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Calavo Growers, Inc. ("Calavo" or the "Company") (NASDAQ:CVGW) complied with federal securities laws. On January 31, 2024, the Company disclosed that a Special Committee of the Board of Directors determined that certain matters "related to the Company's operations in Mexico raised potential issues under the Foreign Corrupt Practices Act ("FCPA")." Following this news, the price of the Company's stock dropped.    If you ...

BOSTON, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Calavo Growers, Inc. (NASDAQ:CVGW) for potential securities law violations. Investors who have lost money in their Calavo Growers, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/cvgw. What is this all about? After the market close on January 16, 2024, Calavo Growers disclosed that it would be delaying the release of Q4 and ful ...

Shares of Calavo Growers (CVGW -8.78%) were going rotten today after the avocado grower posted a decline in revenue and earnings in its fourth quarter.As a result, the stock was down 7.7% as of 12:54 p.m. ET. Calavo shrivelsCalavo, one of the world's largest producers of avocados, said revenue in the quarter fell 1% to $241.2 million, which missed the consensus at $252.4 million. In its grown segment, which is mostly avocados but also includes other produce like tomatoes, revenue rose 5.6% to $125.7 million ...

(a) For the years ended October 31, 2023, 2022 and 2021, we incurred losses from Agricola Don Memo totaling $0.9 million, $0.6 million, and $1.7 million. (b) In July 2021, as part of the FreshRealm Separation Agreement, FreshRealm paid Calavo the Loan Payoff Amount of $6.0 million, and we recorded the receipt on the statement of operations as a recovery of the reserve for collectability of the FreshRealm note receivable. In addition, we recovered $0.1 million in receivables that we previously reserved. For ...

Table of Contents or Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents Table of Contents PART I. FINANCIAL INFORMATION Table of Contents | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------|-------|-------|--------------------|-------|--------------------| | Assets | | | April 30, 2023 | | October 31, 2022 ...

Financial Data and Key Metrics Changes - Consolidated first quarter revenue was $226 million, a decrease of $48 million from the first quarter of 2022 [33] - Adjusted EBITDA for the first quarter was $3.6 million, down from $4.7 million in the prior year [35] - The average case price for avocados fell to about $28 in the first quarter, compared to around $34 in the fourth quarter and $43 in the prior year quarter [122] Business Line Data and Key Metrics Changes - Prepared segment revenue was $108 million, down $4 million from the prior year quarter, with volume declines of about 13% [21] - Grown segment gross profit for the first quarter was $9.5 million, down from $11.7 million for the same quarter last year, with avocado margins falling to about $2.20 per case [22] - Gross profit in the Prepared segment increased to $5 million from $1.6 million in the prior year quarter, with a gross margin of 4.6% [34] Market Data and Key Metrics Changes - Avocado import volume from Mexico grew over 8% compared to the same quarter in 2022, while retail sales volume only grew about 3% [4] - Total U.S. inventories rose almost 7%, which pressured wholesale prices and compressed margins [4] - The overall produce category saw unit sales decline by 3%, while non-value-added commodities were down 4% [55] Company Strategy and Development Direction - The company plans to reduce fiscal 2023 capital expenditures to approximately $13 million while navigating near-term uncertainties [17] - A restructuring of U.S. and Mexico operations was implemented to streamline costs and upgrade organizational capabilities [29] - The company is focusing on growth in the guacamole and deli categories, with new customer acquisitions scheduled for the second half of the year [15][100] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the first quarter performance was disappointing but expects sequential improvement throughout the fiscal year [32] - The company anticipates ongoing margin volatility in the Grown segment as the California and Peru avocado seasons begin [24] - Management emphasized the importance of maintaining competitive dividend metrics and plans to reset the dividend to $0.10 per share for the second quarter [8] Other Important Information - The company incurred about $1 million in unfavorable incremental costs due to weather events affecting the fresh cut division [7] - A one-time charge of approximately $3.2 million is expected in the second quarter related to restructuring activities [37] - The company has a strong balance sheet and sufficient liquidity to manage through current market challenges [38] Q&A Session Summary Question: Can you discuss the demand elasticities in the Prepared business and expectations for volume recovery? - Management noted that inflation moderation is expected to help demand, and they still see long-term growth potential in Prepared categories [43] Question: Is this the last of the restructuring decisions, or might there be more? - Management indicated that while this restructuring is less significant than previous ones, ongoing adjustments will continue to enhance organizational efficiency [44] Question: What are the expectations for capital expenditures and their relation to growth? - Management clarified that most of the deferred CapEx is related to lower-performing projects, but they remain open to investing in compelling growth opportunities [86] Question: How did the mix of avocado sizes impact pricing and margins? - Management explained that smaller fruit sizes negatively impacted gross profit per case due to lower nutrient availability [88] Question: What competitive pressures are affecting avocado sales? - Management highlighted that consumers are switching to other products due to high retail prices and reduced promotional activity [95]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from ______________________ to ______________________ Table of Contents Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 1. Legal Proceedings 29 CALAVO GROWERS, INC. Table of Contents The accompanying notes are an integral part of these consolidated condensed financial statements. | --- | --- | --- | --- | --- | |---------------------------------------------- ...

Calavo Growers, Inc. (NASDAQ:CVGW) Q4 2022 Earnings Conference Call December 20, 2022 5:00 PM ET Company Participants Julie Kegley - Investor Relations Brian Kocher - President and CEO Shawn Munsell - Chief Financial Officer Conference Call Participants Ben Bienvenu - Stephens Eric Larson - Seaport Research Partners Ben Klieve - Lake Street Capital Markets Operator Good afternoon. And welcome to the Fourth Quarter and Fiscal Year 2022 Calavo Growers Earnings Conference Call and Webcast. All participants wil ...