Calavo Growers, Inc. (NASDAQ:CVGW) Q2 2022 Earnings Conference Call June 2, 2022 5:00 PM ET Company Participants Julie Kegley - IR Brian Kocher - President and CEO Conference Call Participants Eric Larson - Seaport Research Mitch Pinheiro - Sturdivant and Company Ben Klieve - Lake Street Capital Markets Operator Good afternoon, and welcome to the Second Quarter 2022 Calavo Growers Earnings Conference Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] I will now turn 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 April 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------|--------------------------------------------------------------------------------------- ...

Calavo Growers, Inc. (NASDAQ:CVGW) Q1 2022 Earnings Conference Call March 14, 2022 5:00 PM ET Company Participants Larry Clark - IR Brian Kocher - President and CEO Mariela Matute - CFO Conference Call Participants Ben Bienvenu - Stephens Robert Dickerson - Jefferies Ben Klieve - Lake Street Capital Eric Larson - Seaport Research Partners Mitchell Pinheiro - Sturdivant and Company Operator Good afternoon and welcome to the First Quarter 2022 Calavo Growers Earnings Conference Call and Webcast. [Operator Ins ...

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 January 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------|------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - In Q4 2021, consolidated revenue increased by 17% year-over-year, primarily driven by a 26% increase in the Fresh segment, which saw a 37% rise in average selling price for avocados, despite a 7% decline in volume [23][24] - Gross profit margins declined year-over-year due to lower volume and higher costs, with RFG gross profit down nearly $8 million due to market-wide pressures [27][28] - The company ended the quarter with $141 million in cash and liquid investments, maintaining a strong financial position and low leverage [32] Business Segment Data and Key Metrics Changes - Fresh segment revenue increased by 26%, driven by higher average selling prices, while RFG revenue rose by 7% due to a favorable product mix and price increases [23][24] - The Food segment experienced a 6% increase in sales, mainly from higher volume from foodservice customers and price increases [24] - Project Uno is expected to yield an annualized EBITDA increase of $70 million, with a total one-time cost of approximately $30 million [15][30] Market Data and Key Metrics Changes - U.S. avocado demand continues to grow, with per capita consumption exceeding 9 pounds, double the rate from a decade ago [7][8] - The Hispanic population in the U.S., a key consumer group for avocados, is expected to double by 2050, further driving demand [9] Company Strategy and Development Direction - The company is focused on Project Uno, which aims to unify supply chains and drive synergies across divisions, with over 40 initiatives already in progress [15][65] - The opening of the Jalisco facility for avocado shipments to the U.S. is expected to provide flexibility in managing supply and demand, enhancing margin opportunities [11][43] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2021, including labor shortages and high freight costs, but noted improvements in market conditions as they entered Q1 2022 [5][6] - The long-term outlook remains favorable, although current market conditions make it difficult to predict when inflationary pressures will ease [35] Other Important Information - The company announced a $1.15 per share annual dividend, consistent with the previous year, continuing a tradition since going public in 2002 [6] - The board plans to reduce its size from 11 to 9 directors, aligning with the company's size [16] Q&A Session Summary Question: Can you provide insight on the progression through fiscal 2022 and major milestones for Project Uno? - Management expects proportional benefits from Project Uno each quarter, with investments needed initially to realize these benefits [38] Question: What is the size and expected capacity utilization of the Jalisco facility? - The Jalisco facility is about half the size of the Michoacan facility and is expected to start shipments in April, providing another avenue for supply [43] Question: How are pricing and volume dynamics affecting gross margins? - Higher prices are expected to improve margins, but the company is also focused on increasing volume to lower packing costs [50] Question: What is the outlook for the RFG segment's gross margins? - The closure of the Jacksonville facility is expected to yield annualized savings of $4 million to $6 million, positively impacting gross margins [53] Question: How is the company managing labor costs and pricing in the current environment? - Labor costs have stabilized, and retail partners have been amenable to price increases, allowing the company to manage costs effectively [72]

Callavo. CALAVO GROWERS, INC. INVESTOR PRESENTATION NASDAQ GS: CVGW DECEMBER 2021 SAFE HARBOR STATEMENT This presentation contains statements relating to future events and results of Calavo (including certain projections and business trends) that are "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, that involve risks, uncertainties and assumptions. These statements are based on our current expectations and are not promises or guarantees. If any of the risks o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-33385 CALAVO GROWERS, INC. (Exact name of registrant as specified in its charter) California 33-0945304 (State of Other Jurisdiction of incorporation or Organization) (I.R.S. Emp ...

Calavo Growers, Inc. (NASDAQ:CVGW) Q3 2021 Earnings Conference Call September 8, 2021 5:00 PM ET Company Participants Lisa Mueller - IR Steve Hollister - Interim CEO Farha Aslam - Interim CFO Conference Call Participants Benjamin Bienvenu - Stephens Rob Dickerson - Jefferies Mitchell Pinheiro - Sturdivant & Co., Inc. Ben Klieve - Lake Street Capital Markets Eric Larson - Seaport Global Greetings. Welcome to the Calavo Growers Third Quarter 2021 Earnings Call. At this time, all participants are in listen-onl ...

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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ Commission file number: 000-33385 CALAVO GROWERS, INC. (Exact name of registrant as specified in its ch ...

Calavo Growers, Inc. (NASDAQ:CVGW) Q2 2021 Earnings Conference Call June 8, 2021 5:00 PM ET Company Participants Lisa Mueller - Senior Vice President of Financial Profiles, Inc. James Gibson - Chief Executive Officer Kevin Manion - Chief Financial Officer Conference Call Participants Benjamin Bienvenu - Stephens Inc. Mitchell Pinheiro - Sturdivant & Co., Inc. Benjamin Klieve - Lake Street Capital Markets, LLC Eric Larson - Seaport Global Securities LLC Operator Greetings, and welcome to the Calavo Growers, ...