Core Points - Lee E. Cole will retire as President and CEO of Calavo Growers, effective December 8, 2025, after four decades of leadership [1] - B. John Lindeman, former CFO and current Board member, has been appointed as the new President and CEO [1][2] Leadership Transition - Kathleen Holmgren, Chair of the Board, expressed gratitude for Mr. Cole's contributions and leadership during his tenure [2] - Mr. Cole highlighted his pride in the company's achievements and confidence in Mr. Lindeman's leadership for future success [2] - Mr. Lindeman emphasized his commitment to driving growth and creating sustainable value for shareholders [2] Background of New CEO - Mr. Lindeman previously served as CEO of Hydrofarm Holdings Group and held various leadership roles in finance and investment banking [2][3] - He is a Chartered Financial Analyst and holds a Bachelor of Science in business administration [3] Strategic Review - Calavo Growers is currently evaluating strategic alternatives following a non-binding acquisition proposal received on June 11, 2025 [4] - The review process is ongoing and may or may not lead to a transaction [4] Company Overview - Calavo Growers, Inc. is a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole [5] - The company was founded in 1924 and has a strong culture of innovation and sustainable practices [5] - Calavo serves various markets including retail grocery, foodservice, and wholesalers worldwide [5]

Core Viewpoint - Calavo Growers, Inc. is set to release its financial results for the fiscal third quarter ended July 31, 2025, on September 9, 2025, after market close [1]. Company Overview - Calavo Growers, Inc. is a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole [2]. - The company operates under the Calavo brand name, along with proprietary sub-brands, private labels, and store brands [2]. - Founded in 1924, Calavo has a strong culture of innovation, sustainable practices, and market growth [2]. - The company serves various sectors including retail grocery, foodservice, club stores, mass merchandisers, food distributors, and wholesalers worldwide [2]. - Calavo is headquartered in Santa Paula, California, with facilities across the U.S. and Mexico [2].

Core Viewpoint - Calavo Growers, Inc. reported financial results for the second fiscal quarter and six-month period ended April 30, 2025, showing a mixed performance with increased net sales but decreased gross profit due to lower volumes in key segments [1][8]. Second Quarter Financial Overview - Total net sales for the second quarter were $190.5 million, a 3.3% increase from the prior year quarter [6][13]. - Fresh segment sales were $174.7 million, a 4.7% increase, while prepared segment sales were $15.9 million, a 9.9% decrease [6][13]. - Gross profit was $18.1 million, an 11.9% decrease from the prior year quarter, with fresh segment gross profit declining 13.4% to $14.1 million [6][15]. - Net income from continuing operations was $6.9 million, or $0.38 per diluted share, compared to $6.1 million, or $0.34 per diluted share, in the prior year quarter [6][20]. Six-Month Period Financial Overview - Total net sales for the six-month period were $344.9 million, a 10.6% increase from the prior year period [6][17]. - Fresh segment sales increased 12.4% to $314.4 million, while prepared segment sales decreased 5.4% to $30.5 million [6][17]. - Gross profit for the six-month period was $33.8 million, an 8.0% increase from the prior year period [6][18]. - Net income from continuing operations was $11.3 million, or $0.63 per diluted share, compared to a loss of $0.2 million, or $(0.01) per diluted share, in the prior year period [20]. Segment Performance - Fresh segment growth was supported by significantly higher average avocado pricing, which offset a year-over-year decline in volume [6][12]. - Prepared segment sales decreased primarily due to a decline in sales volume and average selling price [6][12]. - The tomato business experienced a sharp decline in gross profit due to adverse weather and abundant domestic supply, which pressured pricing [10][18]. Management Commentary - The CEO highlighted the strength of the commercial strategy and operational execution amid avocado market volatility, with revenue growth driven by strong pricing performance [8][12]. - Management anticipates strong momentum in the prepared segment during the second half of the year, supported by new customer wins and expanded programs [12][18]. Balance Sheet and Liquidity - As of April 30, 2025, the company had cash and cash equivalents of $60.4 million and total debt of $4.7 million [21].

Company Overview - Calavo Growers, Inc. is a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole [2] - The company was founded in 1924 and has a strong culture of innovation, sustainable practices, and market growth [2] - Calavo products are marketed under the Calavo brand, proprietary sub-brands, and various private label and store brands [2] - The company serves a diverse range of customers including retail grocery, foodservice, club stores, mass merchandisers, food distributors, and wholesalers worldwide [2] - Calavo is headquartered in Santa Paula, California, with facilities throughout the U.S. and Mexico [2] Financial Announcement - Calavo Growers, Inc. plans to release its financial results for the fiscal second quarter ended April 30, 2025, after the market closes on June 9, 2025 [1]