Calavo Growers - CVGW STOCK NEWS

Calavo Growers, Inc. (Nasdaq: CVGW), a leader in the avocado and fresh food industries, will announce its fiscal third quarter financial results for the period ending July 31, 2022, on September 1, 2022, after market close. An accompanying conference call for analysts and investors is slated for 5:00 p.m. ET the same day, where results will be discussed and questions answered. Calavo specializes in a variety of produce and operates globally, emphasizing innovation and sustainable practices since its founding in 1924.

Calavo Growers (Nasdaq: CVGW) announces the retirement of Robert Wedin after 49 years, appointing Danny Dumas as Senior VP & General Manager of Calavo Grown. Dumas brings over 30 years of experience, previously leading roles at Del Monte Fresh Produce and Courchesne Larose USA. The company will reorganize into Grown and Prepared segments, with Dumas managing the fresh produce segment starting July 11. Wedin will remain as an adviser through the transition. This leadership change aims to strengthen operations and align product management with profitability.

Calavo Growers (Nasdaq: CVGW) has appointed Shawn Munsell as Chief Financial Officer, effective June 20, 2022. Munsell brings over 20 years of finance experience, having previously served as Senior VP of Finance for Tyson Foods' chicken segment, with revenues of $14 billion in 2021. His background includes roles at CF Industries, enhancing his credentials. Both Munsell and Calavo’s CEO express excitement about the opportunity for operational improvements and growth during a crucial phase for the company.

Calavo Growers, Inc. (CVGW) reported its Q2 2022 financial results, showing total revenue of $331.4 million, a 20% increase year-over-year. The gross profit was $21.7 million (6.6% of revenue), down from $22.6 million (8.2% of revenue) a year prior. Notably, fresh segment revenue surged 30% to $211 million, driven by a 70% rise in avocado prices despite a 13% decline in volume. The net loss was $(0.2) million or $(0.01 per share, compared to net income of $8.8 million a year ago. Management remains optimistic about ongoing improvements from its Project Uno initiatives.

Calavo Growers, Inc. (Nasdaq: CVGW) has announced it will report its financial results for the second quarter, ending April 30, 2022, on June 2 after market close. An earnings conference call will follow at 5:00 p.m. ET to discuss these results. Calavo is a leader in the avocado and fresh food sectors, offering diverse produce such as avocados, tomatoes, and papayas. Established in 1924, the company emphasizes innovation and sustainability, serving a broad range of customers worldwide.

Tupperware Brands Corporation (NYSE: TUP) has appointed Mariela Matute as its new Chief Financial Officer, effective May 24, 2022. Matute brings over 20 years of finance expertise, having previously served as CFO of Calavo Growers (NASDAQ: CVGW) and Amazon Business. Her experience includes leading financial restructuring and modernization initiatives. CEO Miguel Fernandez expressed confidence in Matute's ability to support Tupperware's turnaround strategy, aiming to enhance revenue and market share while executing omnichannel business strategies.

Calavo Growers, Inc. (Nasdaq: CVGW) announced the departure of CFO Mariela Matute, effective May 19, 2022, who will take on a new role at another company. Brian W. Kocher, the current President and CEO, will serve as interim CFO while the company searches for a successor. Kocher praised Matute's contributions and expressed optimism about Calavo's operational performance, including ongoing initiatives like Project Uno. Calavo remains committed to its growth strategy as it continues to innovate in the produce industry.

Calavo Growers (CVGW) announced its 2022 annual shareholder meeting will take place virtually on April 27, 2022, at 1:00 PM PT. This move allows shareholders to participate without attending in person. Record holders as of February 28, 2022, can vote and submit questions via a designated virtual platform. Notably, cumulative voting for directors will not be facilitated through the webcast, and shareholders must provide proxy instructions beforehand if they wish to vote cumulatively. The company encourages advance voting and highlights that all proxy statement information remains unchanged.

Calavo Growers (CVGW) announced a restructuring aimed at enhancing efficiency and customer service as part of its Project Uno initiative. The company will operate through two segments: Grown, featuring fresh avocados, tomatoes, and papayas; and Prepared, including fresh-cut fruits, salads, and guacamole. This reorganization is expected to yield over $2 million in annual savings by reducing Selling, General and Administrative expenses. The restructuring includes elimination of certain executive roles, and new leadership will focus on profitability and growth strategies.