Welcome to our dedicated page for Calavo Growers news (Ticker: CVGW), a resource for investors and traders seeking the latest updates and insights on Calavo Growers stock.
Calavo Growers, Inc. (CVGW) maintains leadership in fresh produce and value-added foods through strategic operations across global markets. This news hub provides investors and industry stakeholders with essential updates on corporate developments, financial performance, and market initiatives.
Access official press releases and third-party analysis covering earnings reports, supply chain updates, product innovations, and executive leadership changes. Our curated collection helps track CVGW's position in the avocado industry and prepared foods sector while monitoring competitive dynamics.
Key coverage areas include quarterly financial results, sustainability initiatives, distribution network expansions, and responses to agricultural market trends. Bookmark this page for real-time updates on operational milestones affecting Calavo's Grown and Prepared business segments.
Calavo Growers reported a 24% increase in total revenue to $274.1 million for Q1 2022, driven by a 41% rise in fresh segment revenue. However, the company faced a net loss of $(4.0) million, a significant decline from the $5.3 million profit in Q1 2021. Gross profit decreased to 4.8% of revenue, reflecting higher costs and supply constraints. Adjusted net loss was $(0.4) million, while adjusted EBITDA fell to $4.7 million. The company is implementing cost-saving measures through its Project Uno initiative, with optimism for profit improvement moving forward.
Calavo Growers, Inc. (CVGW), a leader in the avocado and fresh food industries, has announced that its Q1 2022 earnings release and conference call have been rescheduled. Financial results for the quarter ended January 31, 2022, will now be released after the market closes on March 14, 2022. A conference call will follow at 5:00 p.m. ET to discuss these results and address questions. This adjustment allows additional time to finalize the Quarterly Report on Form 10-Q.
Calavo Growers, Inc. (CVGW) has announced its plans to release financial results for the first quarter ending January 31, 2022, on March 9, after market close. A conference call is scheduled for the same afternoon at 5:00 p.m. ET to discuss the results. Calavo is a leader in the avocado and fresh food industries, providing products across various sectors, including retail and foodservice. The company's segments include Fresh, Renaissance Food Group, and Foods, which offer a variety of fresh and prepared products, under multiple brand names.
Calavo Growers, Inc. (CVGW) has appointed Steven Hollister as the new Chairman of the Board, effective immediately. Hollister, who served as interim CEO from Sept. 8 to Jan. 31, takes over from J. Link Leavens, who remains on the board. CEO Brian W. Kocher is now officially in charge of the company. Hollister emphasized his commitment to leveraging his finance and agricultural experience to support the company's growth trajectory, promising to focus on long-term benefits for stakeholders.
Calavo Growers, Inc. (CVGW) announced the retirement of Harold S. Edwards from its Board of Directors, effective Feb. 1, 2022. His departure, after 16 years of service, reduces the board size to 10 members, aligning it better with the company’s scale. Chairman J. Link Leavens acknowledged Edwards' significant contributions, while Interim CEO Steve Hollister reaffirmed the strong relationship with Limoneira, where Edwards serves as CEO. Established in 1924, Calavo is recognized as a leader in the avocado industry, providing fresh food products globally.
Calavo Growers has appointed Brian W. Kocher as its new President and CEO, effective February 1, 2022. The Board of Directors selected Kocher due to his extensive experience in the fresh produce industry, previously serving as CEO of Castellini Group and in various executive roles at Chiquita Brands. He succeeds Steve Hollister, who has been interim CEO since September 2021. Hollister will return to the Board of Directors post-transition. Kocher expressed his enthusiasm for leading Calavo into its next growth phase.
Calavo Growers, Inc. (CVGW) reported a net loss of $(13.0) million for Q4 2021, reversing from a net income of $6.2 million in Q4 2020. Total revenue for the quarter was $273.4 million, up 17% year-over-year, driven by a 26% increase in the Fresh segment. However, gross profit plummeted to $9.1 million (3.3% of revenue), down from $21.2 million (9.0% of revenue) a year earlier. Adjusted EBITDA also decreased to $1.4 million, compared to $13.4 million in Q4 2020. For the full fiscal year 2021, revenue was steady at $1.1 billion, with a net loss of $(11.8) million.
Calavo Growers, Inc. (CVGW) announced it will release its financial results for the fourth quarter and fiscal year ended October 31, 2021, on December 20, 2021, after market close. A conference call for analysts and investors is scheduled for the same day at 5:00 PM ET to discuss the results and answer questions. Calavo, founded in 1924, is a leader in the avocado and fresh food industries, with a portfolio that includes fresh avocados, guacamole, and prepared foods, marketed under well-known brands.
Calavo Growers, Inc. (CVGW) announced the appointment of Adriana G. Mendizabal as an independent director effective December 1, 2021. Mendizabal brings over 30 years of experience in business turnarounds, currently serving as Group President at Stanley Black & Decker Latin America. She has also held senior roles at Nature's Sunshine Products and Visa USA. Meanwhile, long-time director Scott Van Der Kar will retire from the board effective January 3, 2022, after 27 years of service. Following these changes, the board will consist of 11 directors, seven of whom are independent.
Calavo Growers, Inc. (CVGW) announced an annual cash dividend of $1.15 per share, to be paid on December 3, 2021. Shareholders on record as of November 12, 2021 will receive this dividend. This marks the continuation of a tradition since Calavo went public in 2002. Interim CEO Steven Hollister expressed confidence in the company's future execution capabilities, highlighting the board's approval of this dividend as a sign of strength.
