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Apr 30, 2022
Calavo Growers Q2 2022 Earnings Report
Calavo Growers demonstrated sequential improvement and revenue growth.
Key Takeaways
Calavo Growers, Inc. reported a 20% increase in total revenue to $331.4 million for the second quarter of 2022, with sequential improvements in gross profit, EPS, and adjusted EBITDA. However, the company experienced a net loss of $(0.2) million, or $(0.01) per diluted share, compared to a net income of $8.8 million, or $0.50 per diluted share, for the same period last year.
Total revenue increased by 20% year-over-year to $331.4 million.
Fresh segment revenue increased 30% year-over-year to $211.0 million.
Net loss was $(0.2) million, or $(0.01) per diluted share, compared to net income of $8.8 million, or $0.50 per diluted share, for the same period last year.
Adjusted EBITDA was $12.7 million, compared to $15.0 million for the same period last year.
Calavo Growers
Calavo Growers
Forward Guidance
Calavo is optimistic about ongoing profit improvement from their efforts in the third and fourth quarters, with the third quarter as their typically strongest quarter due to seasonality.
Positive Outlook
- Enthusiastic about sequential results given Project Uno efforts
- Optimistic about ongoing profit improvement from efforts in the third and fourth quarters
- Third quarter typically strongest due to seasonality