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Apr 30, 2024
Calavo Growers Q2 2024 Earnings Report
Calavo Growers' financial performance improved in the second quarter of 2024, driven by strong operational performance and increased sales in the Grown segment.
Key Takeaways
Calavo Growers reported a 16.5% increase in total net sales, reaching $184.4 million. The company's net income from continuing operations was $6.5 million, or $0.36 per diluted share, compared to $1.4 million, or $0.08 per diluted share, for the same period last year. Adjusted EBITDA increased to $13.4 million compared to $9.9 million in the prior year quarter.
Total net sales increased by 16.5% to $184.4 million.
Grown segment net sales increased 18.9% to $166.8 million.
Net income from continuing operations was $6.5 million, or $0.36 per diluted share.
Adjusted EBITDA increased to $13.4 million.
Revenue by Segment
Forward Guidance
The third quarter is off to a great start and the company expects strong results as they remain focused on maximizing value in their core businesses.
Positive Outlook
- Company expects strong results in Q3.
- Focus on maximizing value in core businesses.
- Improved prices in core avocado business.
- Improved margins in core avocado business.
- Improved performance in tomato portfolio.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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