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Jul 31, 2021
Calavo Growers Q3 2021 Earnings Report
Calavo Growers experienced a challenging third quarter due to inflationary pressures and delayed avocado crops, resulting in a net loss.
Key Takeaways
Calavo Growers reported a 5% increase in revenue to $285.0 million for Q3 2021, but faced significant challenges with inflationary pressures on labor, raw materials, and freight, along with delayed avocado crops. This resulted in a decrease in gross profit and a net loss of $(13.0) million, or $(0.74) per diluted share, compared to a net loss of $(15.6) million, or ($0.89) per diluted share, for the same period last year.
Total revenue increased by 5% year-over-year to $285.0 million.
Fresh segment revenue was flat, while RFG and Foods segments revenues increased by 14% and 12%, respectively.
Gross profit decreased to $7.9 million, or 2.8% of revenue, compared to $30.8 million, or 11.4% of revenue, in the year-ago quarter.
Net loss was $(13.0) million, or $(0.74) per diluted share, compared to a net loss of $(15.6) million, or ($0.89) per diluted share, for the same period last year.
Calavo Growers
Calavo Growers
Calavo Growers Revenue by Segment
Revenue by Segment
Fresh Revenue
CapyFin.com Forward Guidance
Calavo has refrained from providing revenue or adjusted EBITDA expectations until the environment has stabilized.