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Oct 31, 2024
Calavo Growers Q4 2024 Earnings Report
Calavo Growers' financial performance for Q4 2024 was announced, with net sales increasing and net loss from continuing operations improving.
Key Takeaways
Calavo Growers reported a 19.5% increase in net sales to $170.0 million for the fourth quarter of 2024, driven by growth in the Grown segment. The net loss from continuing operations improved, while adjusted EBITDA decreased due to higher incentive compensation. The company is optimistic about fiscal year 2025, anticipating double-digit growth in avocado and guacamole sales volumes.
Total net sales increased by 19.5% to $170.0 million compared to the prior year quarter.
Grown segment net sales increased by 23.4%, while Prepared segment net sales decreased by 9.4%.
Net loss from continuing operations improved by approximately 48% compared to the same quarter last year.
Adjusted EBITDA decreased by approximately 16%, primarily due to an increase in incentive compensation.
Revenue by Segment
Forward Guidance
Calavo Growers anticipates double-digit growth in avocado and guacamole sales volumes and overall revenue for fiscal year 2025, driven by new customer acquisition, product innovations, deeper penetration within existing accounts, and expanded global sourcing strategies. The company expects these initiatives to drive meaningful value creation for shareholders, supported by a focus on cost discipline and efficiencies in SG&A expenses.
Positive Outlook
- Strategic focus on operational optimization
- Disciplined execution
- Leveraging organic growth opportunities
- Double-digit growth anticipated in avocado and guacamole sales volumes
- Double-digit growth anticipated in overall revenue
Challenges Ahead
- USDA limitations on inspection hours in Mexico.
- Isolated pest challenges in Michoacan.
- Projected decline in tomato volumes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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