Calavo Growers Reports Strong Fiscal Year 2024 Performance

Calavo Growers ( (CVGW) ) has released its Q4 earnings. Here is a breakdown of the information Calavo Growers presented to its investors.

Calavo Growers, Inc., a global leader in the avocado industry, specializes in the processing and distribution of avocados, tomatoes, papayas, and guacamole, serving a wide range of markets from retail grocery to foodservice. In its latest earnings report, Calavo Growers announced an 11.4% increase in total net sales for fiscal year 2024, reaching $661.5 million, with notable growth in their Grown segment. The company also reported an adjusted net income of $18.7 million, showcasing a significant improvement from the previous year. Key highlights from the fiscal year include a strategic focus on core operations through the sale of its Fresh Cut business, which bolstered the company’s balance sheet and streamlined operations. The Grown segment saw a 13.3% increase in net sales and a 9.4% rise in gross profit, driven by higher avocado margins, while the Prepared segment faced challenges with a 4.2% decrease in net sales but managed a modest increase in gross profit. Looking ahead, Calavo Growers is optimistic about fiscal 2025, with expectations for double-digit growth in avocado and guacamole sales volumes, supported by new customer acquisitions and expanded sourcing strategies. The company remains focused on operational optimization and cost efficiencies to drive revenue growth and enhance shareholder value.