Calavo Growers (CVGW) Misses Q2 EPS by 1c

Calavo Growers (NASDAQ: CVGW) reported Q2 EPS of $0.43, $0.01 worse than the analyst estimate of $0.44. Revenue for the quarter came in at $276.8 million versus the consensus estimate of $267.07 million.

Outlook

The Company is providing the following expectations for the third fiscal quarter of 2021:

Revenue in a range of $280 million to $300 million; and
Adjusted EBITDA in a range of $11 million to $15 million.

“The Adjusted EBITDA forecast reflects near-term inflationary pressure on labor, raw materials and freight. We expect that by the end of the year many of these pressures will be mitigated as we are working on pricing initiatives with our business partners and accelerating development of internal operational efficiencies to alleviate these unprecedented inflationary issues,” concluded Gibson.

The Company is not able to provide a reconciliation of expected adjusted EBITDA to the most directly comparable expected GAAP measure due to the unknown effect, timing and potential significance of the effects of non-cash income and losses associated with unconsolidated entities, among others. These items have in the past, and may in the future, significantly affect GAAP results in a particular period.

For earnings history and earnings-related data on Calavo Growers (CVGW) click here.

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