Calavo Growers, Inc. Announces Fourth Quarter and Fiscal 2020 Financial Results
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Calavo Growers (CVGW) Misses Q4 EPS by 30c, Revenues Miss; Offers 1Q Revenue Guidance Above Consensus
December 21, 2020 4:04 PM ESTCalavo Growers (NASDAQ: CVGW) reported Q4 EPS of $0.34, $0.30 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $234.4 million versus the consensus estimate of $256.07 million.
Fourth Quarter Highlights
Total revenue of $234.4 million, a 20% decrease year over year, reflecting 3% growth in avocado volume offset by 22% lower avocado prices and lower revenue in the Renaissance Food Group (RFG) and Foods segments.Gross profit of $21.2 million, or 9.0% of revenue, compared to $24.6 million, or 8.4% of revenue, for the comparable period last year. The increase in gross profit margin percentage was attributable... More