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Calavo Growers' Q4 Earnings Miss Estimates, Sales Jump 20% Y/Y

Calavo Growers, Inc. reported its fiscal fourth-quarter earnings, which fell short of Wall Street's expectations. Despite the earnings miss, the company experienced a significant year-over-year sales increase of 20%, reaching $254.5 million, which was above the consensus estimate of $242.5 million. The growth was primarily driven by a 30% surge in avocado sales, although this was somewhat offset by a 15% decline in the prepared segment. The company's adjusted net income was $0.03 per share, missing the consensus estimate of $0.18 per share. Calavo also faced challenges from lower avocado margins due to increased fruit costs and a less favorable sales mix. Looking forward, the company anticipates avocado prices to remain high due to reduced supply from Mexico, but expects better margins in the prepared segment as it focuses on operational improvements and cost management.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/calavo-growers-q4-earnings-miss-estimates-sales-jump-20-y-y/ar-AA1xg7pL ]