NASDAQ$CVGW
Calavo Growers Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Calavo Growers' first quarter 2020 results were announced, revealing record revenues but lower profits due to transitory factors.
Calavo Growers reported a 6% increase in revenue, reaching a record $273.3 million for the first quarter. However, gross profit decreased to $15.8 million from $30.8 million in the same period last year, and the company posted a net loss of $0.9 million, or $0.05 per diluted share.
- Revenues rose to a record $273.3 million from $258.0 million.
- Gross profit registered $15.8 million versus $30.8 million last year.
- Net loss was $0.9 million, with an adjusted net income of $1.2 million.
- Diluted loss per share was 5 cents, while adjusted diluted EPS was 7 cents.
Headline financials
Revenue & EPS history
Calavo Growers · Revenue · Quarterly
$273M
Revenue by segment
Calavo Growers · $133M total across 1 segment · Q1 2020
- Fresh$133M+13.4%100.0%
Forward guidance
Calavo Growers anticipates double-digit growth in adjusted diluted earnings per share over the remaining nine months of the fiscal year.
Tailwinds
- Estimates for this year’s all-source U.S. avocado supply are at least 10 percent above 2019, promising further volume gains in the Fresh segment.
- Sourcing from California and Peru is expected to come fully online during the summer, further boosting the Fresh segment.
- Profit-performance improvements are expected in company-controlled manufacturing plants within RFG.
- Sales growth is anticipated in company-controlled facilities, supplemented by the Simply Fresh Fruit business.
- Larger avocado supply and production efficiencies are expected to contribute to growth in gross profit and margin for Calavo Foods.
Headwinds
- Turbulent industry conditions constrained results in the most recent period.
- The company encountered market conditions in which selling prices remained relatively flat for most of the quarter, but avocado fruit costs rose consistently across the quarter.
- Poor fruit quality across the industry, specifically an over-abundance of lower-quality, #2 grade fruit during the period, impacted Fresh segment gross profit.
- Lower sales in the Midwest due to issues with the company’s co-packer continued to hamper results.
- Pending plant closure of the Midwest co-packer is expected to cause a modest two to three percent decline in overall RFG segment sales for the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2020
-0.3%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.9%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+17.1%
Q3 2016
Best reaction
-27.0%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -5.3% | -1.7% | +10.4% | |
| Q4 2025 | +13.3% | +14.7% | +15.5% | |
| Q3 2025 | -2.6% | -0.3% | -9.3% | |
| Q2 2025 | +0.0% | +0.3% | -5.2% | |
| Q1 2025 | -1.4% | +8.2% | +10.1% | |
| Q4 2024 | -4.5% | +4.8% | +0.8% | |
| Q3 2024 | +10.3% | +20.3% | +14.8% | |
| Q2 2024 | +6.5% | -0.7% | -17.2% | |
| Q4 2023 | -10.9% | -8.6% | +5.1% | |
| Q3 2023 | +1.4% | -16.9% | -21.9% | |
| Q2 2023 | -1.0% | -4.0% | -10.2% | |
| Q1 2023 | -27.0% | -25.3% | -11.9% | |
| Q4 2022 | -15.2% | -13.4% | -7.0% | |
| Q3 2022 | -16.5% | -12.1% | -24.5% | |
| Q2 2022 | +12.6% | +17.8% | +25.0% | |
| Q1 2022 | -2.8% | -4.1% | +6.0% | |
| Q4 2021 | +3.4% | +1.2% | +3.7% | |
| Q3 2021 | -18.5% | -26.4% | -22.7% | |
| Q2 2021 | -7.7% | -7.3% | -17.3% | |
| Q1 2021 | -3.8% | -2.9% | -8.2% | |
| Q4 2020 | -7.9% | -3.9% | +2.7% | |
| Q3 2020 | +3.5% | +1.3% | +9.3% | |
| Q2 2020 | -4.4% | -10.2% | -8.0% | |
| Q1 2020 | -8.7% | -1.2% | +10.0% | |
| Q4 2019 | +4.9% | +7.1% | -7.9% | |
| Q3 2019 | +11.4% | +5.6% | +2.9% | |
| Q2 2019 | +0.6% | +4.8% | +5.2% | |
| Q1 2019 | -1.1% | -1.7% | +7.2% | |
| Q4 2018 | -11.5% | -13.4% | -0.5% | |
| Q3 2018 | +0.1% | +3.0% | -6.5% | |
| Q2 2018 | -6.1% | -6.3% | +9.3% | |
| Q1 2018 | +2.9% | +6.6% | +7.5% | |
| Q4 2017 | +5.0% | +4.3% | +16.8% | |
| Q3 2017 | +1.9% | +4.1% | +10.4% | |
| Q2 2017 | +7.8% | +10.3% | -2.6% | |
| Q1 2017 | +5.8% | +8.1% | +17.3% | |
| Q4 2016 | +13.0% | +13.7% | +1.6% | |
| Q3 2016 | +17.1% | +14.4% | +8.0% | |
| Q2 2016 | +14.7% | +15.6% | +17.9% | |
| Q1 2016 | +10.8% | — | — | |
| Q4 2015 | -2.2% | — | — | |
| Q3 2015 | -14.7% | — | — | |
| Q2 2015 | +13.2% | — | — | |
| Q1 2015 | +10.4% | — | — | |
| Q4 2014 | -15.9% | — | — | |
| Q3 2014 | +11.5% | — | — | |
| Q2 2014 | +9.1% | — | — | |
| Q1 2014 | -4.8% | — | — | |
| Q4 2013 | +8.0% | — | — | |
| Q3 2013 | -1.4% | — | — | |
| Q2 2013 | -5.3% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | -10.8% | — | — | |
| Q2 2012 | -13.2% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2012 | -1.2% | — | — | |
| Q2 2011 | +3.4% | — | — | |
| Q4 2011 | +3.4% | — | — | |
| Q4 2009 | +3.4% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q2 2010 | -2.6% | — | — | |
| Q1 2010 | +1.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro