CALAVO GROWERS Reports Third Quarter FY2023 Earnings Results on September 6 2023
September 8, 2023
🌥️Earnings Overview
On September 6 2023, CALAVO GROWERS ($NASDAQ:CVGW) announced their financial results for the third quarter of FY2023, which ended on July 31 2023. Total revenue for the quarter totaled USD 259.9 million, representing a 24.0% decrease compared to the same quarter in the previous year. However, net income for the quarter rose to USD 6.6 million, up from 1.3 million the year before.
Market Price
The stock opened at $32.9 and closed at $31.3, representing a 3.7% decrease from the previous day’s closing price of $32.4. The company also projected a revenue growth of 2-3 % for the fourth quarter, which indicates that they are well-positioned for future growth and success. Overall, these results demonstrate CALAVO GROWERS‘ stability and progress in the long term. Shareholders should be pleased with these results and look forward to further growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Calavo Growers. More…
| Total Revenues | Net Income | Net Margin |
| 974.34 | -3.75 | -0.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Calavo Growers. More…
| Operations | Investing | Financing |
| -11.15 | 6.33 | 3.52 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Calavo Growers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 414.94 | 195.84 | 12.24 |
Key Ratios Snapshot
Some of the financial key ratios for Calavo Growers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.5% | -54.0% | 0.2% |
| FCF Margin | ROE | ROA |
| -2.4% | 0.6% | 0.3% |
Analysis
GoodWhale has conducted an analysis of CALAVO GROWERS‘s wellbeing and based on our Star Chart, it is strong in asset and dividend and medium in profitability. Growth is the only area where it is weak. However, with a high health score of 8/10 considering its cashflows and debt, we conclude that CALAVO GROWERS is capable to safely ride out any crisis without the risk of bankruptcy. We have classified CALAVO GROWERS as ‘cow’, meaning that it has the track record of paying out consistent and sustainable dividends. As such, investors who are looking for consistent dividend payouts and high asset strength may be interested in this company. Those who are looking for rapid growth may need to look for other options. More…
Peers
The competition between Calavo Growers Inc and its competitors is intense. Each company is vying for market share in the global marketplace. The competition is fierce and the stakes are high. Each company is striving to be the best in the industry.
– Cool Link (Holdings) Ltd ($SEHK:08491)
Link Holding’s market cap is currently 41.13M. The company has a return on equity of -4.94%. Link Holdings is a company that focuses on investments and mobile internet businesses.
– HF Foods Group Inc ($NASDAQ:HFFG)
Founded in 1919, H.F. Foods Group is a foodservice distributor that offers a range of products, including produce, seafood, meat, poultry, dairy, dry goods, and paper goods. The company serves customers in the United States, Canada, and Puerto Rico. As of 2022, H.F. Foods Group had a market cap of 219.66 million and a return on equity of 6.73%. The company’s products are distributed through a network of distribution centers and sales offices.
– Shineroad International Holdings Ltd ($SEHK:01587)
Shineroad International Holdings Ltd is a Hong Kong-based company principally engaged in the design, manufacture and sale of plastic products. The Company operates its businesses through three segments. The Plastic Injection Molding Manufacturing segment is engaged in the design and manufacture of plastic products, including plastic caps and closures, food containers, toys, office products and packaging products. The Plastic Blow Molding Manufacturing segment is engaged in the design and manufacture of plastic products, including plastic drums, fuel tanks, toys, auto parts and industrial products. The Recycling and Trading of Plastic Materials segment is engaged in the recycling and trading of plastic materials.
Summary
CALAVO GROWERS reported a decrease in total revenue of 24.0% for the third quarter of FY2023, ending on July 31 2023, compared to the same period in the previous year. Despite this, net income for the quarter was USD 6.6 million, up from 1.3 million the year before. The stock price decreased on the day of the earnings announcement. This suggests that investors are not overly optimistic about the company’s prospects in the near term.
It’s possible that investors are cautious about the company’s future despite the improved bottom line due to the decrease in overall revenue. As such, investors should carefully analyze the company before making any decisions.
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