$CVGW
CALAVO GROWERS INC

2025 Q1 Form 10-Q Financial Statement

#000155837025002814 Filed on March 12, 2025

View on sec.gov

Income Statement

Concept 2025 Q1 2024 Q1
Revenue $154.4M $127.6M
YoY Change 20.99% -43.59%
Cost Of Revenue $138.7M $115.1M
YoY Change 20.43% -45.63%
Gross Profit $15.73M $12.47M
YoY Change 26.15% -13.61%
Gross Profit Margin 10.19% 9.77%
Selling, General & Admin $10.29M $13.46M
YoY Change -23.59% -17.67%
% of Gross Profit 65.41% 107.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.942M $4.555M
YoY Change -57.37% 9.34%
% of Gross Profit 12.35% 36.53%
Operating Expenses $10.29M $13.46M
YoY Change -23.59% -17.67%
Operating Profit $5.046M -$1.378M
YoY Change -466.18% -65.28%
Interest Expense $824.0K
YoY Change 98.08%
% of Operating Profit
Other Income/Expense, Net $112.0K $200.0K
YoY Change -44.0% -43.5%
Pretax Income $4.828M -$2.002M
YoY Change -341.16% -50.33%
Income Tax $1.255M $573.0K
% Of Pretax Income 25.99%
Net Earnings $4.415M -$6.267M
YoY Change -170.45% 104.27%
Net Earnings / Revenue 2.86% -4.91%
Basic Earnings Per Share $0.25 -$0.35
Diluted Earnings Per Share $0.25 -$0.35
COMMON SHARES
Basic Shares Outstanding 17.84M 17.80M
Diluted Shares Outstanding 17.90M 17.80M

Balance Sheet

Concept 2025 Q1 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.658M
YoY Change 214.86%
Cash & Equivalents $48.49M $5.658M
Short-Term Investments
Other Short-Term Assets $164.3M
YoY Change 694.97%
Inventory $39.87M $39.55M
Prepaid Expenses
Receivables $47.09M $35.16M
Other Receivables $894.0K
Total Short-Term Assets $158.2M $245.6M
YoY Change -35.6% 84.78%
LONG-TERM ASSETS
Property, Plant & Equipment $76.71M
YoY Change -54.57%
Goodwill $10.21M $10.21M
YoY Change 0.0% -64.36%
Intangibles $275.0K
YoY Change -95.97%
Long-Term Investments $3.286M $2.903M
YoY Change 13.19% -26.26%
Other Assets $49.79M $55.97M
YoY Change -11.05% 12.23%
Total Long-Term Assets $140.8M $149.1M
YoY Change -5.59% -43.44%
TOTAL ASSETS
Total Short-Term Assets $158.2M $245.6M
Total Long-Term Assets $140.8M $149.1M
Total Assets $298.9M $394.7M
YoY Change -24.26% -0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.916M
YoY Change -71.78%
Accrued Expenses $29.52M $20.58M
YoY Change 43.41% -60.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.626M
YoY Change -5.41%
Total Short-Term Liabilities $70.79M $120.9M
YoY Change -41.44% 15.0%
LONG-TERM LIABILITIES
Long-Term Debt $49.37M
YoY Change 131.18%
Other Long-Term Liabilities $4.512M $4.653M
YoY Change -3.03% 78.82%
Total Long-Term Liabilities $25.26M $71.26M
YoY Change -64.54% -4.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.79M $120.9M
Total Long-Term Liabilities $25.26M $71.26M
Total Liabilities $96.06M $192.2M
YoY Change -50.01% 6.92%
SHAREHOLDERS EQUITY
Retained Earnings $23.19M $24.29M
YoY Change -4.53% -43.44%
Common Stock $178.2M $176.8M
YoY Change 0.78% 2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $201.1M
YoY Change
Total Liabilities & Shareholders Equity $298.9M $394.7M
YoY Change -24.26% -0.46%

Cashflow Statement

Concept 2025 Q1 2024 Q1
OPERATING ACTIVITIES
Net Income $4.415M -$6.267M
YoY Change -170.45% 104.27%
Depreciation, Depletion And Amortization $1.942M $4.555M
YoY Change -57.37% 9.34%
Cash From Operating Activities -$4.427M $58.00K
YoY Change -7732.76% -100.99%
INVESTING ACTIVITIES
Capital Expenditures $282.0K $1.030M
YoY Change -72.62% -80.14%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$282.0K -$1.030M
YoY Change -72.62% -80.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.832M 3.778M
YoY Change -201.43% -61.15%
NET CHANGE
Cash From Operating Activities -4.427M 58.00K
Cash From Investing Activities -282.0K -1.030M
Cash From Financing Activities -3.832M 3.778M
Net Change In Cash -8.541M 2.806M
YoY Change -404.38% -309.87%
FREE CASH FLOW
Cash From Operating Activities -$4.427M $58.00K
Capital Expenditures $282.0K $1.030M
Free Cash Flow -$4.709M -$972.0K
YoY Change 384.47% -91.21%

Facts In Submission

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CY2025Q1 us-gaap Proceeds From Long Term Lines Of Credit
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CY2024Q1 us-gaap Proceeds From Long Term Lines Of Credit
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CY2025Q1 us-gaap Repayments Of Lines Of Credit
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CY2024Q1 us-gaap Repayments Of Lines Of Credit
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CY2025Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2024Q1 us-gaap Repayments Of Debt
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CY2025Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
218000
CY2024Q1 us-gaap Repayments Of Secured Debt
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CY2025Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2025Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2852000
CY2025Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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135000
CY2024Q1 us-gaap Notes Reduction
NotesReduction
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CY2025Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2024Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2025Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
-47000
CY2025Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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272000
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0.1
CY2025Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
3567000
CY2025Q1 cvgw Increase Decrease From Noncontrolling Interest Contribution
IncreaseDecreaseFromNoncontrollingInterestContribution
20000
CY2025Q1 us-gaap Net Income Loss
NetIncomeLoss
4415000
CY2025Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1781000
CY2024Q1 cvgw Increase Decrease From Noncontrolling Interest Contribution
IncreaseDecreaseFromNoncontrollingInterestContribution
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CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
202533000
CY2025Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Business</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:14.4pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:14.4pt;margin:0pt;"><span style="white-space:pre-wrap;">Calavo Growers, Inc. (referred to in this report as “Calavo”, the “Company”, “we”, “us” or “our”), is a global leader in the avocado industry and a provider of value-added fresh food. Our expertise in marketing and distributing avocados, prepared avocados, and other perishable foods allows us to deliver a wide array of fresh and prepared food products to retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. We procure avocado products from California, Mexico and other growing regions around the world. Through our various operating facilities, we (i) sort, pack, and/or ripen avocados, tomatoes and/or Hawaiian grown papayas and (ii) process and package guacamole. We distribute our products both domestically and internationally. During the first quarter of fiscal 2025, we changed the name of our ‘Grown’ reportable segment to ‘Fresh’ to more accurately represent the segment’s business activities. This change in title only does not affect the segment’s composition, financial results, or how we assess performance internally. We report our operations in </span>two<span style="white-space:pre-wrap;"> different business segments: Fresh and Prepared.</span></p>
CY2025Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2025Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2025Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2025Q1 cvgw Gross Revenue From Contract With Customer Excluding Assessed Tax
GrossRevenueFromContractWithCustomerExcludingAssessedTax
156051000
CY2024Q1 cvgw Gross Revenue From Contract With Customer Excluding Assessed Tax
GrossRevenueFromContractWithCustomerExcludingAssessedTax
129657000
CY2025Q1 cvgw Sales Incentives
SalesIncentives
1666000
CY2024Q1 cvgw Sales Incentives
SalesIncentives
2051000
CY2025Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154385000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127606000
CY2025Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154385000
CY2025Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
138657000
CY2025Q1 us-gaap Gross Profit
GrossProfit
15728000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127606000
CY2024Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
116846000
CY2024Q1 us-gaap Gross Profit
GrossProfit
10760000
CY2025Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
52519000
CY2024Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
54200000
CY2025Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
24424000
CY2024Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
20002000
CY2025Q1 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
7792000
CY2024Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
6936000
CY2025Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7657000
CY2024Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7219000
CY2025Q1 us-gaap Inventory Net
InventoryNet
39873000
CY2024Q4 us-gaap Inventory Net
InventoryNet
34157000
CY2025Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
300000
CY2024Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
400000
CY2025Q1 us-gaap Value Added Tax Receivable Noncurrent
ValueAddedTaxReceivableNoncurrent
48657000
CY2024Q4 us-gaap Value Added Tax Receivable Noncurrent
ValueAddedTaxReceivableNoncurrent
48739000
CY2025Q1 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
467000
CY2024Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
467000
CY2025Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
667000
CY2024Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
710000
CY2025Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
49791000
CY2024Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
49916000
CY2024Q4 us-gaap Minority Interest
MinorityInterest
1444000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
1392000
CY2025Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
20000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10000
CY2025Q1 us-gaap Minority Interest
MinorityInterest
1464000
CY2024Q1 us-gaap Minority Interest
MinorityInterest
1402000
CY2025Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4435000
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2574000
CY2025Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
20000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10000
CY2025Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
4415000
CY2024Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2584000
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-3683000
CY2025Q1 us-gaap Net Income Loss
NetIncomeLoss
4415000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-6267000
CY2025Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17837000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17799000
CY2025Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
64000
CY2025Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17901000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17799000
CY2025Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.25
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.15
CY2025Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.25
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.15
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.21
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.21
CY2025Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2025Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34000000
CY2025Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2025Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2025Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2025Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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