Calavo Growers' Q1 Adjusted EPS Falls to $0.27 on Lower Sales, Net Income Plunges
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Calavo Growers reported its first quarter 2026 financial results, showing a significant year-over-year decline in key metrics. Total net sales decreased to $122.2 million from $154.4 million, while adjusted net income per diluted share fell to $0.27 from $0.35. Net income plummeted to $0.7 million compared to $4.4 million in the prior year, largely due to a 25% decrease in Fresh segment sales driven by a 35% decline in average avocado selling prices. The company also incurred $7.2 million in non-recurring, primarily M&A-related expenses. This material drop in profitability is a negative development for the company, despite a 20% increase in Prepared segment sales. Traders will be watching for further updates on avocado pricing and the progress of the Mission Produce merger, which is targeted to close in Q3 2026.
At the time of this announcement, CVGW was trading at $24.99 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $446.7M. The 52-week trading range was $18.40 to $28.72. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.