Calavo Growers Second Quarter 2023 Earnings: Misses Expectations
Calavo Growers (NASDAQ:CVGW) Second Quarter 2023 Results
Key Financial Results
Revenue: US$244.7m (down 26% from 2Q 2022).
Net loss: US$4.00m (loss widened by US$3.80m from 2Q 2022).
US$0.23 loss per share (further deteriorated from US$0.011 loss in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Calavo Growers Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 12%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Food industry in the US.
Performance of the American Food industry.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. See our latest analysis on Calavo Growers' balance sheet health.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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