Stock Monitor: Limoneira Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 11, 2018 / Active-Investors.com has just released a free earnings report on Calavo Growers, Inc. (NASDAQ: CVGW) ("Calavo"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CVGW. The Company reported its fourth quarter and fiscal 2017 operating results on December 19, 2017. The global avocado-industry leader and expanding provider of value-added fresh food's full-year revenues surpassed $1 billion for the first time in the Company's history; gross margin dollars reached a new record level; and adjusted net income matched the all-time high set in the year ago same period. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Limoneira Company (NASDAQ: LMNR), which also belongs to the Consumer Goods sector as the Company Calavo Growers. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Calavo Growers most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended October 31, 2017, Calavo's revenues advanced 12% to $277.2 million compared to $247.7 million in Q4 FY16. The double-digit revenue growth was powered by higher sales in each of the Company's three business segments, most notably in the Renaissance Food Group (RFG) unit. Calavo's revenue numbers fell short of analysts' estimates by $9.6 million.
For the fiscal year 2017, Calavo's revenues grew 15% to $1.1 billion from $935.7 million in the preceding year.
During Q4 FY17, Calavo's gross margin climbed 16% to $31.5 million, equal to 11.4% of revenues, compared to $27.1 million, or 10.9% of revenues, in Q4 FY16. The Company's selling, general, and administrative expenses (SG&A) reached $14.7 million, equal to 5.3% of total revenues, in the reported quarter versus $11.6 million, or 4.7% of total revenues, in Q4 FY16. The y-o-y increase in SG&A was primarily due to a change in presentation of RFG broker commissions, as well as an increase in headcount associated with the Company's growth initiatives.
For Q4 FY17, Calavo's operating income of $16.8 million reflected an 8% increase from the operating income of $15.5 million in Q4 FY16.
Calavo's net income rose 11% to $10.3 million, equal to $0.59 per diluted share, in Q4 FY17 compared to a net income of $9.2 million, or $0.53 per diluted share, in Q4 FY16. The Company's earnings surpassed Wall Street's estimates of $0.50 per share.
For the year ended October 31, 2017, Calavo's net income equaled $37.3 million, or $2.13 per diluted share. The Company's full-year results included approximately $1.2 million in operating expenses related to senior management team transitions during Q1 FY17, totaling approximately $0.8 million, or $0.04 per diluted share. Excluding these operating expenses, Calavo's adjusted net income totaled $38.0 million, or $2.17 per diluted share, in FY17 versus $38.0 million, or $2.18 per diluted share, in FY16.
During Q4 FY17, Calavo's Fresh business segment's revenues edged upward to $146.1 million, compared to $143.4 million in Q4 FY16. The segment's gross margin jumped by approximately 57% to $23.8 million, or 16.3% of segment sales, in Q4 FY17 from $15.2 million, equal to 10.6% of segment sales, in Q4 FY16. The total Fresh unit volume was 2.9 million in Q4 FY17 compared to 3.2 million in Q4 FY16.
Calavo's revenues in the RFG business segment rose 26% to $110.6 million in Q4 FY17 compared to $87.9 million in Q4 FY16, representing the 25th consecutive quarter of double-digit, y-o-y growth in the segment. The segment's gross margin was $6.1 million, or 5.6% of segment sales, in the reported quarter versus $7.4 million, or 8.4% of segment sales, in the year ago comparable period.
Calavo's Foods business segment's revenues advanced 25% to $20.5 million in Q4 FY17 from $16.4 million in Q4 FY16. The segment's gross margin totaled $1.6 million, or 7.7% of segment sales, compared to $4.6 million, or 27.8%, in Q4 FY16. The segment's top-line growth was attributable to higher sales volumes as well as price increases.
As of October 31, 2017, Calavo's cash and cash equivalents totaled $6.63 million compared to $13.84 million as of October 31, 2016.
Stock Performance Snapshot
January 10, 2018 - At Wednesday's closing bell, Calavo Growers' stock fell 1.52%, ending the trading session at $87.35.
Volume traded for the day: 253.64 thousand shares, which was above the 3-month average volume of 142.97 thousand shares.
Stock performance in the last month – up 21.49%; previous three-month period – up 20.82%; past twelve-month period – up 45.83%; and year-to-date – up 3.50%
After yesterday's close, Calavo Growers' market cap was at $1.53 billion.
Price to Earnings (P/E) ratio was at 41.07.
The stock has a dividend yield of 1.09%.
The stock is part of the Consumer Goods sector, categorized under the Farm Products industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.