Calavo (CVGW) Set to Announce Earnings Tomorrow: What You Should Know

Calavo Growers Set to Release Earnings Report

Calavo Growers (NASDAQ:CVGW), a company specializing in fresh produce, is scheduled to announce its latest earnings after the market closes this Wednesday. Here’s a summary of what investors should keep in mind.

In the previous quarter, Calavo reported revenue of $178.8 million, which was unchanged from the prior year and fell 7% short of analyst projections. The company also missed expectations for gross margin, indicating a slower period for its business.

Wondering whether Calavo is a good investment ahead of its earnings release?

Analyst Expectations for This Quarter

For the upcoming quarter, analysts predict Calavo’s revenue will drop by 12.9% year over year to $148 million. This marks a shift from the 19.5% growth seen in the same period last year. Adjusted earnings per share are anticipated to be $0.37.

Calavo Total Revenue

Over the past month, analysts have largely maintained their forecasts, suggesting they expect Calavo’s performance to remain consistent as earnings approach. Notably, Calavo has failed to meet Wall Street’s revenue expectations in five of the last eight quarters.

Industry Peers: Recent Performance

Several other companies in the consumer staples sector have already shared their third-quarter results, offering some context for Calavo’s upcoming report. Mission Produce saw its revenue decline by 10% year over year but still surpassed analyst estimates by 8.5%. United Natural Foods, meanwhile, reported flat revenue, missing expectations by 0.9%. Following these announcements, Mission Produce’s stock price remained steady, while United Natural Foods’ shares dropped by 3%.

Market Sentiment and Price Targets

Investor sentiment in the consumer staples sector has been stable, with share prices holding steady over the past month. Calavo’s stock has risen 3.1% during this period. The average analyst price target for Calavo stands at $32.50, compared to its current price of $22.18.

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