Published on 20 Jan 2024 on GuruFocus.com via Yahoo Finance
Calavo Growers Inc (CVGW) Reports Decline in Annual Net Sales by 18%
Net Sales: Calavo Growers Inc (NASDAQ:CVGW) expects an 18% decrease in net sales to $972 million for the fiscal year ended October 31, 2023.Gross Profit Margin: Gross profit as a percentage of revenue for the full fiscal year 2023 is projected to be modestly lower than the first nine months.Internal Investigation: A Special Committee is conducting an internal investigation into the companys operations in Mexico, delaying the annual report filing.Financial Statement Impact: The company does not believe the matters under investigation affect any previously issued financial statements.Filing Extension: Calavo Growers Inc (NASDAQ:CVGW) has filed a Form 12b-25, granting a 15-day extension to file the Form 10-K.
Warning! GuruFocus has detected 5 Warning Signs with CVGW.
On January 16, 2024, Calavo Growers Inc (NASDAQ:CVGW) announced a delay in the release of its fourth quarter and fiscal year 2023 financial results, as detailed in its 8-K filing. The company, a global leader in the avocado industry and provider of value-added fresh food, has filed a Form 12b-25 with the U.S. Securities and Exchange Commission, allowing for an additional 15 days beyond the original January 16, 2024 deadline to file its annual report on Form 10-K for the fiscal year ended October 31, 2023.