Calavo Growers, Inc.

Calavo Growers reported Q1 2026 net sales of $122.2 million, a 21% decrease from $154.4 million in Q1 2025. Net income attributable to Calavo was $732 thousand, down 83% from $4.4 million in the prior year quarter. The decline was driven by a 25% decrease in Fresh segment sales due to lower avocado and tomato pricing, partially offset by a 20% increase in Prepared segment sales. Gross profit decreased 3% to $15.2 million, with gross margin improving to 12.4% from 10.2%. The company reported an operating loss of $1.4 million compared to operating income of $5.0 million in Q1 2025, primarily due to $16.4 million in SG&A expenses that included $4.9 million of M&A-related costs for the pending Mission Produce merger. Cash used in operations was $8.7 million, and cash balance decreased to $47.7 million from $61.2 million at the start of the quarter.

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