CALAVO GROWERS INC

CIK:0001133470|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2026	Jan. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Net sales	$ 122,202	$ 154,385
Cost of sales	107,018	138,657
Gross profit	15,184	15,728
Selling, general and administrative	16,401	10,287
Expenses related to Mexican tax matters	230	395
Operating income (loss)	(1,447)	5,046
Foreign currency gain (loss)	2,590	(962)
Interest income	542	845
Interest expense	(129)	(213)
Other income, net	265	112
Income before income taxes and net income (loss) from unconsolidated entities	1,821	4,828
Provision for income taxes	(473)	(1,255)
Net (loss) income from unconsolidated entities	(544)	862
Net income	804	4,435
Less: Net income attributable to noncontrolling interest	(72)	(20)
Net income attributable to Calavo Growers, Inc.	$ 732	$ 4,415
Earnings Per Share, Basic
Basic (in dollars per shares)	$ 0.04	$ 0.25
Earnings Per Share, Diluted
Diluted (in dollars per share)	$ 0.04	$ 0.25
Number of shares used in per share computation:
Basic (in shares)	17,874	17,837
Diluted (in shares)	17,894	17,901

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2026	Jan. 31, 2025
Cash Flows from Operating Activities:
Net income	$ 804	$ 4,435
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,754	1,942
Non-cash operating lease expense	(65)	(64)
Net loss (income) from unconsolidated entities	544	(862)
Stock-based compensation expense	1,773	272
Amortization of debt issuance costs	46
Gain on sale of Temecula packinghouse	(55)	(54)
(Gain) loss on disposal of property, plant, and equipment	(3)	33
Effect on cash of changes in operating assets and liabilities:
Accounts receivable, net	(8,910)	(5,179)
Inventories	(4,166)	(5,716)
Prepaid expenses and other current assets	(1,466)	(1,538)
Advances (from) to suppliers	(2,149)	4,295
Income taxes receivable/payable	60	1,348
Other assets	(5,044)	125
Payable to (from) growers	4,259	(2,980)
Trade accounts payable, accrued expenses and other liabilities	3,960	(484)
Net cash used in operating activities	(8,658)	(4,427)
Cash Flows from Investing Activities:
Purchases of property, plant, and equipment	(788)	(282)
Net cash used in investing activities	(788)	(282)
Cash Flows from Financing Activities:
Payment of dividend to shareholders	(3,576)	(3,567)
Proceeds from revolving credit facility		114
Payments on revolving credit facility		(114)
Payments of minimum withholding taxes on net share settlement of equity awards	(218)	(47)
Payments on long-term obligations and finance leases	(245)	(218)
Net cash used in financing activities	(4,039)	(3,832)
Net decrease in cash, cash equivalents	(13,485)	(8,541)
Cash, cash equivalents, beginning of period	61,155	57,031
Cash, cash equivalents, end of period	47,670	48,490
Noncash Investing and Financing Activities:
Settlement of Agricola Belher infrastructure advance offset against payable to growers	81
Property, plant, and equipment included in trade accounts payable and accrued expenses	$ 3	$ 12

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jan. 31, 2026	Oct. 31, 2025
Current assets:
Cash and cash equivalents	$ 47,670	$ 61,155
Accounts receivable, net of allowances of $2,539 (2026) and $3,336 (2025)	40,557	31,647
Inventories	37,770	33,604
Prepaid expenses and other current assets	9,034	7,649
Advances to suppliers	15,305	13,075
Income taxes receivable	2,296	2,296
Total current assets	152,632	149,426
Property, plant, and equipment, net	48,524	49,435
Operating lease right-of-use assets	15,518	16,333
Investments in unconsolidated entities	1,666	2,210
Deferred income tax assets	8,317	8,317
Goodwill	10,211	10,211
Other assets	61,315	56,317
Total assets	298,183	292,249
Current liabilities:
Payable to growers	19,612	15,353
Trade accounts payable	7,351	8,374
Accrued expenses	26,518	21,237
Income tax payable	123	63
Mexico tax liability	11,000	11,000
Current portion of operating leases	3,602	3,568
Current portion of finance leases	875	885
Total current liabilities	69,081	60,480
Long-term liabilities:
Long-term portion of operating leases	14,048	14,962
Long-term portion of finance leases	3,871	4,051
Other long-term liabilities	3,842	4,198
Total long-term liabilities	21,761	23,211
Commitments and contingencies (Note 6)
Shareholders' equity:
Common stock ($0.001 par value, 100,000 shares authorized; 17,874 (2026) and 17,855 (2025) shares issued and outstanding)	18	18
Additional paid-in capital	180,637	179,082
Retained earnings	24,996	27,840
Total Calavo Growers, Inc. shareholders' equity	205,651	206,940
Noncontrolling interest	1,690	1,618
Total shareholders' equity	207,341	208,558
Total liabilities and shareholders' equity	$ 298,183	$ 292,249