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Calavo Growers fiscal Q1 profit climbs 49.9% YOY

Calavo Growers Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 30 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS increased 36.1% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.1 million, an increase of 49.9% from $3.4 million in the year-earlier period.

The normalized profit margin climbed to 2.6% from 2.0% in the year-earlier period.

Total revenue grew 15.8% year over year to $194.8 million from $168.2 million, and total operating expenses increased 14.5% from the prior-year period to $186.5 million from $162.8 million.

Reported net income came to $5.4 million, or 31 cents per share, compared to a loss of $1.7 million, or a loss of 11 cents per share, in the prior-year period.