US produce group Calavo Growers saw its share price slide in afternoon trading yesterday (5 June) as second-quarter earnings came in below market expectations.

In the three months to the end of January, net profit amounted to US$2.7m, a 1.1% increase on the prior year. Analysts polled by FactSet were expecting higher earnings of 37 cents per share.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The California-based company has been investing heavily to promote its fresh avocado business. So while sales were up 18.8% to $139.5bn in the period, profit shrank on these costs.

Operating profit in the period fell 2.5% to $4.3m.

The company’s shares fell around 3% to $29.20 in afternoon trading.

Click here to view the full earnings release.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now