Calavo Growers, Inc. Reports Net Loss in Q3 2023 Amidst Declining Revenue
The Company's Revenue Drops to $259.9 Million in Q3 2023
By USInMinutes
Published - Sep 07, 2023, 02:06 PM ET
Last Updated - Aug 23, 2024, 06:24 AM EDT
Calavo Growers, Inc.(CVGW), a leading provider of fresh avocados and other fresh food products, has released its financial results for the third quarter of 2023. The company reported a net loss for the quarter as its revenue experienced a significant decline compared to the same period last year.
Net Income/Loss Analysis
In the third quarter of 2023, Calavo Growers, Inc. reported a net loss of $6.7 million. This marked a sharp contrast to the same period in 2022 when the company posted a net income of $1.3 million. The decrease in net income can be attributed to various factors, including increased expenses and changes in market dynamics.
Revenue Decline
