Calavo Growers Delays Release Of Its Q4 And FY23 Financial Results; Will Apply For Form 12b-25 Will Allow The Co An Automatic Extension Of 15 Calendar Days To File The Form 10-K; Expects To Report Net Sales Decreased ~18% To $972M For The Year Ended Oct 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Calavo Growers, Inc. (NASDAQ:CVGW) has announced a delay in releasing its Q4 and FY23 financial results due to an internal investigation into its operations in Mexico. The company will file a Form 12b-25 for an extension to submit its Form 10-K. Preliminary results indicate an 18% decrease in net sales to $972M for the year ended October 31, 2023. The company is working to complete the investigation and financial statements for a timely filing.
January 16, 2024 | 9:56 pm
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Calavo Growers is delaying its Q4 and FY23 financial results release and applying for an extension to file its Form 10-K due to an internal investigation. Preliminary results show a significant sales decline.
The delay in financial reporting and the internal investigation into Calavo Growers' operations are likely to create uncertainty among investors, potentially leading to a negative short-term impact on the stock price. The preliminary report of a significant decrease in sales further contributes to potential investor concerns.
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