Calavo Growers Rises In Pre-market On Upbeat Q2 Results

(RTTNews) - Shares of Calavo Growers, Inc. (CVGW), a marketer and distributor of avocados and other perishable goods, were rising more than 14 percent in pre-market on Tuesday to $28.73, after reporting upbeat second-quarter results above analyst' view.

Net income from continuing operations for the second quarter increased to $6.51 million, or $0.36 per share from $1.45 million, or $0.08 per share for the same period last year.

Excluding one-time items, earnings were $8.9 million or $0.50 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.36 per share.

Sales for the quarter increased 16.5 percent year-on-year to $184.38 million. The consensus estimate was for $160.46 million.

Calavo shares had closed at $24.99, down 1.65 percent on Monday. The stock has traded in the range of $21.42 - $38.97 in the last 1 year.