** Calavo Growers' CVGW.O shares down 17.3% at $22.90, a two month low, on Tues after qtrly results miss estimates
** CVGW on course for biggest daily pct decline since Mar 7, 2023
** Santa Paula, California-based firm late Mon posted adj EPS of 40 cents, down from 51 cents a yr ago, while rev increased ~3% y/y to $190.5 mln
** Avg estimates among 3 brokerages providing data were adj EPS of 53 cents and rev of $201.5 mln, according to LSEG
** Gross profit per carton improved in Q2, driven by stronger avocado margins, despite a $0.9 mln negative impact from tariffs levied primarily on U.S.-Mexico-Canada Agreement (USMCA)-compliant goods sourced from Mexico for the three days they were in effect during March, co said in the statement
** Co said, however, total gross profit declined mainly due to lower volumes in both avocados and tomatoes
** With move on Tues, CVGW down ~10% YTD vs Nasdaq's .IXIC nearly 2% advance
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@thomsonreuters.commailto:lance.tupper@tr.com 1-646-279-6380))
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