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Segment Information

12 Months Ended

Oct. 31, 2024

Segment Information

Segment Information

10. Segment Information

​

Prior to the decision to divest our Fresh Cut business (formerly RFG), the Company’s Prepared reporting segment included the Fresh Cut business unit and our Guacamole business. As a result of the divestiture, the Fresh Cut business unit is no longer included in our Prepared business segment and is not included in the tables below. All segment information included herein reflects these changes. See Note 16 for further information.

​

We report our operations in two different business segments: Grown and Prepared. The Grown segment consists of fresh avocados, tomatoes and papayas. The Prepared segment consists of our guacamole products sold to retailers and foodservice companies as well as avocado pulp sold to foodservice companies. These two business segments are presented based on how information is used by our Chief Executive Officer to measure performance and allocate resources. Selling, general and administrative expenses, as well as other non-operating income/expense items, are evaluated by our Chief Executive Officer in the aggregate. We do not allocate assets, or specifically identify them, to our operating segments.

​

The following table sets forth sales, cost of sales, and gross profit by segment (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​
​		​			​			​	​	​
​	​	Grown		​	Prepared		​	Total		​
​	​	(All amounts are presented in thousands)								​
Year ended October 31, 2024	​	​	​	​	​	​	​	​	​	​
Net sales	​	$	597,624	​	$	63,920	​	$	661,544	​
Cost of sales	​	​	542,356	​	​	51,384	​	​	593,740	​
Gross profit	​	$	55,268	​	$	12,536	​	$	67,804	​
​	​	​	​	​	​	​	​	​	​	​
Year ended October 31, 2023	​	​	​	​	​	​	​	​	​	​
Net sales	​	$	527,396	​	$	66,706	​	$	594,102	​
Cost of sales	​	​	476,862	​	​	54,628	​		531,490	​
Gross profit	​	$	50,534	​	$	12,078	​	$	62,612	​
​	​	​	​	​	​	​	​	​	​	​
Year ended October 31, 2022	​	​	​	​	​	​	​	​	​	​
Net sales	​	$	698,205	​	$	71,486	​	$	769,691	​
Cost of sales	​	​	648,040	​	​	66,909	​	​	714,949	​
Gross profit	​	$	50,165	​	$	4,577	​	$	54,742	​

​

The following table sets forth sales by product category, by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended October 31, 2024

​

Year Ended October 31, 2023

​

​

​

Grown

​

Prepared

​

Total

​

Grown

​

Prepared

​

Total

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Avocados

​

​

$

534,413

​

$

—

​

$

534,413

​

$

466,385

​

$

—

​

$

466,385

​

Tomatoes

​

​

54,660

​

—

​

54,660

​

54,669

​

—

​

54,669

​

Papayas

​

​

11,573

​

—

​

11,573

​

10,432

​

—

​

10,432

​

Other fresh income

​

​

8

​

—

​

8

​

100

​

—

​

100

​

Guacamole

​

​

​

​

​

​

71,468

​

​

71,468

​

​

—

​

​

73,068

​

​

73,068

​

Salsa

​

​

—

​

—

​

—

​

—

​

796

​

796

​

Total gross sales

​

​

600,654

​

71,468

​

672,122

​

531,586

​

73,864

​

605,450

​

Less sales allowances

​

​

(3,030)

​

​

(7,548)

​

(10,578)

​

(4,190)

​

​

(7,158)

​

(11,348)

​

Net sales

​

​

$

597,624

​

$

63,920

​

$

661,544

​

$

527,396

​

$

66,706

​

$

594,102

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended October 31, 2023

​

Year Ended October 31, 2022

​

​

​

Grown

​

Prepared

​

Total

​

Grown

​

Prepared

​

Total

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Avocados

​

​

$

466,385

​

$

—

​

$

466,385

​

$

645,944

​

$

—

​

$

645,944

Tomatoes

​

​

54,669

​

—

​

54,669

​

45,223

​

—

​

45,223

Papayas

​

​

10,432

​

—

​

10,432

​

11,422

​

—

​

11,422

Other fresh income

​

​

100

​

—

​

100

​

123

​

—

​

123

Guacamole

​

​

​

—

​

​

73,068

​

​

73,068

​

​

—

​

​

77,143

​

​

77,143

Salsa

​

​

—

​

796

​

796

​

—

​

1,860

​

1,860

Total gross sales

​

​

531,586

​

73,864

​

605,450

​

702,712

​

79,003

​

781,715

Less sales allowances

​

​

(4,190)

​

(7,158)

​

(11,348)

​

(4,507)

​

​

(7,517)

​

(12,024)

Net sales

​

​

$

527,396

​

$

66,706

​

$

594,102

​

$

698,205

​

$

71,486

​

$

769,691

​

Sales to customers outside the U.S. were approximately $38.6 million, $34.6 million and $27.8 million for fiscal years 2024, 2023, and 2022, respectively.

​

Our goodwill balance of $10.2 million is attributed by segment to Grown for $4.0 million and Prepared for $6.2 million as of October 31, 2024 and 2023.

​

Long-lived assets attributed to geographic areas as of October 31, are as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​		United States			Mexico			Consolidated
October 31, 2024	​	$	24,531	​	$	29,669	​	$	54,200
October 31, 2023	​	$	25,986	​	$	34,938	​	$	60,924

​

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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