v3.26.1
Segment and Revenue Information
 9 Months Ended
Jul. 31, 2026
Segment Reporting [Abstract]  
Segment and Revenue Information Segment and Revenue Information
We have four operating segments which are also reportable segments. Our reportable segments are presented based on how information is used by our CEO, who is the chief operating decision maker, to measure performance and allocate resources.
•Marketing & Distribution. Our Marketing & Distribution reportable segment sources fruit from growers and then distributes the fruit through our global distribution network. The former “Fresh” business of Calavo is included in this segment.
•Prepared Foods. Includes prepared products, such as packaged guacamole and salsas, sold to retail and foodservice customers. This segment is equivalent to the acquired “Prepared Foods” business of Calavo.
•International Farming. International Farming owns and operates orchards from which the vast majority of fruit produced is sold to our Marketing & Distribution segment. The segment’s farming activities range from cultivating early-stage plantings to harvesting from mature trees. It also earns service revenues for packing and processing fruit for both our Blueberries segment, as well as for third-party producers of other crops. Operations are principally located in Peru and Guatemala.
•Blueberries. The Blueberries segment consists of farming activities that include cultivating early-stage blueberry plantings and harvesting mature bushes. Substantially all blueberries produced are sold to a single distributor under an exclusive marketing agreement.
The following table provides information for each of our reportable segments and reconciliations to consolidated income before taxes.
(In millions)Marketing & DistributionPrepared FoodsInternational FarmingBlueberries
Total
Three months ended July 31, 2026:
Third-party sales
$414.3 $15.5 $14.8 $5.4 $450.0 
Affiliated sales— 31.0 — 31.0 
(In millions)Marketing & DistributionPrepared FoodsInternational FarmingBlueberries
Total
414.3 15.5 45.8 5.4 481.0 
Reconciliation of revenue
Elimination of affiliated sales
(31.0)
Total consolidated sales
450.0 
Less:
Segment cost of sales(1)
376.5 16.8 40.9 2.1 
Segment selling, general and administrative expenses(2)
36.7 2.8 3.8 0.9 
Segment operating (loss) income1.1 (4.1)1.1 2.4 0.5 
Interest expense
(5.1)
Equity method income
1.9 
Other expense, net(2.5)
Loss before income taxes$(5.2)
Three months ended July 31, 2025:
Third-party sales
$344.1 $— $9.1 $4.5 $357.7 
Affiliated sales— — 39.9 — 39.9 
344.1 — 49.0 4.5 397.6 
Reconciliation of revenue
Elimination of affiliated sales
(39.9)
Total consolidated sales
357.7 
Less:
Segment cost of sales(1)
310.8 — 38.0 3.7 
Segment selling, general and administrative expenses(2)
18.8 — 4.3 1.0 
Segment operating income (loss)14.5 — 6.7 (0.2)21.0 
Interest expense
(2.4)
Equity method income
2.0 
Other expense, net(0.8)
Income before income taxes
$19.8 
Nine months ended July 31, 2026:
Third-party sales
$926.3 $15.5 $20.5 $57.2 $1,019.5 
Affiliated sales— — 43.6 — 43.6 
926.3 15.5 64.1 57.2 1,063.1 
Reconciliation of revenue
Elimination of affiliated sales
(43.6)
Total consolidated sales
$1,019.5 
Less:
Segment cost of sales(1)
840.8 16.8 57.5 51.2 
Segment selling, general and administrative expenses(2)
87.1 2.8 9.1 1.8 
Segment operating (loss) income(1.6)(4.1)(2.5)4.2 (4.0)
Interest expense
(8.7)
Equity method income
4.7 
Other income, net
(4.9)
Loss before income taxes$(12.9)
Nine months ended July 31, 2025:
Third-party sales
$1,002.4 $— $13.2 $56.6 $1,072.2 
Affiliated sales— — 53.1 — 53.1 
1,002.4 — 66.3 56.6 1,125.3 
(In millions)Marketing & DistributionPrepared FoodsInternational FarmingBlueberries
Total
Reconciliation of revenue
Elimination of affiliated sales
(53.1)
Total consolidated sales
$1,072.2 
Less:
Segment cost of sales(1)
923.2 — 52.0 45.1 
Segment selling, general and administrative expenses(2)
55.3 — 9.0 3.5 
Segment operating income (loss)23.9 — 5.3 8.0 37.2 
Interest expense
(7.1)
Equity method income
3.7 
Other income, net
0.1 
Income before income taxes
$33.9 
(1)Segment cost of sales for each reportable segment included:
•Marketing & Distribution—fruit costs, employee-related expenses, freight, packaging costs, depreciation, and other costs.
•Prepared Foods—raw materials and ingredients, production costs, employee-related expenses, freight, depreciation, and other costs.
•International Farming and Blueberries—employee-related expenses, farming costs, packaging costs, depreciation and other costs.
(2)Segment selling, general and administrative expenses for each reportable segment included employee-related expenses including performance-based stock compensation expense and statutory profit-sharing expense, professional fees, transaction advisory and integration costs, and other general corporate expenses.

Supplemental information by segment is as follows.
Three Months Ended
July 31,		Nine Months Ended
July 31,
(In millions)2026202520262025
Depreciation and amortization expense by segment:
Marketing & Distribution$8.5 $3.1 $15.0 $11.8 
Prepared Foods0.8 — 0.8 — 
International Farming5.3 4.9 9.0 8.4 
Blueberries
0.3 0.4 6.0 3.9 
Total
$14.9 $8.4 $30.8 $24.1 
Purchases of property, plant and equipment by segment:
Marketing & Distribution$1.7 $2.4 $6.0 $4.6 
Prepared Foods0.1 — 0.1 — 
International Farming6.3 6.7 18.2 24.3 
Blueberries
1.0 2.7 7.7 10.9 
Total
$9.1 $11.8 $32.0 $39.8 
Supplemental sales information is as follows.
Three Months Ended
July 31,		Nine Months Ended
July 31,
(In millions)2026202520262025
By type
Avocado$398.2 $327.0 $865.8 $938.8 
Blueberry5.4 4.5 57.2 56.6 
Mango24.2 22.8 68.0 67.5 
Prepared foods15.5 — 15.5 — 
Other6.7 3.4 13.0 9.3 
Total net sales$450.0 $357.7 $1,019.5 $1,072.2 
By customer location
United States$354.3 $279.5 $793.7 $862.2 
Rest of world95.7 78.2 225.8 210.0 
Total net sales$450.0 $357.7 $1,019.5 $1,072.2