Fresh Del Monte Produce Inc Stock Price, News & Analysis

Fresh Del Monte Produce (NYSE: FDP) has been awarded the 2025 SEAL Business Sustainability Award in the Environmental Initiative category, marking its fourth recognition in five years. The company achieved its greenhouse gas reduction targets of 27.5% for Scope 1 and Scope 2 emissions seven years ahead of its 2030 goal.

As the first global fruit and vegetable marketer to commit to the Science Based Targets initiative (SBTi), Fresh Del Monte implemented several key strategies to exceed its emissions goals, including:

• Replacing its North American ocean fleet with six new hydrodynamic vessels
• Introducing Del Monte Zero® Pineapple, a carbon-neutral product
• Employing advanced technology to monitor plant nutrients and reduce emissions

The company has now set a new goal of 30% reduction by 2030 compared to its 2019 baseline, while continuing initiatives in regenerative agriculture, waste revalorization, and digital farm management.

Fresh Del Monte Produce (NYSE: FDP) announced that its management team will participate in the Citi 2025 Global Consumer & Retail Conference in Aventura, Florida on March 10, 2025. The company will be available for meetings with institutional investors during the conference. Investors unable to attend can arrange calls with management by contacting the company's Vice President of Investor Relations.

Fresh Del Monte Produce (NYSE: FDP) has announced it will release its fourth quarter and full fiscal 2024 financial results before market opening on Monday, February 24, 2025. The company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss these results.

The call will be led by Chairman and CEO Mohammad Abu-Ghazaleh, Senior VP and CFO Monica Vicente, and VP Investor Relations Christine Cannella. Institutional investors, analysts, and financial community members can join via phone or webcast. The webcast will be available in the Events & Presentations section of Fresh Del Monte's Investor Relations webpage, with an archived replay available after the event.

Guidehouse announced that Chief Operating Officer Charles Beard will transition from his executive role to join the company's Board effective January 1, 2025. Beard, who has served as COO since the firm's inception, was instrumental in developing Guidehouse's global operating platform and establishing its market position. His 30-year career includes executive and board positions in both public and private companies, including current board roles at Fresh Del Monte (NYSE: FDP) and Inova healthcare.

The transition aims to leverage Beard's expertise in operations, technology, and corporate strategy to support Guidehouse's growth and innovation strategy. He will focus on corporate governance, strategic planning, and delivering value for shareholders, clients, and employees in his new board position.

Fresh Del Monte Produce (NYSE: FDP), through its vegetable division Mann Packing, announces a partnership with Newman's Own to launch their first-ever packaged salad kits. The product line, launching in January 2025, will feature four flavors: King of the Caesars™, Rodeo Remix™, Italiano Magnifico™, and Parmesan Powerhouse™. Each kit combines Mann Packing's high-quality lettuce with Newman's Own® signature dressings and premium toppings.

The collaboration aligns with both companies' commitment to social responsibility, as Newman's Own Foundation uses all proceeds from sales to support children facing adversity. The salad kits will be available in grocery stores across North America, offering consumers restaurant-quality meals while supporting charitable causes.

Fresh Del Monte Produce (NYSE: FDP) has appointed Thomas Padilla as Vice President, Avocados (International), effective November 18, 2024. Padilla brings 14 years of produce industry experience, specializing in international and export sales. He will report to Danny Dumas, Senior VP of Sales, Marketing, and Product Management for North America. The appointment aims to strengthen Fresh Del Monte's avocado program, which is a key growth driver, particularly in North America. In his role, Padilla will oversee international avocado operations and strategy, focusing on growth opportunities and partnership strengthening.

Fresh Del Monte Produce (NYSE: FDP) has announced its participation in the Stephens Annual Investment Conference at the Grand Hyatt Nashville Hotel. Senior VP and CFO Monica Vicente, along with VP of Investor Relations Christine Cannella, will engage in a fireside chat on November 20, 2024, at 2:00 p.m. ET. The event will be livestreamed on Fresh Del Monte's investor relations website and available for replay for 90 days. Management will also conduct one-on-one meetings with conference attendees, with meeting arrangements available through Stephens representatives or directly with the investor relations team.

Fresh Del Monte Produce reported strong Q3 2024 financial results with net sales of $1,019.5 million, up from $1,003.1 million in the prior year. Gross margin increased to 9.2% from 7.4%, driven by higher sales volume and prices in fresh and value-added products. Net income rose significantly to $42.1 million compared to $8.4 million in Q3 2023. The company's fresh and value-added products segment saw improved performance with higher sales of avocados and pineapples, while the banana segment experienced decreased sales due to competitive pressures. Long-term debt decreased by 33% to $269.6 million, and the company declared a quarterly dividend of $0.25 per share.

Fresh Del Monte Produce (NYSE: FDP) announced the sale of its Fresh Leaf Farms brand and operations through its vegetable division Mann Packing to First Leaf Farms, a new partnership between the Costa and Nunes families. The sale aligns with Fresh Del Monte's three-pronged strategy for its vegetable division, focusing on operational efficiency, product innovation, and non-core asset divestment. Mann Packing will continue prioritizing its core vegetable line and signature innovations while utilizing First Leaf Farms' logistics network through the Yuma season. The Costa family will manage production and operations, while The Nunes Company will oversee sales and marketing for First Leaf Farms.