Welcome to our dedicated page for Fresh Del Monte Produce news (Ticker: FDP), a resource for investors and traders seeking the latest updates and insights on Fresh Del Monte Produce stock.
Fresh Del Monte Produce Inc (NYSE: FDP) maintains its position as a vertically integrated leader in fresh and prepared foods through strategic operational updates and market-responsive initiatives. This dedicated news hub provides investors and industry observers with direct access to official announcements, including earnings disclosures, supply chain developments, and product innovation milestones.
Users will find curated updates spanning three key areas: financial performance through quarterly results and SEC filings, operational advancements in global distribution and vertical integration, and market leadership initiatives including sustainable agriculture practices and fresh-cut product innovations. The repository serves as a primary source for understanding the company's strategic direction within the $1.3 trillion global fresh produce market.
Bookmark this page for real-time access to Fresh Del Monte Produce's verified corporate communications, including merger disclosures, leadership updates, and quality assurance enhancements across its North American, European, and Asian operations.
Fresh Del Monte Produce (NYSE: FDP), through its vegetable division Mann Packing, has signed a licensing agreement with The Nunes Company to expand the distribution of Broccolini® baby broccoli. This strategic partnership will make the premium vegetable brand more widely available while maintaining its quality standards.
Broccolini®, exclusively trademarked by Mann Packing in 1998, is known for its tender stalks, delicate florets, and mild, sweet taste. The Nunes Company, founded in 1976 and known for its Foxy® brand, will market and sell Broccolini® under the Foxy® label in the coming months. This collaboration follows their previous partnership in 2024 with Fresh Leaf Farms.
Fresh Del Monte (NYSE: FDP) has appointed Deema Anani as Chief Commercial Officer for Specialty Ingredients, based in Dubai. Anani will report to Chairman and CEO Mohammad Abu-Ghazaleh and focus on driving commercial growth within Specialty Ingredients and Innovation.
She joins Dr. Nizar Haddad (innovation lead) and Dr. Imad Farhat (specialty ingredients lead) to spearhead Fresh Del Monte's Biomass initiative, launched in 2024. This initiative aims to transform residues and byproducts into high-value solutions for soil health, wellness, and circular economy applications.
Anani brings over 20 years of experience in revenue optimization and commercial development, previously serving as CCO at Queen Alia International Airport's Airport International Group. She holds a bachelor's degree from the American University of Beirut and an MBA from the University of Edinburgh.
Fresh Del Monte Produce (NYSE: FDP) reported its Q4 and full fiscal year 2024 results, highlighting strong performance in fresh and value-added products segment. Q4 net sales reached $1,013.2 million, up from $1,008.6 million year-over-year, with net income of $20.4 million compared to a loss of $106.4 million in the prior year.
For full fiscal year 2024, the company achieved net sales of $4,280.2 million and net income of $142.2 million. Notable achievements include a 39% reduction in long-term debt to $244.1 million and increased gross margins in fresh and value-added products to 9.3% from 6.8%. The company's performance was driven by strong results in pineapples, avocados, and fresh-cut fruit segments.
The Board declared an increased quarterly dividend of $0.30 per share, marking the third consecutive year of dividend growth. Operating cash flow improved to $182.5 million from $177.9 million in the previous year.
Fresh Del Monte Produce (NYSE: FDP) has announced a significant capital allocation strategy update, featuring a $150 million share repurchase program with no time deadline and a 20% increase in quarterly dividend from $0.25 to $0.30 per share. The next dividend payment is scheduled for March 28, 2025, for shareholders of record as of March 10, 2025.
The share repurchase program will be executed through open market transactions in compliance with Rule 10b-18, privately negotiated transactions, or other legally compliant methods. The company will fund these repurchases through cash on hand, operational cash flow, and its revolving credit facility. All repurchased shares will be retired.
Chairman and CEO Mohammad Abu-Ghazaleh emphasized that this initiative is part of a broader strategy focusing on strategic growth investments, maintaining a strong balance sheet, and returning capital to shareholders.
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.
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