Fresh Del Monte Produce Inc Stock Price, News & Analysis

Fresh Del Monte Produce Inc. (NYSE: FDP) reported its Q4 and fiscal year 2021 results, revealing a net sales increase of 2% to $1,017.3 million in Q4 and a 1% rise for the year, totaling $4,252.0 million. The company faced a net loss of $(11.2) million in Q4 but achieved a net income of $80.0 million for the year, with diluted EPS rising 63% to $1.68. Adjusted EBITDA for Q4 was $14.8 million, while full-year Adjusted EBITDA climbed to $206.8 million. A quarterly dividend of $0.15 per share was declared, payable April 1, 2022.

Fresh Del Monte Produce Inc. (NYSE: FDP) will release its fourth quarter and fiscal year 2021 results on February 23, 2022, before market opening. A conference call will follow at 10:00 a.m. ET, led by CEO Mohammad Abu-Ghazaleh, CFO Eduardo Bezerra, and VP Ana Miranda. The event will be accessible on Fresh Del Monte's Investor Relations page, with participants able to join via phone. An audio replay will be available for one year post-call.

Fresh Del Monte Produce Inc. participated in the GreenBiz conference, emphasizing the significance of biodiversity conservation in agriculture. Chief Sustainability Officer Hans Sauter stated that addressing biodiversity loss and soil degradation is crucial for sustainable business practices.

The company has planted over 1 million trees since 2016 and is committed to a three-year partnership in Costa Rica and Guatemala for sustainable landscape management. As part of the 1t.org Corporate Alliance, Fresh Del Monte aims to plant 2.5 million trees and conserve 10,000 hectares by 2025.

Fresh Del Monte Produce has received approval from the Science Based Targets initiative (SBTi) for its emissions reduction targets, which align with the Paris Agreement's goals. The company aims to reduce greenhouse gas emissions by 27.5% (scopes 1 and 2) and 12.3% from its value chain (scope 3) by 2030. This initiative positions Fresh Del Monte as a pioneer among agricultural producers committed to science-based climate action, with 63% of its capital expenditures directed toward climate initiatives last year. Chief Sustainability Officer Hans Sauter emphasizes the company's role in driving sustainability in the food system.

Fresh Del Monte Produce Inc. (NYSE: FDP) reported Q3 2021 net sales of $1,004.8 million, up 2% from $989.7 million in Q3 2020. Gross profit dropped significantly to $48.9 million from $67.3 million, largely due to inflation and supply chain pressures. Net income fell to $1.3 million ($0.03 EPS) compared to $17.4 million ($0.37 EPS) a year ago. Despite challenges, year-to-date net income rose to $91.2 million, reflecting a strong first half. The company is facing labor shortages and increased costs but is implementing price increases to manage inflationary pressures.

Fresh Del Monte Produce Inc. (NYSE: FDP) is raising prices on bananas, pineapples, and fresh-cut fruit starting November 1, 2021, due to ongoing inflationary pressures and rising production costs. CEO Mohammad Abu-Ghazaleh stated that mitigating these costs has proven challenging, necessitating price increases to sustain supply and service levels. While responding to immediate cost challenges, the company remains committed to its long-term growth strategy, focusing on innovation, efficiency, and strengthening its market position through vertical integration.

Fresh Del Monte Produce Inc. (NYSE: FDP) will release its third-quarter 2021 results before market opening on November 3, 2021. The company will host a conference call at 10:00 a.m. Eastern Time the same day, featuring executives Mohammad Abu-Ghazaleh, Eduardo Bezerra, and Ana Miranda. Interested parties can join via the Investor Relations page on the Fresh Del Monte website. This quarterly update is expected to provide insights into the company's financial performance and future outlook.