Fresh Del Monte Produce Inc Stock Price, News & Analysis

Fresh Del Monte Produce reported strong financial results for Q2 2021, with net sales rising by 5% to $1,141.6 million from $1,092.3 million in the previous year. Gross profit surged 40% to $110.0 million and diluted EPS increased to $0.99 from $0.38. Growth was primarily driven by fresh and value-added products, notably in pineapples and prepared foods, despite ongoing inflationary pressures. The company also declared a quarterly dividend of $0.15 per share, reflecting confidence in its performance.

Fresh Del Monte Produce Inc. (NYSE: FDP) will announce its second quarter 2021 financial results before the market opens on August 4, 2021. A conference call will follow at 10:00 a.m. Eastern Time, hosted by CEO Mohammad Abu-Ghazaleh and CFO Eduardo Bezerra. Investors can participate via phone or by visiting the company's Investor Relations page. Fresh Del Monte is a leading producer and distributor of fresh produce and prepared foods worldwide, marketing under the DEL MONTE® brand and others.

Fresh Del Monte Produce has partnered with I Squared Capital to invest in the I Squared Global InfraTech Fund, focusing on innovative technology in infrastructure. This initiative aims to enhance digital capabilities, improve supply chain efficiency, and support growth-stage companies in logistics and agriculture. CEO Mohammad Abu-Ghazaleh highlighted that this partnership will accelerate the company's transformation into a digital-forward entity. The collaboration is expected to drive efficiency and business expansion by addressing supply chain bottlenecks.

Fresh Del Monte Produce announced the election of Lori Tauber Marcus and Kristin Colber-Baker to its Board of Directors, enhancing its commitment to diversity and inclusion. With these additions, women represent 38% of the board, significantly higher than the Russell 3000 Index average of 23%. Both members bring extensive expertise: Marcus in marketing and consumer trends, and Colber-Baker in global finance and diversity. This strategic move aims to strengthen the company's long-term vision as a leading global supplier.

Fresh Del Monte Produce (NYSE: FDP) reported a strong first quarter for 2021, achieving a 53% increase in gross profit to $105.0 million. Net income surged 228% to $42.7 million, with diluted EPS rising to $0.90. Despite a $29.7 million decline in net sales attributed to COVID-19 impacts and hurricane-related supply issues, adjusted EBITDA increased 61% to $82.3 million. The company also reduced total debt to $534.3 million and declared a quarterly cash dividend of $0.10 per share.

Fresh Del Monte Produce Inc. (NYSE: FDP) will release its first quarter 2021 results before the market opens on May 5, 2021. The quarterly conference call will take place that same day at 10:00 a.m. ET, led by CEO Mohammad Abu-Ghazaleh, CFO Eduardo Bezerra, and Investor Relations VP Christine Cannella. Participants can join via the Investor Relations page on the Fresh Del Monte website or through designated phone lines. An audio replay will be accessible on their website two hours post-call for one year.

Fresh Del Monte Produce reported its financial results for Q4 and full year 2020. Earnings per diluted share for 2020 were $1.03, down from $1.37 in 2019. The company’s adjusted EPS rose to $1.15 from $1.12 year-over-year. Q4 saw earnings of $0.02 per share, recovering from a loss of $0.54 in 2019. Annual net sales dropped to $4.2 billion, largely due to a $303.6 million impact from the COVID-19 pandemic. Despite challenges, Fresh Del Monte declared a $0.10 dividend and highlighted its strategic focus on value-added products to enhance performance in 2021.