Workflow
Fresh Del Monte Produce (FDP)
icon
Search documents
Fresh Del Monte Produce (FDP) - 2024 Q1 - Quarterly Results
2024-05-02 20:09
Fresh Del Monte Produce Inc. Fresh Del Monte Produce Inc. Reports First Quarter Earnings for Fiscal 2024 Fresh and Value-Added Segment Revenue Increased 5% Compared to Prior-Year Avocado Revenue Increased 23% Driven by Year-Over-Year Pricing Improvement Financial highlights for the first quarter 2024: Net sales for the first quarter of 2024 were $1,107.9 million compared with $1,128.5 million in the prior-year period. The decrease in net sales was a result of lower banana net sales, driven by lower volume a ...
SEMCAP Food & Nutrition Welcomes Fresh Del Monte as an Anchor Investor
Newsfilter· 2024-03-13 13:00
PHILADELPHIA, March 13, 2024 (GLOBE NEWSWIRE) -- SEMCAP Food & Nutrition (SEMCAP) is pleased to announce the addition of Fresh Del Monte (NYSE:FDP) as a key partner and investor in the first closing of the firm's inaugural Food & Nutrition investment strategy. Having launched the Food & Nutrition platform in 2021, the SEMCAP Food team executed three transactions prior to the launch of the Fund in Q4 2023. SEMCAP was pleased to partner with Fresh Del Monte on two of those three investments in Purely Elizabet ...
Fresh Del Monte Produce (FDP) - 2023 Q4 - Earnings Call Presentation
2024-02-26 17:15
Financial Performance - Q4 2023 net sales were $1,009 million, compared to $1,040 million in the prior year[6] - Full year 2023 net sales were $4,321 million, compared to $4,442 million in the prior year[6] - Full year Adjusted EPS grew to $2.12[7] - The company reduced long-term debt by $140 million to $400 million at the end of FY23[5] - The company sold underutilized assets for $120 million in FY23[7] Segment Results - Fresh and value-added products net sales decreased by 4% due to lower sales volume, reaching $2,478 million in FY2023 compared to $2,582 million in FY2022[15, 14] - Banana net sales increased by 1% due to higher per unit selling prices, reaching $1,638 million in FY2023 compared to $1,620 million in FY2022[18, 17] - Other products & services net sales decreased due to lower sales of third-party ocean freight services, with net sales of $205 million in FY2022 compared to $241 million in FY2023[19] - Banana gross profit increased 35% due to higher net sales and lower distribution costs, reaching $163 million in FY2023 compared to $121 million in FY2022[18, 17] Strategic Initiatives - The company increased the quarterly dividend by 25% for the second consecutive year[5] - The company is exploring strategic alternatives for the Mann Packing operation due to a non-cash fourth quarter impairment[7] - The company experienced 25% year-over-year volume growth in higher margin specialty pineapples[15]
Fresh Del Monte Produce Inc. Reports Fourth Quarter and Full Fiscal Year 2023 Financial Results
Businesswire· 2024-02-26 11:15
CORAL GABLES, Fla.--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP), ("Fresh Del Monte" or the "Company") today reported financial results for the fourth quarter and the full fiscal year ended December 29, 2023. "We are pleased with many aspects of our full year 2023 results including our strong gross margins and cash flow which enabled us to have strong full year adjusted earnings per share growth, reduce our long-term debt by $140 million to end the year with an adjusted leverage ratio of 1.7x ...
Fresh Del Monte Produce (FDP) - 2023 Q4 - Annual Results
2024-02-25 16:00
Fresh Del Monte Produce Inc. Fresh Del Monte Produce Inc. Reports Fourth Quarter and Full Fiscal Year 2023 Financial Results Gross Profit Margin for Fiscal Year 2023 Increased to 8.1% from 7.7% in Prior-Year Banana Segment Gross Margin for Fiscal Year 2023 Up 250 Basis Points Compared with Prior-Year Company Exploring Strategic Alternatives for Mann Packing Operation Long-Term Debt Reduced by $140 Million or 26% to $400 million at End of Fiscal Year 2023 - more - Fresh Del Monte Produce Inc. Page 2 of 14 Co ...
Fresh Del Monte Produce (FDP) - 2023 Q4 - Annual Report
2024-02-25 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 333-07708 FRESH DEL MONTE PRODUCE INC. (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or Other Jurisdiction of I ...
Fresh Del Monte Produce Inc. to Report Fourth Quarter and Full Fiscal Year 2023 Financial Results
Businesswire· 2024-02-14 10:45
CORAL GABLES, Fla.--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP), (the “Company”) today announced that it will issue a press release on its fourth quarter and full fiscal year 2023 financial results prior to the market opening on Monday, February 26, 2024 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company’s financial results. Hosting the call for the Company will be Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer, Monica Vicente, S ...
Fresh Del Monte Produce (FDP) - 2023 Q3 - Earnings Call Presentation
2023-11-01 15:05
FORWARD-LOOKING STATEMENTS • Q3 & Nine Months Financial Results Nine months 2023 financial highlights: o Adjusted gross margin improved 140 bps versus prioryear period o Adjusted EBITDA increased 14% to $201 million versus prior-year period o Adjusted diluted EPS increased 23% to $1.87 versus prior-year period "Lunchables with Fresh Fruit" continues to test in the market • Q32023 Earnings Call Presentation November 1, 2023 4 BUSINESS UPDATE BUSINESS UPDATE Unveiled two salad kits with global restaurant chai ...
Fresh Del Monte Produce (FDP) - 2023 Q3 - Quarterly Report
2023-10-31 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————— FORM 10-Q ——————————— (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 333-07708 (Commission file number) ——————————— FRESH DEL MONTE PRODUCE INC. (Exact Name of Registrant as Specified in Its Chart ...
Fresh Del Monte Produce (FDP) - 2023 Q2 - Earnings Call Transcript
2023-08-02 20:46
Fresh Del Monte Produce Inc. (NYSE:FDP) Q2 2023 Earnings Conference Call August 2, 2023 10:00 AM ET Company Participants Claudia Pou - Vice President, Corporate Communications Mohammad Abu-Ghazaleh - Chairman and Chief Executive Officer Monica Vicente - Senior Vice President and Chief Financial Officer Conference Call Participants Mitch Pinheiro - Sturdivant & Co Operator Good day, everyone, and welcome to Fresh Del Monte Produce’s Second Quarter 2023 Earnings Conference Call. Today’s conference call is bei ...