Fresh Del Monte Produce (FDP)

Search documents
Fresh Del Monte Produce (FDP) - 2021 Q4 - Earnings Call Presentation
2022-02-27 17:05
A Brighter Day TomorrowTM Fresh Del Monte Produce Inc. Investor Relations Presentation February 23, 2022 Forward-Looking Statements This presentation contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company's plans and future performance, including (i) expectations regarding the ability to execute on its long-term strategy, (ii) expectations regarding the ability of the Optimization Program to improve the Com ...
Fresh Del Monte Produce (FDP) - 2021 Q4 - Annual Report
2022-02-23 21:11
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 31, 2021 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 (FDP) - 2021 Q4 - Earnings Call Transcript
2022-02-23 19:19
Call Start: 10:20 Call End: 10:25 January 1, 0000 ET Q4 2021 Earnings Conference Call February 23, 2022, 10:00 AM ET Company Participants Mohammad Abu-Ghazaleh – Chairman and Chief Executive Officer Eduardo Bezerra – Senior Vice President and Chief Financial Officer Christine Cannella – Vice President, Investor Relations Conference Call Participants Operator Good day everyone and welcome to the Fresh Del Monte Produce Fourth Quarter and Full Fiscal Year 2021 Conference Call. Today's conference call is bei ...
Fresh Del Monte Produce (FDP) - 2021 Q3 - Earnings Call Transcript
2021-11-03 19:32
Fresh Del Monte Produce Inc. (NYSE:FDP) Q3 2021 Earnings Conference Call November 3, 2021 10:00 AM ET Company Participants Ana Miranda - Investor Relations Mohammad Abu-Ghazaleh - Chairman and Chief Executive Officer Eduardo Bezerra - Senior Vice President and Chief Financial Officer Conference Call Participants Jonathan Feeney - Consumer Edge Operator Good day and welcome to Fresh Del Monte Produce Third Quarter 2021 Earnings Conference Call. Today’s conference is being broadcast live over the internet and ...
Fresh Del Monte Produce (FDP) - 2021 Q3 - Quarterly Report
2021-11-02 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 October 01, 2021 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 ...
Fresh Del Monte Produce (FDP) - 2021 Q2 - Earnings Call Presentation
2021-08-05 07:41
INNOVATING FOR A BETTER WORLD TOMORROW Fresh Del Monte Produce Inc. Investor Relations August 4, 2021 Forward-Looking Statements This presentation contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company's plans and future performance. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important t ...
Fresh Del Monte Produce (FDP) - 2021 Q2 - Earnings Call Transcript
2021-08-04 18:20
Financial Data and Key Metrics Changes - Gross profit for Q2 2021 increased by 40% year-over-year, with gross margin rising from 7.2% to 9.6% [6] - Net sales increased by $49 million or 5% to $1.142 billion, driven primarily by fresh and value-added business segments [12] - Adjusted net income rose by $21 million or 82% to $47 million, with diluted earnings per share increasing to $0.99 from $0.38 [14] - Adjusted EBITDA increased by 32%, with adjusted EBITDA margin rising from 5.8% to 7.3% [15] Business Segment Data and Key Metrics Changes - Fresh and value-added products segment saw net sales increase by $38 million or 6%, driven by higher demand for pineapple, fresh-cut fruit, and vegetables [16] - Adjusted gross profit in the fresh and value-added products segment increased by 28% to $59 million, supported by higher sales volumes and prices [18] - Banana segment net sales decreased by $3 million to $427 million, but adjusted gross profit increased by 16% or $7 million due to higher per unit sales prices [20] Market Data and Key Metrics Changes - The foreign currency impact at the gross profit level was favorable by $11 million, compared to an unfavorable effect of $1 million in the prior year [22] - Cash flow from operating activities increased to $140 million from $111 million in the prior year, attributed to higher net income [24] Company Strategy and Development Direction - The company is focusing on transforming into a value-added global food company, with strategic initiatives in Europe leading to increased efficiencies and cost savings [7][9] - A licensing agreement with a UK retailer for frozen fruit and chili juices presents new revenue opportunities in Europe, with potential expansion to the Middle East and Africa [9] - The company plans to publish its annual corporate responsibility and sustainability report, highlighting its guiding principles and progress [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged facing unprecedented disruptions in global supply chains and labor shortages, leading to significant cost increases [7] - Inflationary pressures are expected to persist in the near term, prompting a comprehensive review of pricing strategies [8] - The second half of the year is historically tougher for the industry, with management cautious about ongoing inflation and cost pressures [10] Other Important Information - The Board of Directors approved an increase in the quarterly cash dividend to $0.15 per share, reflecting a strong cash position [10][28] - Total debt decreased from $542 million at the end of 2020 to $474 million at the end of Q2 2021, with total debt standing below two times adjusted EBITDA [27] Q&A Session Summary Question: Outlook on banana supply for the second half of the year - Management indicated that supply is constant and available, with no shortage in the market, but pricing pressures exist due to retailer leverage [31][32] Question: Impact of supply chain pressures on pricing across the industry - Management noted that cost pressures affect all segments, and they have implemented price increases to offset some of these costs [33][34] Question: Changes in the retail environment post-COVID - Management stated that the retail environment remains unchanged, despite efforts to maintain consistent supply, and highlighted past challenges with excess inventory [38][39]
Fresh Del Monte Produce (FDP) - 2021 Q2 - Quarterly Report
2021-08-03 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 July 02, 2021 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 It ...
Fresh Del Monte Produce (FDP) - 2021 Q1 - Earnings Call Transcript
2021-05-09 04:02
Fresh Del Monte Produce, Inc. (NYSE:FDP) Q1 2021 Earnings Conference Call May 5, 2021 10:00 AM ET Company Participants Christine Cannella - VP & IR Officer Mohammad Abu-Ghazaleh - Chairman & CEO Eduardo Bezerra - CFO, CAO & SVP Conference Call Participants Jonathan Feeney - Consumer Edge Research Operator Good morning, everyone, and welcome to the Fresh Del Monte Produce First Quarter 2021 Earnings Conference Call. Today's conference call is being broadcast live over the Internet and is also being recorded ...
Fresh Del Monte Produce (FDP) - 2021 Q1 - Quarterly Report
2021-05-04 16:00
——————————— Title of each class Trading Symbol Name of each exchange on which registered Ordinary Shares, $0.01 Par Value Per Share FDP New York Stock Exchange 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 April 02, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...