Fresh Del Monte Produce (US:FDP)2025-02-24 17:04Financial Performance - Net sales for Q4 2024 were $1,013 million, compared to $1,009 million in the prior year[11], while full year net sales reached $4,280 million, slightly down from $4,321 million in the previous year[11] - Gross profit for Q4 2024 increased to $69 million from $63 million in the prior year[12], and full year gross profit rose to $358 million from $351 million[12] - Adjusted operating income for the full year 2024 was $159 million, compared to $165 million in the prior year[13] - Adjusted diluted EPS for the full year increased to $242 from $212 in the prior year[13] Segment Performance - Fresh and value-added products net sales increased by 5% year-over-year due to higher per unit selling prices and sales volume in the avocado and pineapple product lines[17] - The gross margin for fresh and value-added products increased to 93% compared to 68% in the prior year period[17] - Banana net sales decreased by 10% primarily due to lower sales volume in North America and Asia[21] - Banana gross margin decreased to 59% compared to 100% in the prior year period[23] - Other products & services gross margin increased to 141% compared with 98% in the prior-year period[28] Capital Allocation - Long-term debt decreased to $244 million from $400 million in the prior year[30] - The company declared a dividend of $030 per share, an increase from $025 per share in the prior year[30]