Welcome to our dedicated page for Fresh Del Monte Produce news (Ticker: FDP), a resource for investors and traders seeking the latest updates and insights on Fresh Del Monte Produce stock.
Fresh Del Monte Produce Inc. (symbol: FDP) is a globally recognized leader in the production, marketing, and distribution of high-quality fresh and fresh-cut fruits and vegetables. The company is also a key player in the production and distribution of prepared healthy snacks, primarily serving markets in Europe, Africa, and the Middle East. Operating under the esteemed Del Monte® brand, known for its commitment to innovation, quality, freshness, and reliability for over a century, Fresh Del Monte Produce Inc. has established a robust presence in more than 100 countries around the world.
The company operates through three main segments: Fresh and Value-Added Products, including pineapples, fresh-cut fruit, fresh-cut vegetables, melons, vegetables, non-tropical fruit, and avocados; the Banana Segment; and Other Products and Services, which includes third-party freight and logistics services, and the Jordanian poultry and meats business.
Fresh Del Monte Produce Inc. is dedicated to meeting the evolving needs of health-conscious consumers by providing a range of convenient, nutritious, and wholesome food products. The company's long-term vision is to become the leading global supplier of healthful, fresh, and prepared foods and beverages, catering to consumers of all ages.
Recent achievements include expansions in their product offerings and strategic partnerships aimed at enhancing their supply chain and distribution capabilities. Financially, Fresh Del Monte has shown resilience and adaptability, maintaining strong performance despite market fluctuations. The company's operations in North America, Europe, Asia, the Middle East, and other regions contribute significantly to its overall revenue, with North America being the largest market.
Through its commitment to quality and sustainability, Fresh Del Monte continues to uphold its reputation as a trusted brand, ensuring that consumers worldwide have access to fresh, nutritious, and delicious food.
Fresh Del Monte Produce (NYSE: FDP) has announced its participation in the Stephens Annual Investment Conference at the Grand Hyatt Nashville Hotel. Senior VP and CFO Monica Vicente, along with VP of Investor Relations Christine Cannella, will engage in a fireside chat on November 20, 2024, at 2:00 p.m. ET. The event will be livestreamed on Fresh Del Monte's investor relations website and available for replay for 90 days. Management will also conduct one-on-one meetings with conference attendees, with meeting arrangements available through Stephens representatives or directly with the investor relations team.
Fresh Del Monte Produce reported strong Q3 2024 financial results with net sales of $1,019.5 million, up from $1,003.1 million in the prior year. Gross margin increased to 9.2% from 7.4%, driven by higher sales volume and prices in fresh and value-added products. Net income rose significantly to $42.1 million compared to $8.4 million in Q3 2023. The company's fresh and value-added products segment saw improved performance with higher sales of avocados and pineapples, while the banana segment experienced decreased sales due to competitive pressures. Long-term debt decreased by 33% to $269.6 million, and the company declared a quarterly dividend of $0.25 per share.
Fresh Del Monte Produce (NYSE: FDP) announced the sale of its Fresh Leaf Farms brand and operations through its vegetable division Mann Packing to First Leaf Farms, a new partnership between the Costa and Nunes families. The sale aligns with Fresh Del Monte's three-pronged strategy for its vegetable division, focusing on operational efficiency, product innovation, and non-core asset divestment. Mann Packing will continue prioritizing its core vegetable line and signature innovations while utilizing First Leaf Farms' logistics network through the Yuma season. The Costa family will manage production and operations, while The Nunes Company will oversee sales and marketing for First Leaf Farms.
Fresh Del Monte Produce Inc. (NYSE: FDP) has announced that it will release its third quarter 2024 financial results before the market opens on Thursday, October 31, 2024. The company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss these results.
Institutional investors, analysts, and other financial community members are invited to join the call by dialing 1 (888) 330-2454 (Domestic/Toll Free) or 1 (240) 789-2714 (International) and using the passcode 1313437. A live audio webcast of the call will be available in the Events & Presentations section of Fresh Del Monte's Investor Relations page. An archived replay of the webcast will be accessible shortly after the event concludes.
Fresh Del Monte Produce Inc. (NYSE: FDP) has released its 2023 Sustainability Report, showcasing significant progress in environmental and social goals. Key achievements include:
1. Climate: Achieved a 28% reduction in Scope 1 and 2 emissions, surpassing its SBTi target seven years early. Exceeded goal of reducing Scope 1 CO2 emissions from vessel shipping by 19%.
2. Biodiversity: Completed ecosystem mapping in Guatemala and Costa Rica. Planted 2,487,847 trees since 2016, reaching 99.5% of its 2.5 million tree goal.
3. Diversity: 69% of U.S. employees are from diverse backgrounds.
4. Packaging: Introduced reusable plastic containers for banana shipments, saving 758 tons of single-use paper and 5 tons of plastic.
The company continues to lead in regenerative agriculture, biodiversity conservation, and waste revalorization, including partnerships for bioactive compound research and biofertilizer production.
Fresh Del Monte Produce Inc. (NYSE: FDP) announces plans to introduce its Rubyglow® pineapple in Europe in early 2025, following successful launches in China (January 2024) and North America (May 2024). This red-shelled pineapple, developed over 15 years, features a red outer skin, bright yellow flesh, and a sweet flavor similar to Del Monte Gold® Extra Sweet pineapples.
The Rubyglow® pineapple is grown in Costa Rica and takes two years to cultivate. It's a hybrid fruit produced through traditional crossbreeding of a traditional pineapple and a Morada pineapple. The seed supply and intricate cultivation process contribute to its global scarcity.
Fresh Del Monte continues to lead pineapple innovation, having introduced various unique varieties since the 1990s. The company markets its products worldwide under the DEL MONTE® brand and has received recognition as one of 'America's Most Trusted Companies' by Newsweek in 2022, 2023, and 2024.
Fresh Del Monte Produce Inc. (NYSE: FDP) has been named a Humankind 100 company for the third consecutive year, ranking #53 on the 2024 list. The company was recognized for its significant impact in Crop Production ($62.7 billion), Economic Value ($1.4 billion), and Medical Services ($538 million).
The Humankind 100 honors U.S. public companies that create substantial value for investors, consumers, employees, and society. Fresh Del Monte's Chairman and CEO, Mohammad Abu-Ghazaleh, emphasized the company's commitment to generating sustainable, long-term value and fostering positive change for humanity and the planet.
Fresh Del Monte's achievements in food production, economic contributions, and medical services contributed to its recognition. The company was also recently named one of the World's Most Trusted Companies by Newsweek and received a SEAL Business Award for promoting sustainability in emerging economies.
Fresh Del Monte Produce Inc. (NYSE: FDP) has been ranked eighth in Newsweek's 2024 list of the World's Most Trustworthy Companies in the Food & Beverage category. This recognition, presented in collaboration with Statista, is based on an independent survey of over 70,000 participants across 23 industries in 20 countries. Participants rated companies on Investor Trust, Customer Trust, and Employee Trust.
Chairman and CEO Mohammad Abu-Ghazaleh expressed pride in this achievement, attributing it to the company's pursuit of excellence, transparency, and trust. Fresh Del Monte, a leading producer and distributor of fresh and fresh-cut fruits and vegetables, emphasizes the importance of trust in fostering customer loyalty, strengthening brand reputation, boosting employee morale, and building investor confidence.
Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Danny Dumas as Senior Vice President of Sales, Marketing & Product Management for North America. With over 35 years of industry experience, Dumas will oversee key operations in one of the company's largest markets. His role includes managing sales, marketing, product management, technical services, and quality assurance for port operations.
Dumas's appointment aligns with Fresh Del Monte's focus on sustainable growth, innovation, and operational excellence. His extensive career includes senior leadership roles at Calavo Growers and previous experience at Fresh Del Monte. CEO Mohammad Abu-Ghazaleh emphasized Dumas's expertise in produce sales, global logistics, and product management as important for expanding value-added product offerings and maintaining high standards of quality and customer service.
Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Dr. Imad Farhat as Senior Vice President, Specialty Ingredients. Dr. Farhat will lead the company's efforts to develop innovative, nature-derived ingredients that align with Fresh Del Monte's mission of providing healthful products to consumers worldwide. His focus will be on:
1. Harnessing nature's power for long-term strategy in the ingredients industry
2. Developing products rooted in circular economy principles
3. Creating wholesome options that resonate with health-conscious consumers
4. Utilizing residuals from Fresh Del Monte's operations to achieve sustainable practices
Dr. Farhat brings nearly 20 years of experience from dsm-firmenich and has an extensive background in food science, with over 70 scientific publications and numerous patents.
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