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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.
Guidehouse announced that Chief Operating Officer Charles Beard will transition from his executive role to join the company's Board effective January 1, 2025. Beard, who has served as COO since the firm's inception, was instrumental in developing Guidehouse's global operating platform and establishing its market position. His 30-year career includes executive and board positions in both public and private companies, including current board roles at Fresh Del Monte (NYSE: FDP) and Inova healthcare.
The transition aims to leverage Beard's expertise in operations, technology, and corporate strategy to support Guidehouse's growth and innovation strategy. He will focus on corporate governance, strategic planning, and delivering value for shareholders, clients, and employees in his new board position.
Fresh Del Monte Produce (NYSE: FDP), through its vegetable division Mann Packing, announces a partnership with Newman's Own to launch their first-ever packaged salad kits. The product line, launching in January 2025, will feature four flavors: King of the Caesars™, Rodeo Remix™, Italiano Magnifico™, and Parmesan Powerhouse™. Each kit combines Mann Packing's high-quality lettuce with Newman's Own® signature dressings and premium toppings.
The collaboration aligns with both companies' commitment to social responsibility, as Newman's Own Foundation uses all proceeds from sales to support children facing adversity. The salad kits will be available in grocery stores across North America, offering consumers restaurant-quality meals while supporting charitable causes.
Fresh Del Monte Produce (NYSE: FDP) has appointed Thomas Padilla as Vice President, Avocados (International), effective November 18, 2024. Padilla brings 14 years of produce industry experience, specializing in international and export sales. He will report to Danny Dumas, Senior VP of Sales, Marketing, and Product Management for North America. The appointment aims to strengthen Fresh Del Monte's avocado program, which is a key growth driver, particularly in North America. In his role, Padilla will oversee international avocado operations and strategy, focusing on growth opportunities and partnership strengthening.
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.
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