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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.
Fresh Del Monte Produce Inc. (NYSE: FDP) will release its first quarter 2023 financial results on May 3, 2023, before market opening, followed by a conference call at 10:00 a.m. Eastern Time. The call will feature CEO Mohammad Abu-Ghazaleh and CFO Monica Vicente, inviting analysts and investors to discuss financial outcomes. Interested parties can join via the Fresh Del Monte Investor Relations page. The company, a top global producer of fresh and fresh-cut fruits and vegetables, operates under the Del Monte® brand, noted for over 135 years of quality and freshness. Fresh Del Monte is recognized as one of "America's Most Trusted Companies" by Newsweek for two consecutive years.
Fresh Del Monte Produce Inc. (NYSE: FDP) reported a strong fourth quarter and full fiscal year 2022, achieving net sales of $1,040.0 million and a net income of $18.3 million in Q4 2022, compared to a loss of $11.2 million in Q4 2021. For the full year, net sales rose 4% to $4,442.3 million, driven by inflation-adjusted price increases, despite lower sales volume in certain segments. Gross profit for Q4 improved to $81.7 million, up from $39.8 million in Q4 2021, reflecting increased selling prices. The company declared a quarterly dividend of $0.15 per share, highlighting its commitment to shareholder returns.
Fresh Del Monte Produce Inc. (NYSE: FDP) will release its fourth quarter and full fiscal year 2022 financial results before the market opens on February 22, 2023. The quarterly conference call will take place at 10:00 a.m. Eastern Time, featuring CEO Mohammad Abu-Ghazaleh and CFO Monica Vicente. Interested participants can join via the Investor Relations page on the Fresh Del Monte website. The company, a key player in the global fresh produce market, is known for its Del Monte brand and commitment to sustainability, including its participation in the Science Based Targets initiative. For inquiries, CFO Monica Vicente is available for contact.
Fresh Del Monte Produce Inc. has partnered with Moze Holding Limited to revive banana production in Somalia. This multi-year agreement will enhance banana supply chains, reducing transport times to the Middle East and North Africa, and making fresher fruit more accessible. Fresh Del Monte will manage operations, with the first harvest expected in 2024. Historically, Somalia was a significant banana exporter before its civil conflict in the 1990s. By reestablishing production, the partnership aims to contribute to Somalia's economic recovery while fulfilling market demands.
Fresh Del Monte Produce has announced the launch of its first carbon neutral certified pineapple, Del Monte Zero™, available in early 2023 for North American and select European markets. This product is certified by SCS Global Services and aims to mitigate greenhouse gas emissions through carbon insetting practices. With a commitment to sustainability, the company has invested in upgraded transportation and a reforestation program encompassing over 8,000 hectares. The initiative reflects a broader commitment to climate-conscious produce, as Fresh Del Monte seeks to expand its carbon neutral practices across its product lines.
Fresh Del Monte Produce reported strong third-quarter 2022 results, with net sales of $1,053.5 million, up 5% from $1,004.8 million YOY. Gross profit surged to $88.0 million from $48.9 million. Net income skyrocketed to $33.3 million compared to $1.3 million last year, with diluted EPS of $0.69. The company attributed its performance to strategic pricing amid inflationary pressures and improved product mix, although cost increases and currency fluctuations posed challenges. A quarterly dividend of $0.15 per share was declared, continuing its commitment to returns.
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