secwatch.observer — SEC 8-K summary
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Issuer:     FRESH DEL MONTE PRODUCE INC (FDP)
CIK:        0001047340
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001047340-22-000230
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fresh Del Monte Q2 net sales up 6% but net income halved; gross margin drops to 6.7%
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- Diluted EPS $0.44 vs $0.99; adjusted EPS $0.43 vs $0.98; net income $21.2M vs $47.2M.
- Net sales $1,211.9M (+$70.3M, +6% YoY) driven by pricing; cost of products sold rose $100M.
- Banana gross margin fell to 5.3% from 11.3% on higher freight and production costs.
- Dividend declared $0.15/share, payable Sept 9, 2022 to holders of record Aug 17.
- Adjusted EBITDA $55.7M vs $83.6M; margin 4.6% vs 7.3% as cost pressures persisted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1047340/000104734022000230/0001047340-22-000230-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1047340/000104734022000230/fdp-20220803.htm
  HTML page:      https://secwatch.observer/filing/0001047340-22-000230

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer