Fresh Del Monte Q1 GAAP EPS $0.81 vs $0.54; dividend raised to $0.20

FRESH DEL MONTE PRODUCE INC

2023-Q1 EPS reported $0.81 revenue$1,128,500,000

GAAP net income $39.0M ($0.81 diluted EPS) vs $25.8M ($0.54); adjusted EPS flat at $0.55.
Net sales down 1% to $1,128.5M; banana sales +5%, fresh & value-added -4%.
Gross profit rose to $97.0M (8.6% margin) from $89.8M (7.9%) on higher pricing and lower distribution costs.
Board declared quarterly dividend of $0.20/share (up from $0.15), payable June 9 to holders May 17.
Recorded $27.5M gain on sale of three underutilized properties; $2.4M cybersecurity incident charges.

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