Fresh Del Monte Q2 net income doubles to $47.7M; gross profit up 45%

FRESH DEL MONTE PRODUCE INC

2023-Q2 EPS reported $1.80 revenue$2,309,000,000

Net income attributable to FDP $47.7M vs $21.2M YoY; diluted EPS $0.99 vs $0.44.
Gross profit $116.8M, up 45% YoY; gross margin 9.9% vs 6.7%.
Banana segment gross margin more than doubled to 11.3% vs 5.3% on higher pricing and lower ocean freight.
Long-term debt reduced to $400.5M from $472.7M sequentially; dividend increased to $0.20/share from $0.15.
Adjusted operating income $67.9M vs $33.4M; includes $4.6M impairment and cybersecurity expenses.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FRESH DEL MONTE PRODUCE INC reported the second quarter ended June 30, 2023 results: revenue $1,180.5 million, net income $47.7 million.

Period: the second quarter ended June 30, 2023
Revenue: $1,180.5 million
Net income: $47.7 million
Result: reported results

Exact text from the filing

decision-making process, which is beginning to reflect in our financial results.” Financial highlights for the second quarter 2023: Net sales for the second quarter of 2023 were $1,180.5 million compared with $1,211.9 million in the prior-year period. The net sales variance was primarily driven by the fresh and value-added products segment, specifically lower per unit

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Source: SEC EDGAR

accession 0001047340-23-000183

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