secwatch.observer — SEC 8-K summary
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Issuer:     FRESH DEL MONTE PRODUCE INC (FDP)
CIK:        0001047340
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001047340-24-000121
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fresh Del Monte Q1 2024: EPS $0.55 vs $0.81; fresh/value-added revenue up 5%
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- Net sales $1,107.9M (-1.8% YoY); net income attributable to FDP $26.1M (-33%) or $0.55 per diluted share.
- Fresh/value-added segment revenue up 5% to $676.8M, gross margin improved to 8.3% (7.3% prior). Avocado revenue +23%.
- Banana net sales down 11% to $379.5M; gross margin halved to 5.7% due to service issues and competitive pressures.
- Operating cash flow $18.7M vs $15.5M; long-term debt reduced to $400.0M from $472.7M.
- Quarterly dividend raised to $0.25/share from $0.15/share (67% increase).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1047340/000104734024000121/0001047340-24-000121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1047340/000104734024000121/fdp-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001047340-24-000121

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