Fresh Del Monte Q2 2024 net income up to $53.6M; debt falls to $285M; dividend raised to $0.25

FRESH DEL MONTE PRODUCE INC

2024-Q2 EPS reported $1.66 revenue$2,247,500,000

Net sales $1,139.7M, down 3.5% YoY; gross margin 9.9% flat; net income $53.6M vs $47.7M, EPS $1.12.
Fresh & value-added segment sales $694.1M (+2.4%), gross margin improved to 11.2% from 9.2%.
Banana segment sales $394.3M (-12.1%), gross margin fell to 7.6% from 11.3% on lower volumes/prices.
Long-term debt decreased to $285.0M from $400.5M YoY (29% reduction).
Board declared quarterly dividend $0.25 per share, up from $0.20, payable Sept 6, 2024.

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