Fresh Del Monte Q3: EPS $0.88 (vs $0.17); gross margin up 180bps to 9.2%; dividend raised to $0.25

FRESH DEL MONTE PRODUCE INC

2024-Q3 EPS reported $2.54 revenue$3,267,000,000

Net income attributable to FDP $42.1M ($0.88 diluted EPS) vs $8.4M ($0.17) in prior year; adjusted net income $37.0M.
Net sales $1,019.5M (+1.6%); fresh/value-added segment +8.7% to $623.7M; banana -10.3% to $345.3M.
Gross profit $93.8M (+26%), margin 9.2% (up 180bps); adjusted gross profit $94.4M.
Quarterly dividend raised to $0.25/share (from $0.20); payable Dec 6 to holders of record Nov 14.
Long-term debt decreased to $269.6M from $401.0M (-33%); operating cash flow $187.2M YTD.

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