Latest news with #MohammadAbu-Ghazaleh
Yahoo
30-04-2025
- Business
- Yahoo
Fresh Del Monte Produce (NYSE:FDP) Reports Sales Below Analyst Estimates In Q1 Earnings
Fresh produce company Fresh Del Monte (NYSE:FDP) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $1.10 billion. Its non-GAAP profit of $0.63 per share was 2.4% above analysts' consensus estimates. Is now the time to buy Fresh Del Monte Produce? Find out in our full research report. Revenue: $1.10 billion vs analyst estimates of $1.12 billion (flat year on year, 1.8% miss) Adjusted EPS: $0.63 vs analyst estimates of $0.62 (2.4% beat) Adjusted EBITDA: $61.3 million vs analyst estimates of $66.3 million (5.6% margin, 7.5% miss) Operating Margin: 4.1%, up from 2.7% in the same quarter last year Free Cash Flow Margin: 3.3%, up from 0.5% in the same quarter last year Market Capitalization: $1.66 billion "We kicked off 2025 with continued momentum, building on the progress we made last year. In the first quarter, demand once again exceeded supply in our fresh and value-added products segment, highlighting the strength of our position in this key segment,' said Fresh Del Monte Chairman and CEO Mohammad Abu-Ghazaleh. Translating to "of the mountain" in Spanish, Fresh Del Monte (NYSE:FDP) is a leader in providing high-quality, sustainably grown fresh fruits and vegetables. A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With $4.27 billion in revenue over the past 12 months, Fresh Del Monte Produce carries some recognizable products but is a mid-sized consumer staples company. Its size could bring disadvantages compared to larger competitors benefiting from better brand awareness and economies of scale. As you can see below, Fresh Del Monte Produce struggled to increase demand as its $4.27 billion of sales for the trailing 12 months was close to its revenue three years ago. This shows demand was soft, a rough starting point for our analysis. This quarter, Fresh Del Monte Produce missed Wall Street's estimates and reported a rather uninspiring 0.9% year-on-year revenue decline, generating $1.10 billion of revenue. We also like to judge companies based on their projected revenue growth, but not enough Wall Street analysts cover the company for it to have reliable consensus estimates. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Although earnings are undoubtedly valuable for assessing company performance, we believe cash is king because you can't use accounting profits to pay the bills. Fresh Del Monte Produce has shown mediocre cash profitability over the last two years, giving the company limited opportunities to return capital to shareholders. Its free cash flow margin averaged 3.3%, subpar for a consumer staples business. Taking a step back, we can see that Fresh Del Monte Produce failed to improve its margin over the last year. Its unexciting margin and trend likely have shareholders hoping for a change. Fresh Del Monte Produce's free cash flow clocked in at $36.1 million in Q1, equivalent to a 3.3% margin. This result was good as its margin was 2.7 percentage points higher than in the same quarter last year, but we wouldn't put too much weight on the short term because investment needs can be seasonal, causing temporary swings. Long-term trends carry greater meaning. We struggled to find many positives in these results. Its EBITDA missed significantly and its gross margin fell short of Wall Street's estimates. Overall, this was a softer quarter. Still, the stock traded up 1.4% to $35.30 immediately following the results. So do we think Fresh Del Monte Produce is an attractive buy at the current price? If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
Fresh Del Monte Produce Inc. to Report First Quarter 2025 Financial Results
CORAL GABLES, Fla., April 09, 2025--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP) today announced that it will issue a press release on its first quarter 2025 financial results prior to market opening on Wednesday, April 30, 2025, and will host its quarterly conference call that day at 11:00 a.m. Eastern Time to discuss the Company's financial results. Hosting the call for the Company will be Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer, Monica Vicente, Senior Vice President and Chief Financial Officer, and Christine Cannella, Vice President Investor Relations. Institutional investors, analysts and other members of the financial community are invited to join the live call by dialing 1 (888) 330-2454 (Domestic/Toll Free) or 1 (240) 789-2714 (International) and entering Passcode: 1313437. The live audio webcast of the conference call will be accessible in the Events & Presentations section on the Investor Relations page of the Fresh Del Monte website at An archived replay of the webcast will be available shortly after the live event has been concluded. About Fresh Del Monte Produce Inc. Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods Corporation II Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the "Science Based Targets" initiative. In 2022, 2023, and 2024 Fresh Del Monte Produce was ranked as one of "American's Most Trusted Companies" by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP. View source version on Contacts For information, contact: Christine CannellaVice President Investor Relationsccannella@
Yahoo
27-03-2025
- Business
- Yahoo
Fresh produce giant Fresh Del Monte strikes deal to enter high-value specialty ingredients
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Fresh fruit and vegetable giant Fresh Del Monte is buying a majority stake in Avolio, Uganda's leading supplier of bulk crude and edible avocado oil, for an undisclosed amount. The Florida company said the purchase fits with its long-term strategy to grow its specialty ingredients and innovation business. In this case, Avolio will enable Fresh Del Monte to convert avocados into premium avocado oil. Avocados are one of the few fruits from which oil can be extracted from the pulp. The purchase places Fresh Del Monte in the fast-growing avocado oil segment. The ingredient is expected to grow to a $1.2 billion business by 2032 from $637 million a year ago, according to Fortune Business Insights. Fresh Del Monte is best known for its bananas, pineapples and other fresh produce displayed in the grocery store. While the company remains committed to the business, it recently created a biomass and specialty ingredients division to transform agricultural byproducts to boost the company's growth, enhance soil health and support human wellness. 'These efforts not only reinforce our environmental stewardship but also position us to compete in higher-margin categories that drive profitable growth and long-term shareholder value,' Fresh Del Monte Chairman and CEO Mohammad Abu-Ghazaleh said in a statement. 'Acquiring Avolio is a strategic step aligned with our long-term vision to extract greater value across our supply chain while advancing our commitment to sustainability.' During its 2024 fiscal year, Fresh Del Monte's net sales fell to $4.28 billion compared with $4.32 billion in the prior-year period. The decrease in net sales was primarily due to lower sales volume and per unit selling prices in bananas as well as the negative impact of exchange rate fluctuations. Bananas were responsible for about a third of the company's net sales in 2024. The purchase of Avolio not only improves Fresh Del Monte's environmental footprint and provides it with faster-growing channels to increase sales but also helps to further diversify the company's business and minimize disruption in other parts of its operations. Fresh Del Monte said Avolio's extraction technology will be scaled to process 140 metric tons of avocados per day. It added that the technology, coupled with Fresh Del Monte's extensive supply chain expertise 'positions the two companies to lead the market in delivering high-quality, sustainable avocado oil solutions.' Recommended Reading Leftovers: Fresh Del Monte pineapples turn red | Little Bites get a little less sweet
