Fresh Del Monte Q2 revenue up 4%, beats expectations
Overview
Fresh Del Monte fiscal Q2 rev grows 4% yr/yr, beating analyst expectations
Gross profit for fiscal Q2 rises 6%, driven by fresh and value-added products
Co maintains strong balance sheet with reduced long-term debt and robust cash flow
Outlook
Fresh Del Monte expects growth in pineapple and fresh-cut fruit demand
Result Drivers
PINEAPPLE AND FRESH-CUT FRUITS - Gains in gross profit driven by specialty pineapple varieties and fresh-cut fruit offerings
EXCHANGE RATES - Favorable fluctuations in exchange rates, particularly the Euro, Yen, and Pound, contributed to higher net sales
TARIFF ADJUSTMENTS - Tariff-related price adjustments in North America supported sales growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.18 bln | $1.16 bln (1 Analyst) |
Q2 Net Income |
| $57.40 mln |
|
Q2 Gross Profit |
| $120.10 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the fishing & farming peer group is "buy"
Wall Street's median 12-month price target for Fresh Del Monte Produce Inc is $39.00, about 7.5% above its July 29 closing price of $36.07
Press Release: ID:nBwbzCnfqa
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