Fresh Del Monte Produce (FDP) Reports Q2 EPS of $0.14, Miss on Revenues

Fresh Del Monte Produce (NYSE: FDP) reported Q2 EPS of $0.14, versus $1.27 reported last year. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.28 billion.

"The quarter was highlighted by our recent acquisition of Mann Packing Company, and by strong sales growth, despite reductions in pricing across many of our products,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. “Uncontrollable factors led by congestion, delays and inclement weather at our loading ports in Central America, substantially lower banana selling prices in Europe, an oversupply of pineapples in North America, continued tightening of the transportation market, and higher commodity costs adversely affected our overall performance. Looking ahead, we remain firmly focused and committed to investing in and further diversifying our global operations while driving profitable growth over the long-term.”

For earnings history and earnings-related data on Fresh Del Monte Produce (FDP) click here.

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