Fresh Del Monte Produce (FDP) Tops Q1 EPS by 9c

Fresh Del Monte Produce (NYSE: FDP) reported Q1 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $1.15 billion, versus $1.11 billion reported last year.

"The performance-improving initiatives we put in place in 2018 to rationalize our non-tropical, tomato and melon operations delivered margin improvements during the first quarter of 2019," said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. "The unfavorable weather and logistical challenges of 2018 have not had an impact and we appear to be tracking towards a normal performance for these two factors for the first half of 2019. However, we still face headwinds with higher costs in our fresh and value-added business segment. We continue to focus on all areas of our operations to ensure that we have the right cost structure to support our diverse product line and our vertically-integrated platform, and to expand our market reach through new and existing distribution channels to promote our global growth and brand awareness.”

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

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