Fresh Del Monte Produce (FDP) Misses Q4 EPS by 42c, Revenues Miss

Fresh Del Monte Produce (NYSE: FDP) reported Q4 EPS of ($0.45), $0.42 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.07 billion.

“In 2019, we benefited from our 2018 initiatives to realign certain production units, as well as early returns on our 2019 strategic shift to focus on becoming a value-added and more diversified Company,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. “The emphasis on strengthening our core businesses led to higher gross margins and increased profitability. We also saw continued demand in our value-added fresh-cut and avocado product lines. Fresh Del Monte Produce is a different company today than it was a year ago. While we are encouraged by these results, we believe our transformation process will continue as we drive innovation and growth in our value-added businesses and leverage our core products to drive consistent revenue and earnings growth for the long-term.”

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

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