Fresh Del Monte Produce is a leading global producer and distributor of fresh and prepared fruits and vegetables. The company specializes in growing, sourcing, marketing, and selling a wide variety of high-quality produce, including bananas, pineapples, melons, and avocados, as well as value-added products like fruit cups and snacks. Fresh Del Monte operates a vertically integrated supply chain that encompasses farming, packaging, and distribution, enabling it to deliver fresh products to retailers, food service operators, and consumers worldwide. With a commitment to sustainability and quality, the company aims to provide nutritious and healthy food options while promoting environmentally responsible practices throughout its operations.
What a fantastic six months it’s been for Fresh Del Monte Produce. Shares of the company have skyrocketed 46.7%, hitting $33.97. This was partly thanks to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
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Shares of fresh produce company Fresh Del Monte (NYSE:FDP)
jumped 15.3% in the morning session after the company reported third-quarter earnings that blew past analysts' EBITDA and EPS expectations. Its revenue and gross margin also outperformed Wall Street's estimates. Zooming out, we think this was a good quarter with some key areas of upside.
Fresh produce company Fresh Del Monte (NYSE:FDP) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 1.6% year on year to $1.02 billion. Its non-GAAP profit of $0.77 per share was also 65.6% above analysts’ consensus estimates.
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Fresh Del Monte Produce Inc is an integrated producer, marketer & distributor of fresh-cut fruit & vegetables. Over the past year, Fresh Del Monte’s share price increased about 4.5% from $26.67 to $27.86 as of Monday’s market close.
FDP stock results show that Fresh Del Monte Produce missed analyst estimates for earnings per share and missed on revenue for the first quarter of 2024.
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