Fresh Del Monte Produce Inc. FDP(“Fresh Del Monte” or the “Company”) today reported financial results for the third quarter ended September 30, 2022.
Financial highlights for the third quarter of 2022:
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Fresh Del Monte Produce Inc. and Subsidiaries |
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(US$ in millions, except per share data) – (unaudited) |
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quarter ended |
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09/30/2022 |
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October 1, 2021 |
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net sales |
$1,053.5 |
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$1,004.8 |
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gross profit |
$88.0 |
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$48.9 |
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FDP net income(1) |
$33.3 |
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$1.3 |
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Diluted EPS(2) |
$0.69 |
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$0.03 |
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Adjusted diluted earnings per share(3) |
$0.54 |
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$0.01 |
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Adjusted EBITDA(3) |
$57.8 |
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$26.2 |
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Adjusted EBITDA margin(3) |
5.5% |
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2.6% |
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dividend payment |
$0.15/share |
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$0.15/share |
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“We delivered solid performance across our business, delivering strong net sales and profitability despite ongoing macroeconomic headwinds,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer.
“We continue to invest in the growth of our business, which is focused on technology, product innovation and diversification, including new higher-margin product offerings in ready meals and convenience, as well as an investment in blockchain-powered traceability technology.”
Mr. Abu-Ghazaleh added, “Our team’s efforts have enabled us to thrive this quarter in the face of wide-ranging challenges, including ongoing inflation, geopolitical risks and fuel market volatility. I remain confident in our…
