Entering text into the input field will update the search result below

Fresh Del Monte Earnings Flat

Apr. 29, 2014 9:11 AM ETFDP
adspatz profile picture
adspatz's Blog
10 Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Originally published at www.seclive.com

Fresh Del Monte Produce Inc. (FDP) announced its first quarter financial results for the fiscal year 2014, reporting adjusted earnings per share that were flat compared to the year-ago quarter. The Florida-based company reported net sales of $982.3M, an improvement from last year's $918.8M, which it attributed to improvements across all of its business segments. Net income climbed from $41.1M and $0.71 per share last year to $58.6M and $1.04 per share. Chairman and CEO Mohammad Abu-Ghazaleh remarked that the company progressed well on its strategy and ensured it kept its costs low, while also expanding its operations worldwide, particularly the Middle East. The company's largest business segment, bananas, improved net sales by 8% from $406.0M to $436.9M with a 6% increase in volume. Its fresh produce performance improved from last year, with gold pineapple, fresh-cut, and tomato net sales leading the way with double-digit growth.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You