Fresh Del Monte Produce Explores Strategic Alternatives for Mann Packing Operation

2/26/24 6:09:38 AM ET

Farming/Seeds/Milling

Consumer Staples

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Mr. Abu-Ghazaleh added, "During the fall of this year, we conducted a strategic review and assessed our operational priorities of our North America operations, including Mann Packing. Preliminary findings of this review were finalized in the fourth quarter. As a result of this strategic review and other factors, we recorded a non-cash impairment of $131.2 million in the quarter, primarily related to our Mann Packing operation. We are exploring strategic alternatives for this business while continuing to focus on improving profitability in all areas of our business, including innovations and strategic partnerships, in addition to controlling our costs this next fiscal year."

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Fresh Del Monte Produce Inc. Reports Third Quarter Earnings for Fiscal 2024
Gross Margin Increased By 180 Basis Points Compared to the Prior-Year Period: Driven by Fresh and Value-Added Products Segment Strategic Decision on Mann Packing Finalized to Enhance Profitability and Position for Growth Fresh Del Monte Produce Inc. (NYSE:FDP), ("Fresh Del Monte" or the "Company") today reported financial results for the third quarter ended September 27, 2024. "We are pleased to report strong performance in the third quarter. Our strategic focus on high-margin, value-added products continues to deliver positive results, demonstrating the strength of our product innovations and our commitment to driving long-term profitability and value for our shareholders," said Fresh D
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Fresh Del Monte's Mann Packing Sells Fresh Leaf Farms to First Leaf Farms, a New Partnership between Costa Family and The Nunes Family
Strategic move allows Mann Packing to focus on operational efficiency and product innovation while strengthening Costa and Nunes Families' leadership in leafy greens Fresh Del Monte Produce Inc. (NYSE:FDP), through its vegetable division Mann Packing, announced the sale of its Fresh Leaf Farms brand and operations to First Leaf Farms—a new partnership between the Costa and Nunes families, both prominent leaders in the Salinas Valley produce industry. This transaction aligns with a shared commitment to drive innovation, enhance customer offerings, and strengthen leadership in the fresh produce sector. This press release features multimedia. View the full release here: https://www.businesswi
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Fresh Del Monte Produce Inc. to Report Third Quarter 2024 Financial Results
Fresh Del Monte Produce Inc. (NYSE:FDP) today announced that it will issue a press release on its third quarter financial results prior to market opening on Thursday, October 31, 2024, and will host its quarterly conference call that day at 11:00 a.m. Eastern Time to discuss the Company's financial results. Institutional investors, analysts and other members of the financial community are invited to join the live call by dialing 1 (888) 330-2454 (Domestic/Toll Free) or 1 (240) 789-2714 (International) and entering Passcode: 1313437. The live audio webcast of the conference call will be accessible in the Events & Presentations section on the Investor Relations page of the Fresh Del Monte we
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Fresh Del Monte Announces Appointment of Danny Dumas as Senior Vice President of Sales, Marketing & Product Management for North America
Fresh Del Monte Produce Inc. (NYSE:FDP), one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, announces today the appointment of Danny Dumas as Senior Vice President of Sales, Marketing & Product Management for North America. Dumas brings over 35 years of industry expertise and leadership to help drive Fresh Del Monte's continued growth and innovation in North America, one of the company's largest and most competitive markets. In his new role, Dumas will oversee North American sales, marketing, product management, technical services, and quality assurance for port operations — key components of F
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Fresh Del Monte Appoints Dr. Imad Farhat as SVP to Lead Specialty Ingredients Team, Focusing on Natural Ingredient Innovation
Visionary executive joins Fresh Del Monte to advance the ingredients industry through nature-driven solutions Fresh Del Monte Produce Inc. (NYSE:FDP), one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, announces today the appointment of Dr. Imad Farhat as Senior Vice President, Specialty Ingredients. Dr. Farhat will spearhead the company's vision to develop groundbreaking ingredients, derived from both Fresh Del Monte's portfolio and other agricultural products. Dr. Farhat will focus on harnessing the power of nature to drive Fresh Del Monte's long-term strategy in the ingredients industry. H
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Fresh Del Monte Appoints Dr. Nizar Haddad to Lead Innovation and Business Development, Overseeing Groundbreaking Biofertilizer Initiative
Visionary agricultural leader joins company to drive innovation and enhance operational efficiency Fresh Del Monte Produce Inc., one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, announces today the appointment of Dr. Nizar Haddad as Director of Innovation and Business Development at Fresh Del Monte, and General Manager of De l'Ora Bio, a Fresh Del Monte-led partnership with Vellsam Materias Bioactivas. De l'Ora Bio recently opened a groundbreaking biofertilizer plant in Kenya to maximize the use of Fresh Del Monte's pineapple byproducts. Dr. Haddad's appointment represents a significant ste
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What Does the Recent Purchase at Fresh Del Monte Produce Inc. on Jun 18 Indicate?
On June 18, 2024, an insider purchase transaction caught the attention of investors at Fresh Del Monte Produce Inc. SVP, CHRO Tenazas Marissa R made a significant move by acquiring $43,694 worth of Ordinary Shares, consisting of 2,000 units at $21.85 per unit. This purchase translated into a remarkable increase in direct ownership by 1,852% for Tenazas Marissa R, bringing her total holdings to 2,108 units, as disclosed in the SEC Form 4 filing. This substantial increase in ownership might signal confidence in the company's future prospects and potentially hint at positive developments within Fresh Del Monte Produce Inc. The timing of this insider purchase is particularly interesting when vi
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Fresh Del Monte Produce Q1 2024 Adj EPS $0.34 Misses $0.60 Estimate, Sales $1.108B Miss $1.152B Estimate
Fresh Del Monte Produce (NYSE:FDP) reported quarterly earnings of $0.34 per share which missed the analyst consensus estimate of $0.60 by 43.33 percent. This is a 38.18 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $1.108 billion which missed the analyst consensus estimate of $1.152 billion by 3.79 percent. This is a 1.77 percent decrease over sales of $1.128 billion the same period last year.
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Fresh Del Monte Produce Inc. Reports Third Quarter Earnings for Fiscal 2024
Gross Margin Increased By 180 Basis Points Compared to the Prior-Year Period: Driven by Fresh and Value-Added Products Segment Strategic Decision on Mann Packing Finalized to Enhance Profitability and Position for Growth Fresh Del Monte Produce Inc. (NYSE:FDP), ("Fresh Del Monte" or the "Company") today reported financial results for the third quarter ended September 27, 2024. "We are pleased to report strong performance in the third quarter. Our strategic focus on high-margin, value-added products continues to deliver positive results, demonstrating the strength of our product innovations and our commitment to driving long-term profitability and value for our shareholders," said Fresh D
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Fresh Del Monte Produce Inc. (NYSE:FDP) today announced that it will issue a press release on its third quarter financial results prior to market opening on Thursday, October 31, 2024, and will host its quarterly conference call that day at 11:00 a.m. Eastern Time to discuss the Company's financial results. Institutional investors, analysts and other members of the financial community are invited to join the live call by dialing 1 (888) 330-2454 (Domestic/Toll Free) or 1 (240) 789-2714 (International) and entering Passcode: 1313437. The live audio webcast of the conference call will be accessible in the Events & Presentations section on the Investor Relations page of the Fresh Del Monte we
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Strong Margin Improvement in the Fresh and Value-Added Products Segment Compared with the Prior-Year Period, Highlights Strategic Focus Debt Falls Below $300M, Signaling Strengthened Financial Stability Fresh Del Monte Produce Inc. (NYSE:FDP), ("Fresh Del Monte" or the "Company") today reported financial results for the second quarter ended June 28, 2024. "We are pleased to see our growth strategy and company focus yielding positive results, in the fresh and value-added products segment, where we achieved strong margin improvement during the second quarter of 2024. We see pineapple, fresh-cut fruit, avocados, and value-added products as core strengths—with consumers appreciating the i
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Fresh Del Monte Produce Explores Strategic Alternatives for Mann Packing Operation

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Recent Analyst Ratings for $FDP

$FDP Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

SVP, CHRO Tenazas Marissa R bought $43,694 worth of Ordinary Shares (2,000 units at $21.85), increasing direct ownership by 1,852% to 2,108 units (SEC Form 4)

Abu Ghazaleh Amir bought $312,974 worth of Ordinary Shares (13,249 units at $23.62), increasing direct ownership by 0.41% to 3,267,557 units (SEC Form 4)

$FDP Large Ownership Changes

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SEC Form SC 13G/A filed by Fresh Del Monte Produce Inc. (Amendment)

SEC Form SC 13G/A filed by Fresh Del Monte Produce Inc. (Amendment)

SEC Form SC 13G/A filed by Fresh Del Monte Produce Inc. (Amendment)

$FDP Insider Trading

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Chairman and CEO Abu-Ghazaleh Mohammad gifted 2,000,000 units of Ordinary Shares, decreasing direct ownership by 28% to 5,028,997 units (SEC Form 4)

Director Berthelot Michael J sold $14,608 worth of Ordinary Shares (509 units at $28.70), decreasing direct ownership by 4% to 13,407 units (SEC Form 4)

SEC Form 4 filed by SVP, Chief Financial Officer Vicente Monica

Fresh Del Monte Produce Inc. Reports Third Quarter Earnings for Fiscal 2024

Fresh Del Monte's Mann Packing Sells Fresh Leaf Farms to First Leaf Farms, a New Partnership between Costa Family and The Nunes Family

Fresh Del Monte Produce Inc. to Report Third Quarter 2024 Financial Results

Fresh Del Monte Announces Appointment of Danny Dumas as Senior Vice President of Sales, Marketing & Product Management for North America

Fresh Del Monte Appoints Dr. Imad Farhat as SVP to Lead Specialty Ingredients Team, Focusing on Natural Ingredient Innovation

Fresh Del Monte Appoints Dr. Nizar Haddad to Lead Innovation and Business Development, Overseeing Groundbreaking Biofertilizer Initiative

$FDP Insider purchases explained

Analytical look into recent insider purchases

What Does the Recent Purchase at Fresh Del Monte Produce Inc. on Jun 18 Indicate?

$FDP SEC Filings

SEC Form 10-Q filed by Fresh Del Monte Produce Inc.

Fresh Del Monte Produce Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

SEC Form 144 filed by Fresh Del Monte Produce Inc.

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What Does the Recent Purchase at Fresh Del Monte Produce Inc. on Jun 18 Indicate?

Fresh Del Monte Produce Q1 2024 Adj EPS $0.34 Misses $0.60 Estimate, Sales $1.108B Miss $1.152B Estimate

$FDP Financials

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Fresh Del Monte Produce Inc. Reports Third Quarter Earnings for Fiscal 2024

Fresh Del Monte Produce Inc. to Report Third Quarter 2024 Financial Results

Fresh Del Monte Produce Inc. Reports Second Quarter Earnings for Fiscal 2024

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