Fresh Del Monte Produce Inc (NYSE:FDP) shares are trading lower on Wednesday after the first-quarter full year 2025 earnings.
The company reported a first-quarter revenue decline of 0.9% year-on-year to $1.10 billion, missing the analyst consensus estimate of $1.11 billion.
The decrease in net sales was primarily driven by lower net sales in the company’s banana segment primarily as a result of lower sales volume and the negative impact of fluctuations in exchange rates.
Adjusted EPS of $0.63 missed the consensus estimate of $0.68.
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Gross profit jumped 12% Y/Y to $92.2 million, and the profit margin expanded 100 basis points to 8.4%.
The operating margin was 4%, and operating income for the quarter remained flat at 44.9 million.
Adjusted EBITDA jumped 40.9% to $61.3 million with an adjusted EBITDA margin of 5.7%.
The operating cash flow for the quarter totaled $46.1 million.
On April 29, 2025, the company’s board of directors declared a quarterly cash dividend of $0.30 per share, payable on June 6, 2025, to shareholders of record on May 14, 2025.
The company held $34.4 million in cash and equivalents as of March 28, 2025. Long-term debt as of the end of the quarter decreased to $233 million from $244 million as of the end of 2024.
FDP Price Action: Fresh Del Monte Produce shares traded lower by 3.19% at $33.66 at publication on Wednesday.
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