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Jul 02, 2021
Fresh Del Monte Q2 2021 Earnings Report
Fresh Del Monte reported financial results for the second quarter ended July 2, 2021.
Key Takeaways
Fresh Del Monte Produce Inc. reported a 5% increase in net sales to $1,141.6 million and a significant rise in net income to $47.2 million for the second quarter of 2021, driven by strong performance in pineapple, fresh-cut fruit, and prepared food products, despite inflationary pressures.
Net sales increased 5% to $1,141.6 million compared to the prior-year period.
Gross profit increased by 40% to $110.0 million, with gross profit margin rising to 9.6%.
Net income for the second quarter of 2021 was $47.2 million, compared to $17.9 million in the prior-year period, with diluted EPS at $0.99.
Adjusted diluted EPS was $0.98, compared to $0.54 in the prior-year period.
Revenue by Segment
Forward Guidance
The company expects inflationary and cost pressures to continue.
Challenges Ahead
- Anticipates continuing inflationary pressures.
- Expects ongoing cost pressures.
- Potential impacts from the COVID-19 pandemic.
- Possible disruptions in operations or supply chain.
- Risks associated with international operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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