Loading...
•
Jan 01, 2021
Fresh Del Monte Q4 2020 Earnings Report
Announced fourth quarter and full year 2020 financial results.
Key Takeaways
Fresh Del Monte Produce reported mixed results for Q4 2020, with net sales slightly decreasing to $1,002.3 million compared to $1,025.2 million in Q4 2019. The company reported earnings per diluted share of $0.02, compared with a loss per diluted share of $0.54 in the fourth quarter of 2019. The company benefited from actions taken as part of their $100 million asset sale optimization program, progress on their five-year strategic initiatives, improved cash flow and reduced debt.
Completed 40% of $100 million asset sale optimization program.
Continued making progress on transformation initiatives.
Reduced long-term debt by $45 million as compared to the end of 2019.
Company benefited from actions taken as part of their $100 million asset sale optimization program.
Revenue by Segment
Forward Guidance
The company anticipates seeing gains in its performance during 2021 with an improved balance sheet, and strategic focus on value-added products to respond to the shift in delivery channels driven by the trend towards a stay-at-home economy.
Positive Outlook
- Improved balance sheet
- Strategic focus on value-added products
- Responding to the shift in delivery channels
- Trend towards a stay-at-home economy
- Delivering shareholder value over the long-term
Challenges Ahead
- Impact of the COVID-19 outbreak on our business, suppliers, customers, consumers, employees, and communities
- Disruptions or inefficiencies in our operations or supply chain, including any impact of the COVID-19 outbreak
- The duration and spread of the pandemic and related government restrictions and our ability to maintain the safety of our workforce
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...