Loading...
•
Dec 31, 2021
Fresh Del Monte Q4 2021 Earnings Report
Reported a slight revenue increase, but experienced a net loss due to various factors including asset sales and inflationary pressures.
Key Takeaways
Fresh Del Monte Produce reported a 2% increase in net sales for Q4 2021, reaching $1,017.3 million. However, the company experienced a net loss of $(11.2) million, a decrease compared to the prior-year period's net income of $0.9 million. The increase in net sales was driven by the other products and services segment, as well as the fresh and value-added products segment. The company declared a quarterly cash dividend of $0.15 per share.
Net sales increased by 2% to $1,017.3 million compared to the prior-year period.
FDP net loss was $(11.2) million compared to net income of $0.9 million in the prior-year period.
Gross profit increased by 9% to $39.8 million compared to the prior-year period.
The Board of Directors declared a quarterly cash dividend of $0.15 per share.
Revenue by Segment
Forward Guidance
The company anticipates long-term growth by focusing on its core business, expanding value-added categories, leveraging technology, and growing customer and brand partnerships.
Positive Outlook
- Focusing on growing core business.
- Increasing the reach of higher-margin value-added categories.
- Implementing and leveraging technology solutions as the company evolves into an Agritech company.
- Expanding customer and brand partnerships throughout global operations.
- Robust double-digit operating income growth compared with 2020.
Challenges Ahead
- Challenging macroeconomic environment.
- Industry-wide supply and labor headwinds.
- Continuation of inflationary and other cost pressures.
- Higher per unit production and distribution costs, including packaging materials, fertilizers, inland freight, labor and fuel.
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...