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Fresh Del Monte Produce (FDP) investor relations material
Fresh Del Monte Produce Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q3 2025 were $1.022 billion, nearly flat year-over-year, driven by higher banana segment prices and favorable exchange rates, offset by lower fresh-cut vegetable volumes.
Gross margin expanded in fresh and value-added products, with strong pineapple performance, while banana segment margins compressed due to higher production costs, disease, and adverse weather.
Strategic actions included the agreement to divest Mann Packing and exit underperforming banana farms in the Philippines, resulting in $56 million in impairment charges.
Operating loss for Q3 2025 was $21.8 million, primarily due to asset impairment and exit charges.
Net loss attributable to shareholders was $29.1 million; adjusted net income was $33.1 million.
Financial highlights
Q3 2025 net sales: $1.022 billion; adjusted net sales: $960 million.
Gross profit: $81 million; adjusted gross profit: $88 million; gross margin: 7.9%; adjusted gross margin: 9.2%.
Adjusted operating income: $40 million; adjusted net income: $33 million; adjusted diluted EPS: $0.69.
Adjusted EBITDA: $58 million; adjusted EBITDA margin: 6.0%.
Net cash from operating activities for the first nine months was $234 million.
Outlook and guidance
Management expects the Mann Packing divestiture and focus on higher-margin, value-added products to drive future gross margin expansion.
Fresh and value-added product segment gross margin (excluding Mann Packing) expected in the 11%-13% range; banana segment gross margin expected to compress to around 4%.
SG&A expenses forecasted at $205 million-$207 million; CapEx for the year revised to $60 million-$70 million.
Net cash from operating activities expected to reach $190 million-$200 million.
Ongoing volatility anticipated from macroeconomic, weather, and geopolitical factors, including shipping disruptions and inflation.
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