Overview

* Fresh Del Monte fiscal Q2 rev grows 4% yr/yr, beating analyst expectations

* Gross profit for fiscal Q2 rises 6%, driven by fresh and value-added products

* Co maintains strong balance sheet with reduced long-term debt and robust cash flow

Outlook

* Fresh Del Monte expects growth in pineapple and fresh-cut fruit demand

Result Drivers

* PINEAPPLE AND FRESH-CUT FRUITS - Gains in gross profit driven by specialty pineapple varieties and fresh-cut fruit offerings

* EXCHANGE RATES - Favorable fluctuations in exchange rates, particularly the Euro, Yen, and Pound, contributed to higher net sales

* TARIFF ADJUSTMENTS - Tariff-related price adjustments in North America supported sales growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $1.18 $1.16

Revenue bln bln (1

Analyst)

Q2 Net $57.40

Income mln

Q2 Gross $120.10

Profit mln

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the fishing & farming peer group is "buy"

* Wall Street's median 12-month price target for Fresh Del Monte Produce Inc ( FDP ) is $39.00, about 7.5% above its July 29 closing price of $36.07

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)