Announces Moving to a Virtual Meeting for 2020 Annual General Meeting of Shareholders April 08, 2020 06:00 AM Eastern Daylight Time Annual Reports: Unsubscribe : Enter the code shown above. We reevaluated the presentation of non-GAAP adjusted net income and adjusted net income per share and made these changes to facilitate the evaluation of the Company's current operating performance and the comparability of the Company's current operating performance to past performance. Second Quarter 2020 Business Segment Performance and Selected Financial Data. ... Report on a separate line for each class of securities beneficially owned directly or indirectly. Fresh Del Monte Produce Inc Form 4. Unit cost was 11% higher. That’s why we grow with care to preserve Earth’s goodness and give back to our communities. The call will be available for re-broadcast on the Company’s website approximately two hours after the conclusion of the call for a period of one year. ... Report on a separate line for each class of securities beneficially owned directly or indirectly. This press release contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company’s plans and future performance, including the Company’s expectations (i) that its transformation will continue in the quarters ahead and (ii) to improve its asset utilization around the globe, create efficiencies in its operations and position the Company to deliver stronger long-term performance. Coral Gables, FL – Del Monte Fresh Produce N.A., Inc., one of North America’s leading marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, is excited to today share news of its 2020 Holiday Campaign, which encompasses everything from updated fruit sticker and tag designs to a new message on sustainability as the country enters the holiday 2020 season. Notes Due 2025, you can access earnings announcements and our virtual financial data room at IntraLinks. ... Report on a separate line for each class of securities beneficially owned directly or indirectly. Are used by investors to measure a company's comparable operating performance; Are financial measurements that are used by lenders and other parties to evaluate creditworthiness; and. ... which was met at 100%. Are used by the Company's management for various purposes, including as measures of performance of its operating entities and as a basis of strategic planning and forecasting. Net income You must click the link in the email to activate your subscription. Adjusted gross profit in the second quarter of 2020 was $89.3 million, compared with $98.2 million in the second quarter of 2019. In this press release, these statements are preceded by, followed by or include the words “believes”, “expects”, “anticipates” or similar expressions with respect to various matters. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. Adjusted operating income was $43.7 million in the second quarter of 2020, compared with adjusted operating income of $52.9 million in the second quarter of 2019. ... which was met at 100%. Fresh Del Monte Produce Inc Form 4. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. Fresh Del Monte is one of the world's leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as leading producer and distributor of prepared food across the globe. disruptions or inefficiencies in our operations or supply chain, including any impact of the COVID-19 outbreak, (iii) the duration and spread of the pandemic and related government restrictions and our ability to maintain the safety of our workforce, (iv) our ability to successfully execute our plan to stabilize our core business, diversify our business and transform our business to a value-added business, ... Risk Factors” in Fresh Del Monte Produce Inc.’s Annual Report … Fresh Del Monte Produce Inc. (NYSE: FDP), today announced that it will issue a press release on its second quarter 2020 results prior to the market opening on Wednesday, July 29, 2020 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company’s financial results. Trademarks used on the website are protected by U.S. and international law. Fresh Del Monte’s actual plans and performance may differ materially from those in the forward-looking statements as a result of various factors, including (i) the impact of the COVID-19 outbreak on our business, suppliers, customers, consumers, employees, and communities, (ii) Our Culture; Who We Look For; Our People; People Programmes; Locations; Apply; DMPL Worldwide. Fresh Del Fresh Del Monte Produce to Report Third Quarter 2020 Financial Results. The decrease was primarily the result of lower operating income and the decrease in other (expense) income net, partially offset by lower provision for income taxes. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. The PSUs vested in three equal annual installments on each of 2/20/2014, 2/20/2015 and 2/20/2016. The PSUs vest in three equal annual installments on each of 2/20/2020, 2/20/2021 and 2/20/2022. Company reduced long-term debt by $51.8 million since the end of 2019, driven by strong operating cash flow. Volume was 32% lower. Fresh Del Monte Produce to Report Second Quarter 2017 Financial Results. attributable Fresh Del Monte Produce Inc. (FDP) latest earnings report: revenue, EPS, surprise, history, news and analysis. Fresh Del Monte Produce Inc. is one of the world's largest suppliers of fresh and prepared produce. ... Fresh Del Monte Produce Announces 2019 Annual General Meeting of Shareholders. Monte - “Risk Factors” in Fresh Del Monte Produce Inc.’s Quarterly Report on Form 10-Q for the quarter ended March 27, 2020 and its Annual Report on Form 10-K for the year ended December 27, 2019, along with other reports that the Company has on file with the Securities and Exchange Commission. Some of the information presented in this press release reflects adjustments to GAAP measures such as amounts related to restructuring, asset impairment and other charges (credits), net, gain on disposal of property, plant and equipment, net, other product-related charges and certain other non-recurring items, if any. Fresh Del Monte markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness and reliability for over 125 years. 2020 Annual General Meeting. ... Report on a separate line for each class of securities beneficially owned directly or indirectly. The PSUs vest in three equal annual installments on each of 11/2/2012, 11/2/2013 and 11/2/2014. Total debt decreased from $587.1 million at the end of 2019 to $535.3 million at the end of the second quarter of 2020. Partially offsetting this decrease were higher sales volumes and per unit selling prices of canned pineapple products due to increased customer demand and higher selling prices of pineapple concentrate due to lower industry supply. Despite COVID-19 Company reported net income per diluted share of $0.38 and adjusted net income per diluted share of $0.54, Company reduced long-term debt by $51.8 million since the end of 2019, driven by strong operating cash flow, Company continues transformation of the fresh and value-added products segment. To receive notifications via email, enter your email address and select at least one subscription below. Fresh Del Monte Produce Inc. Reports Second Quarter 2020 Financial Results, CECAB Operations and Sales (Colombia, Ecuador, Central America and Brazil), Europe/Sub Saharan Africa Operations and Sales, Middle East /North Africa Operations and Sales, https://www.businesswire.com/news/home/20200729005191/en/, contact-US-executive-office@freshdelmonte.com. Income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for each jurisdiction in which such charges were incurred, except for those items which are non-taxable for which the tax provision (benefit) was calculated at 0%. Unit cost was 10% higher. 11.01.2018 | ... Fresh Del Monte Produce to Report Third Quarter 2020 Financial Results. Our liquidity and ability to generate positive cash-flows remained strong during the quarter. ... Report on a separate line for each class of securities beneficially owned directly or indirectly. The decrease in net sales of $147.1 million was attributable to lower net sales in all of the Company's business segments. Asset impairment and other charges (credits), net for the six months ended June 28, 2019 related to impairments of an equity investment and underutilized assets in South America, and contract termination charges in the Philippines related to a previously announced restructuring. Click the button below to request a report when hardcopies become available. Vegetables - Net sales were $35.0 million, compared with $42.8 million in the prior year period. FY2020 Annual Report: FY2019 Annual Report: FY2018 Annual Report: FY2017 Annual Report: FY2016 Annual Report: FY2015 Annual Report: CY2013 Annual Report *Starting 2014, DMPL has changed its fiscal year to end in April, in line with Del Monte Foods, Inc, its US subsidiary In addition, the impact of the Company's voluntary product recall in the fourth quarter of 2019 continued to negatively impact its fresh-cut vegetable net sales during the quarter as volumes have not returned to pre-recall levels. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. The Company uses adjusted operating income and adjusted net income to evaluate its period-over-period operating performance because management believes they provide more comparable measures of the Company's underlying operating performance as they adjust for special items to provide greater clarity to management and investors. Welcome to the Fresh Del Monte Produce Inc. website, Freshdelmonte.com. Ltd. The six months ended June 26, 2020 also included a $1.7 million tax benefit associated with the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. The RSUs were awarded on 8/2/2017 and vest in five equal annual installments over four years of which one is remaining on 8/2/2021. The COVID-19 pandemic impacted net sales during the second quarter by an estimated $132.0 million, in its fresh and value-added products and banana segments, as compared to the Company's original expectations for these segments which were developed prior to the pandemic. Annual Reports: Unsubscribe : Enter the code shown above. attributable You must click the link in the email to activate your subscription. Fresh Del Monte Produce Inc. Reports Second Quarter 2020 Financial Results. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. Volume was 5% lower. The Company’s plans and performance may also be affected by the factors described in Item 1A. The decrease in operating income was due to lower gross profit, lower gains on disposal of property, plant and equipment, net, and higher asset impairment and other charges (credits), net. (1) Refer to Non-GAAP measures section for further reconciliation of Non-GAAP measures. Pricing was 2% higher. Net income attributable to Fresh Del Monte Produce Inc. Net income per ordinary share attributable to. 10.21.2020 Comments off. Fresh Del Monte Produce Inc. (NYSE: FDP), today announced that it will issue a press release on its second quarter 2020 results prior to the market opening on Wednesday, July 29, 2020 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company’s financial results. per diluted Our fiscal year runs from May 1 through April 30. Fresh Del Monte Produce Inc Form 4. Shipping Information. 10.21.2020 Comments off. Our transformation is expected to continue in the quarters ahead as we look to improve our asset utilization around the globe, create efficiencies in our operations and position our Company to deliver stronger long-term performance.”. Whether you are an investor, one of our valued customers or just interested in learning more about Fresh Del Monte, by visiting, you will learn about our exciting and rapidly expanding global enterprise. Net sales for the second quarter of 2020 decreased to $636.2 million, compared with $764.3 million in the second quarter of 2019. Gain on settlement of litigation for the six months ended June 28, 2019 was $16.7 million consisting of proceeds of $17.0 million, net of expenses of $0.3 million. Because all companies do not use identical calculations, the Company's presentation of these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies. After submitting your information, you will receive an email. Net sales for the second quarter of 2020 decreased to $429.6 million, compared with $440.0 million in the second quarter of 2019, principally due to lower net sales in North America and Europe, partially offset by higher net sales in the Middle East and Asia. Pricing was 6% higher. Fresh Del Monte is one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa and the Middle East. The PSUs vested in three equal annual installments on each of 2/20/2014, 2/20/2015 and 2/20/2016. Form 4 filed by Fresh Del Monte Produce Inc with the security and exchange commission. View source version on businesswire.com: ... Fresh Del Monte Produce Inc. and its subsidiaries (Del Monte Fresh Produce or "Company") are not affiliated with Del Monte Foods, the owner of the Del Monte® trademark. If you need access to the data room or data room assistance, please send us an … Other product-related charges for the quarter and six months ended June 28, 2019 related to inclement weather in Central America. 2019 Annual Report and Form 10K. The decrease in net sales was primarily due to lower net sales in the Company's fresh-cut fruit and vegetable, avocado, pineapple and prepared food product lines. CORAL GABLES, Fla.-- (BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), today announced that it will issue a press release on its third quarter 2020 results prior to the market opening on Wednesday, October 28, 2020 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company’s … Management believes these adjustments provide a more comparable analysis of the underlying operating performance of the business. More disclosures related to the COVID-19 pandemic are available in the Company's Securities and Exchange Commission filings. Fresh Del Monte Produce Inc Form 4. “Even with these challenges and the nature of our perishable business, we remained focused on protecting the health and safety of our global team members, and we maintained our business continuity. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Fresh Del Monte Produce Inc Form 4. The increase was primarily attributable to lower payments of accounts payable and accrued expenses due to timing and lower levels of inventory and accounts receivable, partially offset by lower net income. THE LATEST FROM TWITTER. Everyone deserves great tasting food to help them thrive. Welcome to the Fresh Del Monte Produce Inc. website, Freshdelmonte.com. Fresh Del Monte Produce Inc Form 4. Fresh Del Monte is one of the world's leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as leading producer and distributor of prepared food across the globe. Request Information. Non-tropical fruit - Includes the Company's grape, apple, citrus, berry, pear, peach, plum, nectarine, cherry and kiwi product lines. Coral Gables, FL – Del Monte Fresh Produce N.A., Inc., one of North America’s leading marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, is excited to today share news of its 2020 Holiday Campaign, which encompasses everything from updated fruit sticker and tag designs to a new message on sustainability as the country enters the holiday 2020 season. (1) The Company's segment data disclosures for the year 2019 have been revised to reflect certain reclassification adjustments affecting cost of products sold. 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