FRESH DEL MONTE PRODUCE INC

Listed Company

FDPCIK 0001047340NYSELarge AcceleratedAgricultural Production-CropsE9FY ends Dec 26

Period

FY 2025

Revenue

$4.32B

Net Income

$90.70M

Total Assets

$3.06B

Equity

$2.02B

Shares Out

47.38M

Op. Cash Flow

$245.10M

Business

Fresh Del Monte Produce Inc. is a vertically integrated producer, marketer and distributor of fresh and fresh-cut fruit and vegetables and prepared fruit and vegetable products worldwide. It offers fresh pineapples, bananas, avocados, melons, a wide variety of fresh-cut fruit and vegetables, prepared foods, juices, beverages, snacks and related value-added services. The business is organized into three reportable segments: Fresh and value‑added products, Banana, and Other products and services (including third‑party freight and logistics, poultry/meats and biomass initiatives). The company sells through retail stores, club stores, convenience stores, wholesalers, distributors and foodservice operators across more than 80 countries, with major markets in North America, Europe, the Middle East, Africa and Asia.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	4,322	4,280	4,321	4,442	4,252
Cost of products sold	3,923	3,922	3,970	4,102	3,948
Gross profit	399	358	351	340	304
Selling, general and administrative expenses	213	197	187	187	193
Gain on disposal of property, plant and equipment and subsidiary, net	10	40	38	−2	5
Asset impairment and other charges, net	59	4	143	−5	5
Operating income	137	196	59	156	111
Interest expense	11	18	24	24	20
Interest income	2	1	1	700,000	600,000
Other expense, net	10	18	18	15	9
Income before income taxes	131	171	17	118	82
Income tax provision	37	29	18	20	2
Net income (loss)	94	142	−2	98	80
Less: Net income (loss) attributable to redeemable and noncontrolling interests	3	−600,000	10	−900,000	−100,000
Net income (loss) attributable to Fresh Del Monte Produce Inc.	91	142	−11	99	80
Net income (loss) per ordinary share attributable to Fresh Del Monte Produce Inc. - Basic	1.9	2.97	−0.24	2.06	1.68
Net income (loss) per ordinary share attributable to Fresh Del Monte Produce Inc. - Diluted	1.88	2.96	−0.24	2.06	1.68
Dividends declared per ordinary share (usd per share)	1.2	1	0.75	0.6	0.5
Basic (in shares)	48	48	48	48	48
Diluted (in shares)	48	48	48	48	48
Income (Loss) from Equity Method Investments	13	9	−1	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	36	33	34	17	16
Trade accounts receivable, net of allowance of $38.2 and $35.0, respectively	376	393	387	374	343
Other accounts receivable, net of allowance of $4.9 and $8.9, respectively	86	78	95	91	94
Inventories, net	582	595	600	669	603
Assets held for sale	10	10	5	67	16
Prepaid expenses and other current assets	52	24	24	23	24
Total current assets	1,141	1,133	1,144	1,241	1,096
Investments in and advances to unconsolidated companies	63	40	22	18	9
Property, plant and equipment, net	1,120	1,192	1,256	1,310	1,416
Operating lease right-of-use assets	193	186	214	214	199
Goodwill	390	396	402	423	424
Intangible assets, net	33	33	33	135	143
Deferred income taxes	46	48	52	47	54
Other noncurrent assets	74	69	61	71	58
Total assets	3,059	3,096	3,184	3,459	3,398
Accounts payable and accrued expenses	467	476	479	550	580
Current maturities of debt and finance leases	2	2	1	1	1
Current maturities of operating leases	45	39	49	42	37
Income taxes and other taxes payable	15	17	12	14	11
Total current liabilities	529	533	541	607	629
Long-term debt and finance leases	176	249	406	547	528
Operating leases, less current maturities	126	122	142	147	136
Retirement benefits	92	83	82	82	90
Other noncurrent liabilities	26	27	28	29	72
Deferred income taxes	79	75	73	72	70
Total liabilities	1,029	1,089	1,271	1,484	1,525
Commitments and contingencies (See note 16)	—	—	—	—	—
Preferred shares, $0.01 par value; $50,000,000 shares authorized; none issued or outstanding	0	0	0	0	0
Ordinary shares, $0.01 par value; $200,000,000 shares authorized; 47,373,027 and 47,940,300 issued and outstanding, respectively	500,000	500,000	500,000	500,000	500,000
Paid-in capital	607	605	598	548	541
Retained earnings	1,447	1,435	1,341	1,398	1,328
Accumulated other comprehensive loss	−38	−50	−43	−42	−67
Total Fresh Del Monte Produce Inc. shareholders' equity	2,016	1,991	1,896	1,905	1,802
Noncontrolling interests	14	16	16	21	22
Total shareholders' equity	2,030	2,007	1,913	1,926	1,824
Total liabilities, redeemable noncontrolling interest and shareholders' equity	3,059	3,096	3,184	3,459	3,398

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	73	79	85	93	97
Amortization of debt issuance costs	500,000	500,000	500,000	600,000	600,000
Share-based compensation expense	10	7	10	7	8
Asset impairment charges	55	4	141	4	4
Change in uncertain tax positions	2	−1	2	2	2
Deferred income taxes	8	4	−4	3	−15
Other, net	−3	3	−2	2	−11
Receivables	35	−10	−19	−37	−14
Inventories	3	−2	65	−72	−105
Prepaid expenses and other current assets	−900,000	−2	2	−200,000	7
Accounts payable and accrued expenses	−19	11	−64	−18	78
Other noncurrent assets and liabilities	11	−3	4	−10	2
Net cash provided by operating activities	245	183	178	62	129
Capital expenditures	−64	−52	−58	−48	−99
Investments in and advances to unconsolidated companies	−13	−8	−5	−10	7
Proceeds from sales of property, plant and equipment and subsidiary	25	74	120	9	18
Insurance proceeds received for damage to property, plant and equipment, net	0	6	0	0	—
Distributions from unconsolidated companies	3	0	100,000	—	—
Other investing activities	100,000	0	−500,000	200,000	900,000
Net cash (used in) provided by investing activities	−49	20	56	−49	−83
Proceeds from long-term debt	354	620	591	1,066	703
Payments on long-term debt	−425	−776	−730	−1,046	−726
Purchase of noncontrolling interest	0	0	−5	0	0
Distributions to noncontrolling interests	−5	0	−18	−900,000	−7
Payment of deferred financing costs	0	−2	0	0	—
Repurchase and retirement of ordinary shares	−30	0	−12	0	0
Share-based awards settled in cash for taxes	−1	−900,000	−800,000	−2	−400,000
Dividends paid	−57	−48	−36	−29	−24
Other financing activities	−2	−3	−2	−2	0
Net cash used in financing activities	−166	−210	−214	−12	−53
Effect of exchange rate changes on cash	900,000	6	−4	400,000	7
Net increase (decrease) in cash and cash equivalents	32	−1	17	1	−400,000
Cash paid for interest	13	20	24	24	20
Cash paid for income taxes	18	16	15	13	10
Right-of-use assets obtained in exchange for new operating lease obligations	56	38	51	60	79
Noncash or Part Noncash Divestiture, Amount of Consideration Received	31	0	0	—	—
Noncash or Part Noncash Acquisition, Investments Acquired	800,000	0	0	—	—
Right-of-use assets obtained in exchange for new finance lease obligations	0	100,000	200,000	100,000	10
Note receivable received in exchange for minority interest in subsidiary	0	500,000	0	0	—
Dividends on restricted stock units	500,000	400,000	400,000	0	200,000
Non-cash conversion of note receivable in exchange for investment in unconsolidated company	0	700,000	0	0	—

Filings

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