Operating income for Chiquita’s bananas segment improved 52.3% to $66 million for the quarter, while its Salads and Healthy Snacks business improved 284.9% to $28 million.
“In the second quarter of 2015, our core Bananas and Salads and Healthy Snacks businesses both performed above the same period of 2014,” the company said of its operating income in the SEC filing.
According to a document filed with the Securities and Exchange Commission (SEC), Chiquita, now privately owned, earned profits of $59.6 million compared to $17.8 million during the same time last year.
For its three business segments, Bananas, Salads and Healthy Snacks, and Other Produce, Chiquita posted net sales of $776.6 million, with a decrease across all three segments. The following is a breakdown of each business in net sales:
- Bananas: $502.2 million, compared to $537 million in Q2 2014
- Salads and Healthy Snacks: $248.1 million, compared to $249 million in Q2 2014
- Other Produce: $26.3 million, compared to $39 million in Q2 2014
Other highlights include:
- Net sales decreased on a consolidated basis by 6.0%. In Chiquita’s Bananas segment, the decrease in net sales was driven by lower volume in North America and the impact from foreign exchange offset slightly by higher banana pricing
- Salads and Healthy Snacks segment sales remained flat, year-over-year, as a result of increased retail volume, improved product mix, and more efficient use of trade spend, offset by a decline in sales volume for the healthy snacks, food service, and processed fruit ingredient businesses
- Other produce sales decreased primarily as a result of lower volume
- Cost of sales decreased 10.9% on a consolidated basis. The primary drivers of lower costs were reduced weather impacts as compared to the second quarter of 2014, lower fruit volumes in 2015, and lower fuel costs
