Fresh Del Monte Produce reported its financial results for the fourth quarter and full fiscal year ended December 26, 2025.
For fiscal 2025, net sales increased year over year, supported by contributions across all business segments and an improved product mix. Gross margin expansion was driven by a favorable mix and operational efficiencies. Earnings per diluted share were $1.88, while adjusted earnings per diluted share increased 22% year over year to $3.68. Cash generation supported dividends, share repurchases, and capital deployment.
Fourth quarter 2025
Net sales were $1,019.5 million. The increase was primarily driven by higher sales in other products and services and the banana segment, reflecting increased third-party ocean freight activity and higher per-unit banana prices. Tariff-related price adjustments in North America and favorable exchange rate movements, mainly related to the Euro, also contributed. This was partially offset by lower sales in fresh and value-added products due to reduced fresh-cut vegetable volumes following strategic actions taken in 2024, including the sale of certain Fresh Leaf Farms assets. Adjusted net sales were $968.2 million.
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Gross profit for the quarter was $106.0 million, with a gross margin of 10.4%. Higher per-unit selling prices across segments drove the increase, partially offset by higher distribution, production, and procurement costs in bananas. Adjusted gross profit was $109.2 million, with adjusted gross margin at 11.3%.
Operating income was $46.0 million, reflecting higher gross profit, partially offset by a lower gain on the sale of property, plant, and equipment compared with the prior-year Toronto distribution center sale. Adjusted operating income was $47.6 million.
Net income attributable to FDP was $31.9 million, while adjusted net income was $33.2 million. Earnings per diluted share were $0.67, or $0.70 on an adjusted basis.
Full fiscal year 2025
Net sales reached $4,322.3 million. Growth was driven by higher per-unit selling prices in fresh and value-added products and bananas, tariff-related pricing adjustments in North America, and favorable exchange rate impacts related to the Euro and British pound. Lower fresh-cut vegetable volumes partially offset the increase. Adjusted net sales were $4,097.5 million.
Gross profit was $399.1 million, with gross margin at 9.2%. Adjusted gross profit was $426.8 million, and adjusted gross margin was 10.4%.
Operating income was $137.4 million, reflecting higher asset impairment charges related to low-productivity banana farms in the Philippines, charges associated with the Mann Packing divestiture, and lower gains on asset disposals. Adjusted operating income was $221.9 million.
Net income for the year was $90.7 million, while adjusted net income totaled $177.7 million.
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© Fresh Del MonteFor more information:
Claudia Pou
Fresh Del Monte Produce
Tel: +1 305 520 8433
Email: [email protected]
www.investorrelations.freshdelmonte.com
