Fresh Del Monte Produce Inc. has reported its financial results for the third quarter ending September 26, 2025, with net sales of US$1.02 billion and a net loss of US$29.1 million. Adjusted net income stood at US$33.1 million.
According to Chairman and CEO Mohammad Abu-Ghazaleh, the company's performance reflected "strategic progress" in its fresh and value-added segment, alongside measures to streamline operations, including the divestment of Mann Packing and the exit from underperforming banana operations in the Philippines.
© Fresh Del Monte
Financial performance
Net sales rose slightly compared to the prior year, driven by higher per-unit prices in the banana and other products segments. The increase was supported by tariff-related price adjustments in North America and favourable Euro exchange rates, offset by lower sales in fresh-cut vegetables following operational reductions in late 2024.
Gross profit for the quarter was US$80.8 million, down due to higher production and distribution costs in the banana segment. Gross margin declined to 7.9%. Adjusted gross profit, excluding Mann Packing, was US$88.1 million, with an adjusted gross margin of 9.2%.
Operating loss was US$21.8 million, mainly reflecting asset impairments and charges related to banana operations in the Philippines and the planned Mann Packing divestiture. Adjusted operating income, excluding these effects, was US$39.7 million.
Business segments
Fresh and value-added products:
Net sales totalled US$610.5 million, reflecting lower avocado prices and reduced vegetable sales, partially offset by higher pineapple and fresh-cut fruit prices. Adjusted sales, excluding Mann Packing, were US$548.1 million. Gross profit increased to US$68.3 million, and adjusted gross profit was US$76 million, with margins of 11.2% and 13.9%, respectively.
Banana segment:
Net sales reached US$358 million, supported by higher selling prices across all regions, favourable exchange rates, and improved Middle East demand. Gross profit was US$4.6 million, down due to higher production costs linked to adverse weather and increased logistics expenses. Adjusted gross margin stood at 1.2%.
Cash flow and balance sheet
Operating cash flow for the first nine months of 2025 was US$234.2 million, driven by lower receivables and inventory levels. Long-term debt decreased to US$173 million.
The company declared a quarterly dividend of US$0.30 per share, payable on December 5, 2025, and repurchased 201,514 shares for US$7.2 million during the quarter.
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© Fresh Del MonteFor more information:
Fresh Del Monte Produce Inc
Email: [email protected]
www.investorrelations.freshdelmonte.com
