Fresh Del Monte Produce
The 10-second takeaway
For the quarter ended Dec. 28 (Q4), Fresh Del Monte Produce missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share grew to zero. GAAP loss per share dropped.
Margins increased across the board.
Fresh Del Monte Produce booked revenue of $776.9 million. The one analyst polled by S&P Capital IQ hoped for a top line of $801.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.00. The three earnings estimates compiled by S&P Capital IQ anticipated $0.07 per share. Non-GAAP EPS dropped to zero from the prior-year quarter's $0.00. GAAP EPS were -$0.01 for Q4 versus -$0.18 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.1%, 140 basis points better than the prior-year quarter. Operating margin was -0.1%, 250 basis points better than the prior-year quarter. Net margin was 0.0%, 130 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $837.9 million. On the bottom line, the average EPS estimate is $0.94.
Next year's average estimate for revenue is $3.36 billion. The average EPS estimate is $2.06.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 181 members out of 225 rating the stock outperform, and 44 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 58 give Fresh Del Monte Produce a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fresh Del Monte Produce is outperform, with an average price target of $28.88.
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