Fresh Del Monte Produce Misses on Both Revenue and Earnings

Seth Jayson, The Motley Fool
Updated

Fresh Del Monte Produce (NYS: FDP) filed its 10-K on Feb. 19. Here are the numbers you need to know.

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.

Revenue details
 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 details
 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.

Margin details
 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.

Looking ahead
 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.

Investor sentiment
 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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The article Fresh Del Monte Produce Misses on Both Revenue and Earnings originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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