Fresh Del Monte Produce Inc. Reports Fourth Quarter and Full-Year 2025 Financial Results
Fresh Del Monte Produce Inc. (NYSE: FDP), a leading global producer, marketer, and distributor of fresh and fresh-cut fruits and vegetables, today announced its financial results for the fourth quarter and full fiscal year ended December 26, 2025. The Company delivered solid performance across key metrics, reflecting disciplined pricing strategies, steady demand in core categories, and a continued focus on operational efficiency and cash flow generation.
For the fourth quarter of 2025, Fresh Del Monte reported earnings per diluted share of $0.67. On an adjusted basis, earnings per diluted share were $0.70. For the full fiscal year 2025, earnings per diluted share were $1.88, while adjusted earnings per diluted share reached $3.68, underscoring the Company’s improved operational execution and financial management throughout the year.
Leadership Commentary
Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer, emphasized that fiscal 2025 was marked by consistent execution and prudent financial stewardship. He noted that the Company benefited from disciplined pricing, sustained demand for its primary product categories, and a sharp focus on strengthening cash flow.
Abu-Ghazaleh highlighted that the Company closed the year with enhanced financial flexibility and reduced debt levels, positioning it well for the future. Continued investments in operations were made to support long-term growth and performance. Looking ahead to 2026, management remains committed to disciplined decision-making and thoughtful capital allocation while evaluating strategic opportunities.
Strategic Portfolio Update: Divestiture of Mann Packing
During the third quarter of 2025, Fresh Del Monte announced its intention to divest its Mann Packing Inc. business operations. The transaction was successfully completed in the fourth quarter of 2025. As a result, the Company has provided adjusted financial results to reflect the impact of this divestiture, enabling clearer comparability of ongoing operations.
The divestiture aligns with Fresh Del Monte’s strategy to streamline its portfolio and concentrate on core product categories and operational priorities.
Fourth Quarter 2025 Financial Highlights
Net Sales
Net sales for the fourth quarter of 2025 totaled $1,019.5 million. The year-over-year increase was primarily driven by higher net sales in the Company’s other products and services segment as well as its banana business segment.
Increased activity in third-party ocean freight services contributed meaningfully to revenue growth. Additionally, higher per-unit banana selling prices supported improved top-line performance. Tariff-related price adjustments in North America also positively impacted revenue, as did favorable currency exchange rate movements, particularly related to the Euro.
These gains were partially offset by lower net sales in the fresh and value-added products segment. The decline in this segment was largely attributable to reduced sales volume in the fresh-cut vegetable product line. This reduction followed strategic operational actions implemented in 2024, including the sale of certain assets of Fresh Leaf Farms.
On an adjusted basis, fourth-quarter net sales were $968.2 million, reflecting the impact of the Mann Packing divestiture.
Gross Profit and Margin
Gross profit for the fourth quarter reached $106.0 million. The improvement was driven by higher gross profit across all business segments, supported primarily by increased per-unit selling prices.
However, the benefits of higher pricing were partially offset by increased per-unit distribution costs and elevated production and procurement costs within the banana segment. Despite these cost pressures, the Company achieved a gross margin of 10.4% for the quarter.
On an adjusted basis, gross profit was $109.2 million, with adjusted gross margin expanding to 11.3%. This improvement demonstrates the effectiveness of pricing discipline and operational management amid a dynamic cost environment.
Operating Income
Operating income for the fourth quarter totaled $46.0 million. The increase compared to the prior year was largely attributable to improved gross profit performance.
This was partially offset by a lower gain on the sale of property, plant, and equipment, net. In the prior year, the Company recorded a gain associated with the sale of its Toronto distribution center, which did not recur in 2025.
Adjusted operating income for the quarter was $47.6 million, reflecting the underlying strength of ongoing operations.
Net Income
For the fourth quarter of 2025, FDP net income was $31.9 million. On an adjusted basis, net income was $33.2 million. These results demonstrate steady profitability supported by improved pricing and operational execution.
Full Fiscal Year 2025 Financial Highlights
Net Sales
For the full fiscal year 2025, net sales totaled $4,322.3 million, representing growth across all of the Company’s business segments.
The increase was primarily driven by higher per-unit selling prices in both the fresh and value-added products segment and the banana segment. Tariff-related price adjustments in North America and favorable exchange rate fluctuations, particularly involving the Euro and British pound, further contributed to revenue growth.
However, overall growth was partially offset by reduced sales volume in the fresh-cut vegetable product line. This decline was associated with strategic operational adjustments made in 2024, including the sale of certain Fresh Leaf Farms assets.
On an adjusted basis, full-year net sales were $4,097.5 million.
Gross Profit and Margin
Full-year gross profit reached $399.1 million. The increase was primarily driven by higher net sales in the fresh and value-added products segment.
Despite revenue gains, profitability was affected by higher per-unit production and procurement costs in the banana segment as well as increased distribution expenses. Nevertheless, gross margin improved to 9.2% for the year.
Adjusted gross profit was $426.8 million, with adjusted gross margin rising to 10.4%. These improvements highlight the Company’s ability to manage pricing and operational efficiency despite cost headwinds.
Operating Income
Operating income for fiscal 2025 was $137.4 million. This represented a decrease compared to the prior year, primarily due to several non-recurring and strategic charges.
The decline was driven by higher asset impairment charges related to low-productivity banana farms in the Philippines, charges associated with the Mann Packing divestiture, and a lower gain on the disposal of property, plant, and equipment compared to the prior year.
These factors were partially offset by stronger gross profit performance across the business.
On an adjusted basis, operating income for the year was $221.9 million, reflecting the Company’s underlying operating strength after excluding significant one-time impacts.
Net Income
For the full fiscal year 2025, FDP net income totaled $90.7 million. Adjusted net income reached $177.7 million, underscoring improved profitability on a normalized basis and reflecting disciplined operational and financial management.
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