NYSE$FDP
Fresh Del Monte Produce Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported financial results for the third quarter of 2020.
Fresh Del Monte Produce reported net sales of $989.7 million and net income of $17.4 million for the third quarter of 2020. The company announced a $100 million asset sales program and increased the quarterly cash dividend to $0.10 per share.
- Improved cash flow through rapid adjustments to business operations.
- Reduced long-term debt by $76.0 million since the end of 2019.
- Saw improvement in the fresh and value-added products business segment.
- Announced optimization program to sell non-strategic assets for approximately $100 million.
Headline financials
Revenue & EPS history
Fresh Del Monte · Revenue · Quarterly
$990M
Revenue by segment
Fresh Del Monte · $990M total across 3 segments · Q3 2020
- Fresh & Value-Added$601M-8.0%60.7%
- Banana$362M-6.2%36.6%
- Other Products & Services$27.3M-13.3%2.8%
Forward guidance
The company intends to sell certain identified assets over the next 12 to 18 months and anticipates cash proceeds of such sales. They also intend to optimize its current cost structure, improve its profitability, and prioritize its capital investments and anticipates dividend payment.
Tailwinds
- Intention to sell certain identified assets
- Anticipated cash proceeds from sales
- Intention to optimize cost structure
- Intention to improve profitability
- Intention to prioritize capital investments
Headwinds
- Impact of the COVID-19 outbreak on business
- Disruptions or inefficiencies in operations or supply chain
- Impact of governmental trade restrictions
- Anticipated cash needs in light of liquidity
- Impact of pricing and other actions by competitors
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-1.5%
Avg return
Earnings day
-1.6%
Avg return
5 days after
-2.8%
Avg return
30 days after
34%
23 / 67 earnings
Positive
+19.8%
Q1 2021
Best reaction
-21.3%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | -8.5% | -27.0% | |
| Q4 2025 | +4.5% | +3.4% | -1.2% | |
| Q3 2025 | -0.2% | +4.6% | +5.2% | |
| Q1 2025 | -0.9% | -1.8% | -2.7% | |
| Q4 2024 | -3.0% | -1.3% | -4.2% | |
| Q3 2024 | +8.8% | +14.5% | +16.0% | |
| Q2 2024 | +8.9% | +7.2% | +16.7% | |
| Q1 2024 | -5.4% | -6.1% | -9.9% | |
| Q4 2023 | -2.7% | +1.9% | +8.8% | |
| Q3 2023 | -9.0% | -6.0% | -7.1% | |
| Q2 2023 | +4.6% | +7.7% | +0.1% | |
| Q1 2023 | -7.2% | -3.8% | -6.1% | |
| Q4 2022 | +7.7% | +8.5% | +4.1% | |
| Q3 2022 | +2.5% | +7.1% | +4.7% | |
| Q2 2022 | -4.0% | -5.8% | -10.3% | |
| Q1 2022 | -5.5% | -3.6% | -2.2% | |
| Q4 2021 | -9.9% | -8.1% | -5.8% | |
| Q3 2021 | -14.6% | -13.7% | -27.5% | |
| Q2 2021 | -1.5% | +1.3% | +3.6% | |
| Q1 2021 | +19.8% | +17.7% | +21.4% | |
| Q4 2020 | -7.7% | -5.1% | +5.4% | |
| Q3 2020 | -8.8% | -9.9% | +4.0% | |
| Q2 2020 | -1.3% | -1.9% | +0.3% | |
| Q1 2020 | -18.8% | -28.0% | -29.1% | |
| Q4 2019 | -10.7% | -14.7% | +0.9% | |
| Q3 2019 | +10.8% | +12.6% | +14.6% | |
| Q2 2019 | +11.3% | +7.6% | -6.0% | |
| Q1 2019 | +3.5% | -0.1% | -11.5% | |
| Q4 2018 | -21.3% | -20.9% | -22.9% | |
| Q3 2018 | +3.0% | +2.5% | +3.4% | |
| Q2 2018 | -8.4% | -7.4% | -7.8% | |
| Q1 2018 | +0.5% | -1.2% | -8.6% | |
| Q4 2017 | -0.5% | +2.2% | -3.5% | |
| Q3 2017 | -9.8% | -4.7% | -0.2% | |
| Q2 2017 | -3.3% | -2.9% | -8.7% | |
| Q1 2017 | -14.0% | -11.5% | -16.1% | |
| Q4 2016 | -3.3% | -1.2% | -0.4% | |
| Q3 2016 | +7.0% | +0.7% | -3.9% | |
| Q2 2016 | +6.2% | +7.1% | +3.6% | |
| Q1 2016 | +8.5% | — | — | |
| Q4 2015 | -3.7% | — | — | |
| Q3 2015 | +6.6% | — | — | |
| Q2 2015 | +8.6% | — | — | |
| Q1 2015 | -7.6% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2014 | +1.7% | — | — | |
| Q1 2014 | +8.8% | — | — | |
| Q4 2013 | -4.6% | — | — | |
| Q3 2013 | -3.1% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | -9.7% | — | — | |
| Q4 2012 | -2.9% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | -10.1% | — | — | |
| Q4 2008 | -10.1% | — | — | |
| Q3 2011 | -3.1% | — | — | |
| Q2 2011 | -3.9% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | -5.0% | — | — | |
| Q3 2009 | +0.0% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q1 2010 | -0.1% | — | — | |
| Q2 2009 | -0.1% | — | — |
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