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AI brief of an SEC Form 8-K · Del Monte (DMC)

Fresh Del Monte Q1 net income falls to $26.1 million; sales $1,107.9 million

Negative Impact 3 of 5 earnings Written later

Fresh Del Monte Produce Inc. (NYSE: FDP) reported first-quarter 2024 results for the quarter ended March 29, 2024, with net sales of $1,107.9 million, down from $1,128.5 million a year earlier. Net income attributable to the company fell to $26.1 million, or $0.55 per diluted share, from $39.0 million, or $0.81, which matters to shareholders because lower banana sales and margins outweighed growth in fresh and value-added products.

Key points

  • Net sales were $1,107.9 million versus $1,128.5 million; banana net sales fell to $379.5 million from $425.1 million.
  • Fresh and value-added products net sales rose to $676.8 million from $643.4 million, and avocado revenue increased 23% on higher pricing.
  • Banana gross margin fell to 5.7% from 10.2%, and adjusted diluted EPS was $0.34 versus $0.55.
  • The board declared a quarterly cash dividend of $0.25 per share, payable June 7, 2024, to holders of record on May 16, 2024.

The filing

CompanyDel Monte (DMC)
Form8-K, current report
Filed with the SECMay 2, 2024, 4:09 PM ET
Accession number0001047340-24-000121

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.