Fresh Del Monte beats by $0.73, misses on revs
- Reports Q1 (Mar) earnings of $1.57 per share, excluding non-recurring items, $0.73 better than the two analyst estimate of $0.84; revenues rose 1.0% year/year to $1.02 bln vs the $1.05 bln two analyst estimate.
Bananas:
- Net sales for Q1 of 2016 increased $4.3 mln to $458.6 mln, compared with $454.3 mln in the first quarter of 2015, primarily driven by higher sales volume in the Company's Asia and Middle East regions. Worldwide pricing decreased $0.08, or 1%, to $14.81 per unit, compared with $14.89 per unit in Q1 of 2015. Volume was 2% higher than the prior year period
Other Fresh Produce:
- Net sales for Q1 of 2016 increased $16.3 mln to $480.9 mln, compared with $464.6 mln in Q1 of 2015. The increase in net sales was primarily due to higher sales volume in the co's fresh-cut, avocado and pineapple product lines
Prepared:
- Food Net sales for the first quarter of 2016 decreased $10.9 mln to $78.6 mln, compared with $89.5 mln in Q1 of 2015. The decrease in net sales was primarily the result of lower sales volume and lower selling prices in the co's Jordanian poultry business and lower sales volume in the co's canned pineapple product line.