Fresh Del Monte misses by $0.31, beats on revs, co cites an industry-wide oversupply of bananas
Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items, $0.31 worse than the Capital IQ Consensus Estimate of $0.40; revenues rose 9.2% year/year to $861.1 mln vs the $800.6 mln consensus (two estimates). Co says it was impacted by an industry-wide oversupply of bananas, increases in logistic and fruit costs, as well as unfavorable year-over-year exchange rates.