CORAL GABLES, FL - Fresh Del Monte Produce Inc. reported financial results for the second quarter ended June 27, 2025.
“Fresh Del Monte’s second quarter 2025 results reflect the strength of a strategy rooted in consistency, discipline, and long-term vision. Sales growth was fueled by continued demand for our core products, including our proprietary pineapple varieties, and strong momentum across our fresh-cut business—an area where we’re seeing encouraging progress and expanding margins,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and CEO, in a press release. “Our global leadership in proprietary pineapple varieties is the result of decades of innovation and investment—a commitment that now drives our momentum across the fresh and value-added products segment and beyond. These results affirm the power of focus and execution, as well as the long-term advantage created by differentiated offerings. We remain committed to building on this foundation and creating sustained value for our shareholders.”
Financial highlights for the second quarter 2025:
Net sales for the second quarter of 2025 were $1,182.5 million compared with $1,139.7 million in the prior-year period. The increase in net sales was primarily driven by higher net sales in the Company's fresh and value-added products and banana segments due to higher per unit selling prices and the favorable impact of fluctuations in exchange rates, primarily related to the Euro, Japanese yen and British pound. The increase in net sales also reflects tariff-related price adjustments in North America.
Gross profit for the second quarter of 2025 was $120.1 million compared with $113.2 million in the prior-year period. The increase in gross profit for the quarter was primarily driven by higher net sales in the Company's fresh and value-added products segment, partially offset by higher per unit production and procurement costs, as well as higher distribution costs, including the impact of tariff-related charges in North America. Gross margin for the second quarter of 2025 increased to 10.2% compared with 9.9% in the prior-year period.
Adjusted gross profit(1) for the second quarter of 2025 was $120.1 million compared with $114.4 million in the prior-year period. Adjusted gross profit for the second quarter of 2024 included $1.2 million of other product-related charges, primarily related to shipment disruptions in the Red Sea and clean-up costs associated with the flooding of a seasonal production facility in Greece during 2023. No other product-related charges were recorded during the second quarter of 2025.
Operating income for the second quarter of 2025 was $68.3 million compared with $68.2 million in the prior-year period. The increase in operating income was primarily driven by higher gross profit, partially offset by a lower gain on disposal of property, plant and equipment, net, in the current year period.
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Fresh Del Monte
Fresh Del Monte is one of the world's leading vertically integrated producers, marketers and distributors of high-…
