FRESH DEL MONTE PRODUCE INC

For the period ended Oct 29, 2025. Filed Oct 29, 2025.

About this filing

A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Oct 29, 2025 · Filed Oct 29, 2025

DMC$27.39-0.9%Stored close · as of Nov 6, 2026

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Contents

EX-99.1 · Share Repurchase Program

Share Repurchase Program

During the third quarter of 2025, the Company repurchased 201,514 shares of common stock for $7.2 million at an average price of $35.55 per share. As of September 26, 2025, $135.2 million remained available under the current plan.

Fresh Del Monte Produce Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(U.S. dollars in millions, except share and per share data) - (Unaudited)
	Quarter ended		Nine months ended
Statement of Operations:	September 26,2025	September 27,2024	September 26,2025	September 27,2024
Net sales	$1,021.9	$1,019.5	$3,302.8	$3,267.0
Cost of products sold	941.7	925.1	3,010.2	2,977.0
Other product-related (credits) charges	(0.6)	0.6	(0.5)	0.8
Gross profit	80.8	93.8	293.1	289.2
Selling, general and administrative expenses	52.1	47.9	151.5	148.6
Gain on disposal of property, plant and equipment, net	5.0	8.2	5.9	26.6
Asset impairment and other charges, net	55.5	0.2	56.1	1.2
Operating (loss) income	(21.8)	53.9	91.4	166.0
Interest expense, net	1.8	4.2	8.1	14.0
Other (income) expense, net	0.3	(0.1)	(3.1)	5.2
(Loss) income before income taxes	(23.9)	49.8	86.4	146.8
Income tax provision	4.2	7.9	25.2	25.6
Net (loss) income	(28.1)	41.9	61.2	121.2
Less: Net income (loss) attributable to noncontrolling interests	1.0	(0.2)	2.4	(0.6)
Net (loss) income attributable to Fresh Del Monte Produce Inc.	$(29.1)	$42.1	$58.8	$121.8
Earnings (loss) per share(1):
Basic	$(0.61)	$0.88	$1.23	$2.54
Diluted	$(0.61)	$0.88	$1.22	$2.54
Dividends declared per ordinary share	$0.30	$0.25	$0.90	$0.75
Weighted average number of ordinary shares:
Basic	47,917,663	47,936,254	47,942,661	47,855,020
Diluted	47,917,663	48,023,238	48,214,204	47,967,458

(1)Earnings (loss) per share ("EPS") is calculated based on Net (loss) income attributable to Fresh Del Monte Produce Inc.

Fresh Del Monte Produce Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(U.S. dollars in millions) - (Unaudited)
	September 26,2025	December 27,2024
Assets
Current assets:
Cash and cash equivalents	$97.2	$32.6
Trade accounts receivable, net	380.4	393.2
Other accounts receivable, net	60.8	78.0
Inventories, net	569.5	595.3
Assets held for sale	28.0	9.5
Prepaid expenses and other current assets	31.2	24.3
Total current assets	1,167.1	1,132.9
Investments in and advances to unconsolidated companies	61.3	39.9
Property, plant and equipment, net	1,114.6	1,191.6
Operating lease right-of-use assets	179.4	186.1
Goodwill	389.9	396.3
Intangible assets, net	33.2	33.2
Deferred income taxes	45.8	47.5
Other noncurrent assets	74.3	68.7
Total assets	$3,065.6	$3,096.2
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued expenses	$496.4	$476.0
Current maturities of debt and finance leases	1.6	1.5
Current maturities of operating leases	36.6	38.6
Income taxes and other taxes payable	23.1	17.0
Total current liabilities	557.7	533.1
Long-term debt and finance leases	176.7	248.9
Retirement benefits	83.4	83.1
Deferred income taxes	71.3	75.2
Operating leases, less current maturities	120.2	122.3
Other noncurrent liabilities	27.0	26.8
Total liabilities	1,036.3	1,089.4
Commitments and contingencies
Shareholders' equity:
Preferred shares	—	—
Ordinary shares	0.5	0.5
Paid-in capital	608.4	605.0
Retained earnings	1,440.1	1,435.4
Accumulated other comprehensive loss	(34.5)	(50.4)
Total Fresh Del Monte Produce Inc. shareholders' equity	2,014.5	1,990.5
Noncontrolling interests	14.8	16.3
Total shareholders' equity	2,029.3	2,006.8
Total liabilities and shareholders' equity	$3,065.6	$3,096.2

Fresh Del Monte Produce Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(U.S. dollars in millions) - (Unaudited)
	Nine months ended
	September 26,2025	September 27,2024
Operating activities:
Net income	$61.2	$121.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	55.2	59.2
Amortization of debt issuance costs	0.4	0.4
Asset impairments	54.6	0.7
Share-based compensation expense	7.3	4.8
Change in uncertain tax positions	(0.8)	(1.3)
Deferred income taxes	(2.4)	3.4
Gain on disposal of property, plant and equipment, net	(5.9)	(26.6)
Income from equity method investments	(10.9)	(7.3)
Other, net	(2.0)	3.3
Changes in operating assets and liabilities
Receivables	38.6	(0.4)
Inventories	32.0	12.7
Prepaid expenses and other current assets	(5.6)	(6.6)
Accounts payable and accrued expenses	17.6	26.2
Other assets and liabilities	(5.1)	(2.5)
Net cash provided by operating activities	234.2	187.2
Investing activities:
Capital expenditures	(35.7)	(34.1)
Proceeds from sales of property, plant and equipment	11.8	35.6
Insurance proceeds received for damage to property, plant and equipment, net	—	5.7
Investments in and advances to unconsolidated companies	(11.7)	(6.2)
Other investing activities	1.2	—
Net cash (used in) provided by investing activities	(34.4)	1.0
Financing activities:
Proceeds from debt	309.8	315.4
Payments on debt	(380.9)	(445.8)
Distributions to noncontrolling interests	(4.2)	—
Share-based awards settled in cash for taxes	(0.9)	(0.9)
Dividends paid	(43.1)	(35.9)
Repurchase and retirement of ordinary shares	(14.8)	—
Payment of deferred financing costs	—	(2.2)
Other financing activities	(1.2)	(2.7)
Net cash used in financing activities	(135.3)	(172.1)
Effect of exchange rate changes on cash	0.1	0.9
Net increase in cash and cash equivalents	64.6	17.0
Cash and cash equivalents, beginning	32.6	33.8
Cash and cash equivalents, ending	$97.2	$50.8

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