Why Agriculture Company Fresh Del Monte's Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Fresh Del Monte Produce, Inc. (NYSE:FDP) reported a Q3 FY23 sales decline of 4.78% YoY to $1.003 billion, missing the consensus of $1.07 billion. The decline was driven by lower sales volume in the fresh and value-added product segment and a decrease in sales in other products and services due to softened global demand. Adjusted EPS of $0.35 missed the analyst consensus of $0.42. The company declared a quarterly cash dividend of $0.20 per share. FDP shares are trading lower by 9.96%.
November 01, 2023 | 1:37 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Fresh Del Monte's Q3 FY23 sales and EPS missed estimates, leading to a drop in share price. The company declared a quarterly cash dividend of $0.20 per share.
Fresh Del Monte's lower than expected Q3 FY23 sales and EPS are likely to negatively impact investor sentiment, leading to a drop in share price. The declaration of a dividend may partially offset this negative impact, but overall, the news is likely to have a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100