$DMC

FRESH DEL MONTE PRODUCE INC

CIK:0001047340|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2026	Jun. 27, 2025	Jun. 26, 2026	Jun. 27, 2025
Income Statement [Abstract]
Net sales	$ 1,219.1	$ 1,182.5	$ 2,263.2	$ 2,280.8
Cost of products sold	1,097.8	1,062.4	2,052.9	2,068.6
Gross profit	121.3	120.1	210.3	212.2
Selling, general and administrative expenses	72.6	51.3	123.7	99.3
(Loss) gain on disposal of property, plant and equipment, net	(0.4)	0.1	1.8	0.9
Asset impairment and other charges, net	14.8	0.6	34.8	0.6
Operating income	33.5	68.3	53.6	113.2
Interest expense	6.6	3.2	8.8	6.7
Interest income	0.2	0.2	0.5	0.4
Income from equity method investments	1.9	7.8	8.5	7.8
Other expense, net	1.4	1.6	7.8	4.4
Income before income taxes	27.6	71.5	46.0	110.3
Income before income taxes	6.1	14.1	13.8	21.0
Net income	21.5	57.4	32.2	89.3
Net income	0.3	0.6	1.0	1.4
Less: Net income attributable to noncontrolling interests	$ 21.2	$ 56.8	$ 31.2	$ 87.9
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Basic (usd per share)	$ 0.45	$ 1.19	$ 0.66	$ 1.83
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Diluted (usd per share)	0.44	1.18	0.65	1.82
Dividends declared per ordinary share (usd per share)	$ 0.30	$ 0.30	$ 0.60	$ 0.60
Dividends declared per ordinary share
Basic (shares)	47,396,810	47,953,982	47,423,341	47,955,160
Diluted (shares)	47,605,384	48,172,414	47,737,419	48,220,517

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2026	Jun. 27, 2025
Operating activities:
Net income	$ 32.2	$ 89.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36.4	36.9
Amortization of debt issuance costs	0.2	0.2
Share-based compensation expense	5.1	4.9
Asset impairments	28.5	0.6
Change in uncertain tax positions	0.6	(0.8)
(Loss) gain on disposal of property, plant and equipment, net	(1.8)	(0.9)
Income from equity method investments	(8.5)	(7.8)
Deferred income taxes	(2.9)	(6.6)
Other, net	(0.2)	(1.3)
Changes in operating assets and liabilities
Receivables	(71.0)	(24.1)
Inventories	26.8	49.7
Prepaid expenses and other current assets	(2.0)	1.9
Accounts payable and accrued expenses	49.3	22.3
Other assets and liabilities	1.3	(5.1)
Net cash provided by operating activities	94.0	159.2
Investing activities:
Capital expenditures	(40.2)	(21.6)
Proceeds from sales of property, plant and equipment	19.6	3.5
Acquisition of select assets of Del Monte Foods, net of cash acquired	(307.7)	0.0
Distributions received from unconsolidated companies	29.6	0.0
Investments in and advances to unconsolidated companies	(7.0)	(7.5)
Other investing activities	0.0	1.2
Net cash used in investing activities	(305.7)	(24.4)
Financing activities:
Proceeds from debt	459.7	269.8
Payments on debt	(218.1)	(312.9)
Distributions to noncontrolling interests	(0.3)	0.0
Share-based awards settled in cash for taxes	(1.8)	(0.9)
Dividends paid	(28.5)	(28.8)
Repurchase and retirement of ordinary shares	(20.1)	(7.6)
Other financing activities	(2.2)	(0.8)
Net cash provided by (used in) financing activities	188.7	(81.2)
Effect of exchange rate changes on cash	(1.6)	(0.7)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(24.6)	52.9
Cash, cash equivalents and restricted cash, beginning	64.2	32.6
Cash, cash equivalents and restricted cash, ending	39.6	85.5
Supplemental cash flow information:
Cash paid for interest	7.4	8.1
Cash paid for income taxes	9.8	5.6
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	0.2	0.0
Non-cash financing and investing activities:
Right-of-use assets obtained in exchange for new operating lease obligations	11.1	25.4
Noncash or Part Noncash Acquisitions [Table]	1.1	0.0
Dividends on restricted stock units	0.6	0.4
Fair value of net assets acquired in non-cash acquisition	$ 0.0	$ 0.8

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 26, 2026	Dec. 26, 2025
Current assets:
Cash and cash equivalents	$ 36.1	$ 35.7
Trade accounts receivable, net of allowance of $38.7 and $38.2, respectively	423.5	376.1
Other accounts receivable, net of allowance of $5.5 and $4.9, respectively	106.4	85.9
Inventories, net	721.4	581.9
Assets held for sale	15.1	9.6
Prepaid expenses and other current assets	46.5	51.6
Total current assets	1,349.0	1,140.8
Investments in and advances to unconsolidated companies	49.0	63.2
Property, plant and equipment, net	1,206.4	1,119.5
Operating lease right-of-use assets	183.9	192.8
Goodwill	389.7	390.0
Intangible assets, net	75.9	33.1
Deferred income taxes	50.0	45.5
Other noncurrent assets	78.5	74.1
Total assets	3,382.4	3,059.0
Current liabilities:
Accounts payable and accrued expenses	530.1	467.3
Current maturities of debt and finance leases	7.0	1.5
Current maturities of operating leases	44.2	45.4
Income taxes and other taxes payable	24.8	15.1
Total current liabilities	606.1	529.3
Long-term Debt and Lease Obligation	426.4	176.2
Retirement benefits	98.9	92.4
Deferred income taxes	80.6	79.1
Operating leases, less current maturities	117.5	125.9
Other noncurrent liabilities	30.8	25.9
Total liabilities	1,360.3	1,028.8
Commitments and Contingencies (See note 9)
Shareholders' equity:
Preferred shares, $0.01 par value; 50,000,000 shares authorized; none issued or outstanding	0.0	0.0
Ordinary shares, $0.01 par value; 200,000,000 shares authorized; 47,146,218 and 47,373,027 issued and outstanding, respectively	0.5	0.5
Paid-in capital	606.3	606.6
Retained earnings	1,435.3	1,447.3
Accumulated other comprehensive loss	(34.7)	(38.2)
Total Del Monte Corporation shareholders' equity	2,007.4	2,016.2
Noncontrolling interests	14.7	14.0
Total shareholders' equity	2,022.1	2,030.2
Total liabilities and shareholders' equity	$ 3,382.4	$ 3,059.0