Fresh Del Monte Produce drops on weak Q1 revenue

Del Monte

03/05/2023 16:58

** Shares of fruits and vegetables producer Fresh Del Monte Produce Inc  FDP.N  fall as much
as 7% to over four-month low of $26.46
    ** Co's Q1 revenue drops ~1% to $1.13 bln, from $1.14 bln a year ago, driven by lower
selling prices of avocados
    ** Also posts Q1 adjusted EPS of 55 cents, little changed from a year ago
    ** Shares last down 5.8% at $26.93
    ** Stock had risen 2.4% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))