Stock Track | Fresh Del Monte Produce Plunges 9.78% Pre-Market on Q3 Loss, Divestiture Plans

Stock Track10-29

Shares of Fresh Del Monte Produce Inc. (FDP) plummeted 9.78% in pre-market trading on Wednesday following the release of disappointing third-quarter results and announcement of strategic divestiture plans. The company reported a net loss of $28.1 million for Q3 2025, a stark contrast to analyst expectations.

Fresh Del Monte's revenue for the quarter came in at $1,021.9 million, slightly missing the $1.04 billion forecast by analysts. The company faced significant challenges in its banana segment, with gross profit dropping to just $4.6 million, down from $21.3 million in the same period last year. This decline was attributed to higher per-unit production and procurement costs, increased distribution expenses, and adverse weather conditions in growing regions.

In a strategic move, Fresh Del Monte announced an agreement to divest its Mann Packing business, expected to close in the fourth quarter of 2025. The company is also exiting underperforming banana operations in the Philippines. These decisions are part of a broader strategy to focus on higher-margin, value-added categories and improve long-term profitability. "These strategic moves simplify our operations, sharpen our focus on higher-margin, higher-growth categories, and position us to deliver stronger earnings and sustained value for our shareholders," stated Mohammad Abu-Ghazaleh, Fresh Del Monte's Chairman and CEO.

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