Yahoo Finance What To Expect From Fresh Del Monte Produce's (FDP) Q2 Earnings
Fresh produce company Fresh Del Monte (NYSE:FDP) will be reporting results tomorrow afternoon. Here's what you need to know.
Fresh Del Monte Produce missed analysts' revenue expectations by 3.8% last quarter, reporting revenues of $1.11 billion, down 1.8% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Fresh Del Monte Produce a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Fresh Del Monte Produce's revenue to be flat year on year at $1.18 billion, improving from the 2.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.60 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fresh Del Monte Produce has missed Wall Street's revenue estimates four times over the last two years.
Looking at Fresh Del Monte Produce's peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cal-Maine's revenues decreased 7% year on year, missing analysts' expectations by 1.8%, and Boston Beer reported a revenue decline of 4%, falling short of estimates by 3.1%. Cal-Maine traded up 3.1% following the results while Boston Beer was also up 7.4%.
Read our full analysis of Cal-Maine's results here and Boston Beer's results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 3.4% on average over the last month. Fresh Del Monte Produce is up 11.8% during the same time and is heading into earnings with an average analyst price target of $30.5 (compared to the current share price of $24.72).
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