Fresh Del Monte Produce Inc. (NYSE:FDP) 2Q18 Earnings Miss Estimates

Fresh Del Monte Produce Inc. (NYSE:FDP) reported net loss for the second quarter of $ 5.6 million or $ 0.16 per share, compared to income of $ 69.80 million or $ 1.36 per share for the year-ago quarter.

The company reported second quarter Non-GAAP net income of $ 0.14 per share.

The topline results for the second quarter rose 11% to $ 1.27 billion from $ 1.15 billion in the same quarter last year.

The consensus estimates from Thomson Reuters are income of $ 1.27 per share from $ 1.28 billion in revenue.

Abu-Ghazaleh, Chairman and CEO, said, Uncontrollable factors led by congestion, delays and inclement weather at our loading ports in Central America, substantially lower banana selling prices in Europe, an oversupply of pineapples in North America, continued tightening of the transportation market, and higher commodity costs adversely affected our overall performance.

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