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Del Monte Reports Large 4Q Losses

For the year, the company reported a loss of $21.9 million.

Del Monte

(AP)  Fresh Del Monte Produce, Inc. recently reported a loss of $34 million in its fourth quarter. The Coral Gables, Florida-based company said it had a loss of 70 cents per share. Losses, adjusted for one-time gains and costs, were 43 cents per share. 

The food producer posted revenue of $1.05 billion in the period. For the year, the company reported a loss of $21.9 million, or 45 cents per share, swinging to a loss in the period. Revenue was reported as $4.49 billion. The losses are primarily attributed to the rising costs of fresh produce, as well as some increasing import costs.

Del Monte shares have risen 25 percent since the beginning of the year. The stock has fallen 24 percent in the last 12 months.

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