Fresh Del Monte Produce Inc. has released its financial results for the first quarter ended March 28, 2025. The report shows a slight decrease in net sales from $1,098.4 million compared with $1,107.9 million in the same period last year, and an increase in gross profit to $92.2 million compared with $82.3 million last year. 

The decrease was driven by lower banana net sales, which were $363.8 million compared with $379.5 million in the prior-year period.

According to the company, this decrease was driven by lower sales volume and per unit selling prices in Asia, lower sales volume in North America, and fluctuations in exchange rates due to a weaker Euro and Korean won. 

The decrease was offset by higher per selling unit prices in North America.

Banana gross profit for the first quarter also suffered a hit, decreasing to $16.8 million compared with $21.8 million in the prior-year period.

The increase in overall gross profit, on the other hand, was driven by higher fresh and value-added products net sales, which increased to $683.2 million compared with $676.8 million in the prior year. 

Behind the uptick were higher sales volume and per unit selling prices in its fresh-cut fruit product line in North America due to strong market demand.

Adjusted gross profit also increased, and so did operating income and adjusted operating income.