Pineapple Program Success
The pineapple program continues to perform well with strong demand outstripping supply. The company is confident in maintaining strong margins in this segment.
Fresh and Value-Added Products Segment Growth
Adjusted gross margin for the fresh and value-added products segment reached an impressive 13.9%, indicative of strong performance and strategic shift towards higher-margin categories.
Strategic Divestiture of Mann Packing
The company entered an agreement to divest Mann Packing, expected to strengthen overall margin profile and enhance capital efficiency.
Positive Cash Flow and Debt Management
Net cash provided by operating activities was $234 million, with long-term debt standing at $173 million and an adjusted leverage ratio well below 1x EBITDA.