Growth in Key Financial Metrics
Net sales increased by 4% to $1.183 billion compared to $1.14 billion in the prior year. Gross profit rose 6% to $120 million, and gross margin expanded to 10.2% from 9.9% last year.
Pineapple Portfolio Success
Continued strong demand for pineapple products, with an 8x increase in per capita consumption since the 1970s. The launch of Pinkglow in the UAE marks a strategic expansion into new international markets.
Operational Efficiency and Strategic Expansion
Transitioning from legacy shipping vessels to container vessels in the Asia Pacific region to enhance operational efficiency. Plan to expand pineapple production in Brazil, Africa, and the Philippines.
Strong Financial Position
Long-term debt reduced by 29% compared to the prior year. Adjusted EBITDA for the second quarter was $95 million, up from $89 million in the prior year.