Dive Brief:

• Fresh Del Monte, a global marketer of fresh produce, said earnings fell 73% in the most recent quarter.
• The company put the blame on rising costs for fruit and expenses related to flooding in Costa Rica.
• The company reported net income of $6.4 million, down from $23.5 million a year earlier.

Dive Insight:

At first glance the latest earnings from Fresh Del Monte look abysmal. But there are numerous bright points. Chief among these was a 9.2 percent rise in sales, driven primarily by bananas. Note: Fresh Del Monte is not to be confused with Del Monte Foods or Del Monte Pacific.