Chiquita Income rises $25 million for Q2
Chiquita has reported a big boost in profits as sales dwindled slightly for the second quarter 2013.
Net income rose from $6 million to $31 million while operating income increased from $18 million to $41 million.
EBITDA was up as well; from $40 million to $58 million. Comparable operating income also grew; from $25 million to $42 million.
"We continue to execute against our 'focus on the core' strategy that, in the second quarter, resulted in strong operating performance," said Ed Lonergan, President and Chief Executive Officer.
Banana sales fell 2.5 percent, to $519 million overall. The company said it was hurt by weak banana sales in Europe, which declined 8.6 percent, to 9.2 million 40-lb boxes. North American banana sales jumped 11.1 percent, to 18.5 million boxes, but the company cut banana prices 2.9 percent in order to help achieve the figure.
