Del Monte Corporation

Good day, everyone, and welcome to Fresh Del Monte Produces' fourth quarter and full fiscal year 2025 conference call. Today's conference call is being broadcast live over the internet and is also being recorded for playback purposes. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed with the number one on your telephone keypad. If you would like to withdraw your question, press star one again. For opening remarks and introductions, I would like to turn today's call over to the Vice President, Investor Relations with Fresh Del Monte Produce, Ms. Christine Cannella. Please go ahead, Ms. Cannella.

Thank you, Kate. Good morning, everyone. And thank you for joining our fourth quarter and full fiscal year. 2025 conference call. Joining me in today's discussion are Mr. Muhammad Abugazali, Chairman and Chief Executive Officer, and Ms. Monica Vicente, Senior Vice President and Chief Financial Officer. I hope that you had a chance to review the press release that was issued earlier by a business wire. You may also visit the company's IR website at investorrelations.freshdelmonte.com to access today's earnings materials and to register for future distributions. This conference call is being webcast live on our website and will be available for replay after this call. Please note that our press release and our call today include non-GAAP measures. Reconciliation of these non-GAAP financial measures are set forth in the press release and earnings presentation. which is available on our website. I would like to remind you that much of the information we will be speaking to today, including the answers we give in response to your questions, may include forward-looking statements within the safe harbor provisions of the federal securities laws. In today's press release and in our SEC filings, we detail risks that may cause our future results to differ materially from these forward-looking statements. Our statements are as of today, February 18th, 2026, and we have no obligation to update any forward-looking statements we may make. During the call, we will provide a business outlook along with an overview of our financial results, followed by a question and answer session. With that, I will now turn today's call over to Mr. Mohamed Abou-Ghazali. Please go ahead.

Thank you, Christine. Good morning, everyone, and thank you for joining us. Fiscal 2025 marked a clear inflection point for Fresh Del Monte. It was not just a year of performance. It was a year of preparation. Our results this quarter underscores a fundamental shift in our approach for the past two years. we have moved from a broad market strategy to a relentless focus on our core strengths. By streamlining our portfolio and divesting from non-core distractions, we have ensured that our best performing categories receive the capital and focus they deserve. This strategic narrowing is supported by a culture of rigorous financial discipline and accountability. Rather than pursuing scale indiscriminately, we have prioritized operation efficiency and high return investments. Together, those choices strengthened our balance sheet, expanded margins, and generated the cash flow needed to preserve flexibility and reinvest for long-term leadership. Those choices were deliberate. They were about focus, they were about discipline, and they were about ensuring that when the right moment arrived, we were ready to act from a position of strength. That moment is now. As many of you have been following, we are in a process of acquiring select assets from California-based Termonti Foods through a court-supervised bankruptcy process. Earlier this month, the U.S. Bankruptcy Court approved Fresh Del Monte as the purchaser of global Del Monte brand, along with select core assets. With that approval, we moved meaningfully closer to closing. We expect the transaction to close before the end of the first quarter. subject to customer regulatory approvals, including HSR antitrust clearance and remaining closing conditions. This decision is not about expansion or for expansion's sake. It's about alignment. For nearly 40 years, the Del Monte brand has existed across separate platforms. Today, we have the opportunity to reunify the brand under a company with a deep agriculture roots, global operating scale, and decades of experience managing complex food systems across geographies and categories. There is a strong sense internally that this feels like a reunion. For me, this moment is deeply personal. Bringing Del Monte back together has been a long-held conviction of mine, and it is coming to fruition on the 30th anniversary of when I acquired Fresh Del Monte in 1996. I truly believe that uniting the fresh and staple food under a single strategy honors the Del Monte legacy while positioning the brand for continued relevance and growth. It allows us to show up more consistently for consumers and to build a stronger, more flexible platform focused on efficiency, innovation, and long-term value creation. Belmonte is 140 years old brand and one of the most recognized names in food worldwide, built on trust, quality, and longevity. These are established businesses with experienced teams, strong customer relationships, and products that consumers know well. Our first priority is continuity. As we move through the remaining regulatory reviews and closing conditions, our focus is on stability for customers, retailers, partners, and employees. Post-closing, the acquired business will function as a dedicated unit, ensuring immediate operational continuity while we take a measured approach to integrating capabilities. By utilizing a light touch integration strategy, the food division will retain its autonomy to preserve its agility and customer focus. We will serve as a growth accelerator Empowering the unit with our capital resources, supply, share, scale and logistic infrastructure. Our food divisions teams, both commercial and production across Latin America, Europe, Africa and the Middle East will work hand in hand with our food division in North America to expand and leverage on the capabilities of each other. Sashdarmonte has spent decades operating at global scale across fresh and value-added categories. This experience gives us confidence, not just in completing this transaction, but in managing what comes next. We see a clear opportunity to build more unified platforms that support durable, long-term value creation. As we look ahead to 2026, our priorities remain clear, disciplined decision-making, thoughtful capital allocation, and execution anchored on our core strengths. With that, I will turn over to Monica to discuss our financial results.