Chiquita Brands International Inc. Second Quarter Earnings Sneak Peek

Chiquita Brands International Inc. (NASDAQ:CQB) will unveil its latest earnings on Monday, July 25, 2011. Chiquita Brands International and its subsidiaries operate as an international marketer and distributor of bananas and other fresh produce sold under the Chiquita and other brand.

Chiquita Brands International Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.14 per share, a decline of 18.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.60. Between one and three months ago, the average estimate moved down and dropped from $1.39 during the last month. For the year, analysts are projecting profit of $1.67 per share, a rise of more than twofold from last year.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported net income of 57 cents per share versus a mean estimate of profit of 39 cents per share. In the fourth quarter of the last fiscal year, the company missed estimates by 37 cents.

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Wall St. Revenue Expectations: On average, analysts predict $882.5 million in revenue this quarter, a decline of 3.7% from the year ago quarter. Analysts are forecasting total revenue of $3.22 billion for the year, a decline of 0.3% from last year’s revenue of $3.23 billion.

Analyst Ratings: Analysts are bullish on this stock with four analysts rating it as a buy, none rating it as a sell and none rating it as a hold.

Key Stats:

A year-over-year revenue increase in the first quarter snaps a streak of three consecutive quarters of revenue declines. Revenue rose 2% in the first quarter and fell 11.5% in the fourth quarter of the last fiscal year, 8.9% in the third quarter of the last fiscal year and 4% in the second quarter of the last fiscal year.

Chiquita Brands International’s profit in the latest quarter follows losses in the previous two quarters. The company reported a profit of $24.2 million in the first quarter, a loss of $19.7 million in the fourth quarter of the last fiscal year and a loss of $8.4 million in the third quarter of the last fiscal year.

Competitors to Watch: Fresh Del Monte Produce Inc. (NYSE:FDP), Dole Food Company, Inc. (NYSE:DOLE), Total Produce plc (NYSE:TOT), Alico (NASDAQ:ALCO), Limoneira (NASDAQ:LMNR), Inventure Foods (NASDAQ:SNAK), ConAgra (NYSE:CAG), Seneca Foods (NASDAQ:SENEB) and TreeHouse (NYSE:THS).

Stock Price Performance: During April 21, 2011 to July 19, 2011, the stock price had fallen $2.73 (-18.2%) from $15.02 to $12.29. The stock price saw one of its best stretches over the last year between November 30, 2010 and December 9, 2010 when shares rose for eight-straight days, rising 22.5% (+$2.51) over that span. It saw one of its worst periods between May 31, 2011 and June 8, 2011 when shares fell for seven-straight days, falling 13% (-$1.94) over that span. Shares are down $1.73 (-12.3%) year to date.

(Source: Xignite Financials)

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