Chiquita Brands Q2 Earnings Drop - Quick Facts

(RTTNews) - Chiquita Brands International, Inc. (CQB) Thursday reported lower earnings for the second quarter, despite an increase in net sales.

The company's net income declined to $18 million or $0.37 per share from $31 million or $0.66 per share a year ago. On average, 2 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

On an adjusted basis, earnings before interest, tax, depreciation and amortization or EBITDA rose to $62 million from $58 million a year ago.

Net sales, however, rose to $826 million from $812 million last year, while analysts estimated revenue of $823.25 million.