Del Monte Corp (NYSE:DMC), earlier known as Fresh Del Monte Produce, reported mixed second quarter earnings results.
This is the company’s first earnings after the merger of Fresh Del Monte Produce Inc. and California-based Del Monte Foods Corporation, completed in March 2026
• Del Monte stock is showing upward movement. Why is DMC stock trading higher?
Earnings Snapshot
Del Monte reported adjusted EPS of 72 cents, beating the analyst estimate of 53 cents.
Revenue of $1.219 billion, missing the consensus estimate of $1.305 billion. Revenue rose year-over-year led by the March 2026 acquisition of Del Monte Foods. The gain was partly offset by lower revenue in the fresh and value-added products segment following the divestiture of Mann Packing in the fourth quarter of 2025, as well as weaker banana sales volumes in North America and Asia.
Gross profit rose to $121.3 million from $120.1 million a year ago quarter, supported by higher sales. However, profitability was partially pressured by higher banana production and procurement costs, increased ocean freight and distribution expenses, and adverse foreign exchange impacts, primarily from the Costa Rican colon.
Adjusted operating income declined to $48.7 million from $77.3 million a year ago quarter.
The company’s board of directors declared a quarterly cash dividend of 30 cents per share payable on Sept. 4, 2026, to shareholders of record as of Aug. 12, 2026.
During the quarter, the company repurchased shares worth $16 million. As of June 26, 2026, the company had $100.2 million remaining available under its share repurchase authorization.
Segment Performance
Fresh and Value-Added Products net sales declined to $569.3 million from $649.9 million in the year-ago quarter, mainly due to divestiture of the Mann Packing business, lower avocado prices amid industry oversupply, and weaker deciduous fruit sales caused by reduced production.
Banana segment net sales declined to $361.1 million from $410 million in the prior year, reflecting lower sales volumes in North America due to weak demand, in Asia due to supply constraints, and in the Middle East due to supply disruptions and geopolitical challenges.
Prepared Foods net sales increased to $236.1 million from $72.7 million in the second quarter of 2025, driven by the March 2026 acquisition of Del Monte Foods.
DMC Stock Price Activity: Del Monte shares were up 4.25% at $29.95 at the time of publication on Wednesday.
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