Highlights

  • Third quarter net sales were $1.10 billion, Del Monte net income was $18.3 million and diluted EPS was $0.39.
  • Adjusted EBITDA, a non-GAAP measure, was $60.9 million in the third quarter, and adjusted diluted EPS was $0.50.
  • Long-term debt was $482.5 million at September 25, 2026, compared with $173.0 million at the end of 2025.
  • The board declared a $0.30 quarterly dividend per share, payable December 4, 2026, to shareholders as of November 11, 2026.

Del Monte Corporation (NYSE:DMC) shares were trading at USD 28.93 on October 28, 2026, up 1.03%, with a relative volume at time of 3.68. The fresh and prepared foods company reported third quarter 2026 results on October 28, following its March 2026 acquisition of Del Monte Foods, and its board declared a quarterly dividend on October 27.

Del Monte Corporation is incorporated in the Cayman Islands and lists its U.S. executive office in Coral Gables, Florida. The company describes a transformation into a more diversified food platform. After the acquisition of Del Monte Foods and a first-quarter 2026 segment realignment, it reports four segments: Fresh and Value-Added Products, Bananas, Prepared Foods, and Other Products and Services. Its categories include fresh, refrigerated, shelf-stable and prepared foods, and its ordinary shares trade on the New York Stock Exchange.

Third Quarter Results

Del Monte reported net sales of $1,095.3 million for the third quarter ended September 25, 2026, compared with $1,021.9 million a year earlier. The company said net sales increased 7.2% and adjusted net sales increased 14.2%, with adjusted figures excluding the prior-year Mann Packing contribution.

Gross profit was $102.6 million, compared with $80.8 million, and gross margin was 9.4%, compared with 7.9%. Operating income was $29.1 million, compared with an operating loss of $21.8 million. Net income attributable to Del Monte was $18.3 million, compared with a net loss of $29.1 million, and diluted earnings per share were $0.39, compared with a loss per share of $0.61.

On a non-GAAP basis, adjusted operating income was $35.4 million, adjusted net income attributable to Del Monte was $23.6 million, and adjusted diluted EPS was $0.50. Adjusted EBITDA was $60.9 million, compared with $58.0 million.

Segment Results

Fresh and Value-Added Products had net sales of $461.3 million and gross profit of $50.5 million, compared with $549.0 million and $64.3 million. Bananas had net sales of $313.3 million and a gross loss of $2.7 million, compared with $358.0 million and gross profit of $4.6 million. The company cited lower volume and approximately $6.1 million of incremental production costs in Costa Rica.

Prepared Foods had net sales of $261.2 million and gross profit of $45.8 million, a 17.5% gross margin, compared with $61.5 million and $4.0 million. Other Products and Services had net sales of $59.5 million and gross profit of $9.0 million.

Balance Sheet, Cash Flow and Dividend

Net cash provided by operating activities for the first nine months of 2026 was $53.1 million, compared with $234.2 million in the same period of 2025. Cash and cash equivalents were $21.1 million at September 25, 2026, compared with $35.7 million at December 26, 2025.

Long-term debt was $482.5 million, compared with $173.0 million at the end of 2025, which the company said primarily reflected financing of the Del Monte Foods acquisition and inventory buildup.

The board declared a quarterly cash dividend of $0.30 per share on October 27, 2026, payable December 4, 2026, to shareholders as of November 11, 2026.

Full-Year 2026 Outlook

The press release does not provide numerical guidance. On the call, management said it reiterated its outlook for adjusted net sales growth of 13% to 15% and adjusted EBITDA of approximately $230 million to $240 million. It said it expects Del Monte Foods net sales of approximately $650 million and adjusted EBITDA of approximately $45 million, up from $625 million and $35 million.

Management also said it lowered its full-year banana gross margin expectation to 2% to 3% from 3% to 4%, citing weather-related impacts. It said it expects full-year inflationary pressures of approximately $55 to $65 million, with more than half affecting bananas.