Earnings Releases·Oct 28, 2026, 6:02 AM ET

Del Monte Corporation — Third Quarter 2026 Earnings Summary

Net sales reached $1.095 billion (up 7.2% YoY) with adjusted net sales rising 14.2%; gross margin expanded 150 basis points to 9.4% and adjusted diluted EPS was $0.50.
Long-term debt increased to $482.5 million following the March 2026 acquisition of Del Monte Foods, which drove Prepared Foods segment growth to $261.2 million with a 17.5% gross margin.
The Banana segment reported a $2.7 million gross loss due to Black Sigatoka prevention costs and volume declines, while the company closed four Costa Rican farms to optimize efficiency.
Management expressed confidence in the expanded portfolio's long-term value, citing successful integration progress and a focus on operational optimization despite geopolitical shipping disruptions in the Middle East.
The Board declared a quarterly cash dividend of $0.30 per share; the company also completed the divestiture of Mann Packing in Q4 2025 and officially changed its name to Del Monte Corporation in June 2026.