Del Monte second quarter revenue rises to $1.22 billion
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- Del Monte Corporation reported second-quarter net sales of $1.22 billion, driven by the recent acquisition of Del Monte Foods.
- The company recorded a gross profit of $121.3 million as higher production and procurement costs impacted overall margins.
- The company stated the prepared foods segment offset lower banana sales volumes across its North American and Asian markets.
Del Monte Corporation (NYSE:DMC) reported second-quarter net sales of $1,219.1 million and an earnings per diluted share of $0.44.
The revenue increase was driven by the prepared foods segment following the March 2026 acquisition of Del Monte Foods, offsetting lower banana sales in North America and Asia.
The company recorded a gross profit of $121.3 million, yielding a gross margin of 9.9% as higher production, procurement, and ocean freight costs impacted operations.
Operating income declined to $33.5 million primarily due to higher asset impairment and acquisition-related expenses, while adjusted operating income reached $48.7 million.
Following the announcement, Del Monte's share price was up at $28.73.
The company also reported a net income of $21.2 million, or $34.2 million on an adjusted basis, for the quarter ended June 26, 2026.
Unfavorable foreign currency impacts related to the Costa Rican colon and the late 2025 divestiture of the Mann Packing business further influenced the quarterly financial results.
