Del Monte reported higher third-quarter sales and a larger increase in gross profit, with results reflecting the contribution of Del Monte Foods, acquired six months earlier. The company said the acquisition has expanded its prepared-foods business and broadened its mix across fresh, refrigerated, shelf-stable and prepared foods.
Growth came despite foreign-exchange, weather and cost pressures in parts of Del Monte’s fresh and agricultural operations. The company also provided adjusted comparisons that account for the prior-year contribution of Mann Packing, whose business operations it sold in the fourth quarter of 2025.
Quarterly results
- Net sales were $1.10 billion, up 7.2% from the prior-year quarter. Adjusted net sales increased 14.2%.
- Gross profit rose 27.0% to $102.6 million. Gross margin increased 150 basis points to 9.4%.
- Operating income was $29.1 million; adjusted operating income was $35.4 million.
- Net income attributable to Del Monte Corporation was $18.3 million, or $0.39 per diluted share. Adjusted net income was $23.6 million, or $0.50 per diluted share.
- Del Monte said certain adjusted comparisons exclude Mann Packing’s contribution in the prior-year period, to better reflect ongoing operations. The release does not provide further detail here on the adjustments behind each adjusted measure.
What changed
- The Del Monte Foods acquisition has increased the scale of the prepared-foods business and widened the company’s product mix. Del Monte attributed the quarter’s gross-profit growth and margin expansion in part to that contribution and to a more diversified earnings mix.
- The reported and adjusted sales growth rates differ substantially. The adjusted figure is intended to aid comparison after the Mann Packing divestiture; it is not the same measure as reported net sales growth.
- Del Monte described continued pressures in parts of its fresh business, including currency movements, weather-related effects and costs. Even with those pressures, gross profit and margin improved year over year.