Del Monte 9-mo profit surges 526.4% to $32.3M

Canned fruit maker Del Monte Pacific Ltd. (DMPL) posted a sharp rise in earnings for the first nine months of its fiscal year 2026, buoyed by stronger sales and improved margins across its key markets.

In a disclosure on Wednesday, the company said net profit from May 1, 2025 to Jan. 31, 2026 surged 526.4 percent to $32.3 million, from $5.2 million in the same period a year earlier.

Turnover climbed 14.2 percent to $682.4 million, compared with $597.5 million previously, driven by higher sales in international markets and the Philippines.

Gross profit rose 35.5 percent to $226.3 million, while the company’s gross margin improved to 33.2 percent from 27.9 percent a year ago.

DMPL attributed the improved margins to higher volumes, better pricing, improved product mix and lower costs, including improved pineapple recovery and softer commodity prices.

Meanwhile, earnings before interest, taxes, depreciation and amortization grew 22.8 percent to $133.5 million from $108.8 million previously, reflecting stronger revenues and profitability.

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The company said the results reflect its continuing operations, following the earlier deconsolidation of its US business effective May 1, 2025. The move provides what DMPL described as a clearer baseline for the group’s future performance.

Despite the stronger earnings, cash flow from operations declined 7.3 percent to $220.8 million from $238.2 million previously. DMPL said this was mainly due to higher inventories to support sales growth and increased receivables from stronger international sales.