Del Monte Corporation (NYSE: DMC) reported financial results for the third quarter ended September 25, 2026, highlighting growth in sales and profitability following the acquisition of Del Monte Foods. The company reported net sales of $1.10 billion for the quarter, an increase of 7.2% compared to the prior year. Adjusted net sales were up 14.2%. Gross profit rose to $102.6 million, a 27.0% increase, and the gross margin expanded by 150 basis points to 9.4%.
Operating income for the quarter was $29.1 million, with adjusted operating income reported at $35.4 million. Net income attributable to Del Monte Corporation was $18.3 million, resulting in diluted earnings per share of $0.39. Adjusted diluted EPS was $0.50. The company also reported adjusted EBITDA of $60.9 million, an increase of 5.0%.
During the quarter, the company declared a quarterly cash dividend of $0.30 per share, payable on December 4, 2026, to shareholders of record as of November 11, 2026. For the first nine months of 2026, net cash provided by operating activities was $53.1 million. Long-term debt stood at $482.5 million as of September 25, 2026, compared to $173.0 million at the end of 2025, primarily reflecting the financing of the Del Monte Foods acquisition and inventory buildup.
Del Monte operates under four segments: Fresh and Value-Added Products, Bananas, Prepared Foods, and Other Products and Services. Prepared Foods generated net sales of $261.2 million and gross profit of $45.8 million, achieving a gross margin of 17.5%, the highest among the company's segments. Fresh and Value-Added Products reported net sales of $461.3 million and gross profit of $50.5 million. Bananas generated net sales of $313.3 million but reported a gross loss of $2.7 million due to lower volume and higher costs. Other Products and Services had net sales of $59.5 million and gross profit of $9.0 million.
