Quarterly ResultMay 5, 2026, 06:13 AM
Fresh Del Monte Q1 EPS $0.21; Net Sales $1.04B; Del Monte Foods Acquired
AI Summary
Fresh Del Monte Produce Inc. reported Q1 2026 diluted EPS of $0.21 and net sales of $1,044.1 million. The quarter included the initial contribution from the Del Monte Foods acquisition, which closed in March 2026, and led to a realignment of operating segments. Despite a 4.9% decrease in net sales primarily due to the Mann Packing divestiture and avocado oversupply, the company highlighted portfolio discipline and strategic investments.
Key Highlights
- Reported diluted EPS was $0.21, with Adjusted diluted EPS at $0.63 for Q1 2026.
- Net sales for Q1 2026 decreased 4.9% to $1,044.1 million from $1,098.4 million in Q1 2025.
- Gross profit for Q1 2026 was $89.0 million, down from $92.2 million in the prior year.
- Operating income for Q1 2026 was $20.1 million, a decrease from $44.9 million in Q1 2025.
- Net cash provided by operating activities was $44.1 million, down from $46.1 million in Q1 2025.
- Long-term debt increased to $438.0 million from $173.0 million, primarily due to the Del Monte Foods acquisition.
- The Board declared a quarterly cash dividend of $0.30 per share, payable on June 11, 2026.
- The company repurchased 100,000 shares for $4.0 million during the first quarter.