Fresh Del Monte Produce Inc. reported results for the first quarter ended March 27, 2026. Earnings per diluted share were US$0.21, or US$0.63 on an adjusted basis.
Chairman and CEO Mohammad Abu-Ghazaleh said: "Our first-quarter results reflect disciplined execution across a complex operating environment, with the business demonstrating resilience as we continue to strengthen and expand our portfolio. Importantly, the quarter included the initial contribution following the closing of the Del Monte Foods acquisition, expanding our portfolio and strengthening our position across both the perimeter and center of the store. We are encouraged by the initial performance of the Del Monte Foods business in its first week of ownership and remain focused on building on this momentum as we continue to scale the business and strengthen our overall platform."
© Fresh Del Monte
Following the acquisition of Del Monte Foods in March 2026, the company restructured its reporting segments, establishing prepared foods as a separate segment. This includes packaged vegetables, tomato products, meals and snacks, pineapple concentrate, beverages, juices, and prepared fruit products in Europe, the Middle East, and Africa. Other segments include fresh and value-added products, bananas, and other products and services.
Net sales for the first quarter were US$1,044.1 million, down 4.9 per cent. The decrease was linked to the divestiture of Mann Packing in the fourth quarter of 2025 and lower avocado sales due to oversupply and reduced prices. This was partly offset by the Del Monte Foods acquisition and exchange rate movements.
Gross profit was US$89.0 million, with lower returns in other products and services, including poultry and meats, due to weaker demand. Prepared foods margins were affected by higher production and procurement costs. Supply chain disruptions in the Strait of Hormuz and currency movements also impacted results. Gross margin was 8.5 per cent, or 8.7 per cent on an adjusted basis.
Operating income was US$20.1 million, affected by higher impairment and related charges. Adjusted operating income reached US$40.2 million. Income from equity method investments was US$6.6 million, reflecting higher earnings from unconsolidated companies.
Net income was US$10.0 million, with adjusted net income at US$29.9 million.
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© Fresh Del MonteFor more information:
Christine Cannella
Fresh Del Monte Produce
Email: [email protected]
www.investorrelations.freshdelmonte.com
