Del Monte Pacific (D03) Q3 2025 earnings summary

Executive summary

• Q3 turnover rose 2.5% to US$663.0m; 9M turnover increased 3.5% to US$1.89bn, supported by pineapple exports and packaged products.

• Q3 net loss widened to US$35.9m from US$29.0m; 9M net loss reached US$92.2m versus US$50.6m, largely reflecting DMFC costs and interest expense.

• DMPI net profit rose 83% to US$21.4m, while DMFC recorded a US$40.5m Q3 net loss.

Financial highlights

• Q3 gross profit was US$115.9m, down 0.6%, and gross margin fell to 17.5% from 18.0%; 9M gross profit declined 5.4% to US$340.9m.

• Q3 EBITDA rose 3.3% to US$41.9m; 9M EBITDA fell 13.3% to US$134.9m.

• Nine-month operating cash flow increased 128.5% to US$260.9m; free cash flow was US$145m versus a US$90m outflow in the prior year.

• External debt fell US$104m, comprising US$42m from U.S. operations and US$62m from the base business.

• Capital expenditure for 9M was US$121.2m, down 18.3% year-over-year.

Outlook and guidance

• FY2025 is expected to end with a net loss, with gradual improvement projected in FY2026 and FY2027 as strategic initiatives take effect.

• Priorities include U.S. manufacturing consolidation, further inventory reduction, and cost reductions across SG&A, warehousing, and operations.

• Further surplus inventory reductions are planned after DMFC cut inventory by US$291m, or 25% year-over-year, by Q3 end.

• The asset-light model and margin improvements are expected to have their full impact in FY2027.