Del Monte Pacific (D03) Q3 2026 earnings summary

Executive summary

• Achieved strong growth in Q3 and nine months ended January 2026, with sales up 20% in Q3 and 14.2% year-to-date, driven by robust performance in the Philippines and international markets.

• Net profit reached $10 million in Q3 (up from $2.5 million) and $32.3 million year-to-date (up from $5.2 million), reflecting improved sales and margins.

• Deconsolidation of U.S. operations effective 1 May 2025, following Chapter 11 filing, reduced liabilities and shifted focus to core Asian businesses.

• Strategic focus remains on expanding Asian operations, market leadership in the Philippines, and regaining or maintaining international market share, especially in premium pineapples.

• Ongoing capital-raising initiatives and divestment of non-core assets to address negative equity and optimize capital allocation.

Financial highlights

• Q3 sales: $243.8 million, up 20% year-over-year; nine-month revenue: $682.4 million, up 14.2%.

• Gross margin improved to 32.7% in Q3 and 33.2% year-to-date, supported by pricing, sales mix, and commodity trends.

• EBITDA for nine months: $133.5 million, up 22.8%; Q3 EBITDA: $42.8 million (+16.2%).

• Net profit attributable to owners was $10 million in Q3 (up 300.5%) and $32.3 million for nine months (up 526.4%).

• Net debt reduced to $990 million, with net debt/EBITDA improving to 5.9x from 7.5x.

Outlook and guidance

• Profitability expected to be sustained for FY2026, barring unforeseen circumstances and with no material liability from U.S. operations post-deconsolidation.

• Continued focus on equity raise to support financial health, reduce leverage, and address capital deficit.

• Anticipate continued growth in processed and fresh segments, with caution due to potential geopolitical and economic volatility.