Del Monte Pacific Limited (DMPL), the canned fruit maker and producer, reported a sharp improvement in profitability in the second quarter of fiscal year 2026, which ended in October, as the company continued to implement strategic initiatives to strengthen its capital base and support growth plans.
Net income for the quarter rose seven-fold to $16.8 million from $2.3 million. Sales expanded by 10 percent to $234.9 million, driven by both the domestic Philippines and international businesses, particularly fresh pineapple exports.
Second-quarter sales in the Philippines rose 9 percent to $121.7 million on higher volume and better pricing. DMPL said strong demand for packaged pineapple and the expanded year-round use of mixed fruits led the Philippine growth.
International sales in the second quarter grew by 7 percent to $90.6 million with increased volume of fresh pineapple, juice, and frozen pineapple. The fresh fruit business led the growth with a 23 percent expansion.
The juice segment grew by 49 percent, primarily due to higher sales in China and Europe, while frozen pineapple sales rose 21 percent from a favorable product mix and strong pricing.
For the first half of fiscal year 2026, DMPL’s net income jumped to $22.3 million from $2.7 million in the same period last year, a result of higher sales and strong margin expansion.
First-half sales increased by 11 percent to $438.6 million, backed by a 16 percent increase in fresh pineapple sales and 10 percent growth in the Philippines.
Gross margin improved by 580 basis points to 33.4 percent from 27.6 percent in the first half, driven mainly by better pricing across all segments, as well as lower production cost from higher pineapple recovery.
DMPL’s U.S. subsidiary, Del Monte Foods Holdings Ltd. Inc. (DMHFL), filed for bankruptcy in the U.S. in July. As a result, DMHFL and its subsidiaries, including Del Monte Foods Corporation II, Inc., were classified as discontinued operations as of April 30, 2025.
