Del Monte posts Q2 2026 steady results driven by Foods Division growth and fresh segment pressures

Del Monte Corporation, formerly known as Fresh Del Monte Produce Inc., reported its financial results for the second quarter of 2026. The firm is showing steady growth following a challenging first quarter, during which the company was grappling with the divestment of Mann Packing, which took place at the end of 2025.

For Q2 (ended June 26), the company generated $1.2 billion in net sales and posted gross profits of $121 million. Both figures are up compared to the previous quarter (20 percent and 36 percent, respectively), but have remained stable when compared with the same period in 2025, when the company posted $1.2 billion and $120 million, respectively. 

Reflecting the rebound from the sale of Del Monte’s packing house, operating income reached $33.5 million in Q2 2026, improving the previous quarter’s $20 million. However, unlike sales and profits, income fell sharply year-on-year, down 51 percent. 

Regardless of the latter, the company is focused on the positive overall results of its operations and is putting its aim in the future of the newly renamed Del Monte Corporation.

"Our new corporate name reflects far more than a rebrand," said Mohammad Abu-Ghazaleh, Del Monte Corporation Chairman and Chief Executive Officer. “It represents the company we are building: one that is building on its leadership in fresh produce to create value across fresh, refrigerated, shelf-stable, and prepared foods, while unlocking greater value from our agricultural platform.”

Higher expenses impacted Del Monte’s operating income

According to the report published by the company on July 29, revenue growth in Q2 was largely fueled by the acquisition of Del Monte Foods in March 2026, which significantly expanded the company's prepared foods portfolio.

While net sales and gross profit expanded relative to both the prior quarter and prior year, net operating profitability was squeezed compared to 2025. 

Del Monte cited higher selling, general, and administrative expenses ($73 million versus $51 million in Q2 2025) and $15 million in net asset impairment and other charges. These are primarily associated with operational actions in Costa Rica and acquisition-related costs. 

Margins were further impacted by elevated ocean freight and distribution costs, as well as unfavorable foreign exchange movements in the Costa Rican colón and the Mexican peso.

Segment breakdown: Bananas and Fresh/Value-Added 

Del Monte posted $569.3 million in net sales in the Fresh and Value-Added Products segment, which reflects overall stability compared to Q1 2026. Year-on-year results, however, took an 11 percent dip, sitting $144 million below Q2 2025’s $1.2 billion. 

According to the firm, the decline is a direct result of the divestiture of Mann Packing in late 2025, lower avocado selling prices driven by an industry-wide oversupply, and reduced production volumes in deciduous fruits.

Meanwhile, the company posted $361 million in net sales for its banana segment, up slightly from the $357 million reported in Q1. Gross profit, however, experienced a drastic year-on-year decline of 72 percent, going from $30 million in Q2 2025 to $8.4 million. 

“The decrease primarily reflected lower sales volume in North America due to weak market demand and in Asia due to lower supply,” the report reads. “Sales volume in the Middle East was also lower due to supply constraints and geopolitical developments in the region.”

*All images courtesy of Del Monte | Archive. 

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