The produce giant’s Q1 net sales fell 4.9 per cent to US$1.04bn, while net income dropped to US$10mn from US$31.1mn year-on-year
Fresh Del Monte Produce has reported its financial results for the first quarter of the year ended 27 March, with net sales and net income both falling from the corresponding period of 2025.
Net sales stood at U$1.04bn, a decrease of 4.9 per cent that was primarily driven by lower net sales in the company’s fresh and value-added products segment.
This, Del Monte noted, reflected the strategic divestiture of its Mann Packing business in the fourth quarter of 2025, as well as lower net sales in its avocado product line due to industry-wide oversupply, which resulted in lower per-unit selling prices.
The decrease was partially offset by net sales from the company’s acquisition of Del Monte Foods in March 2026, as well as the favourable impact of fluctuations in exchange rates primarily related to the euro.
Gross profit for the first quarter of 2026 was US$89mn, attributed to lower gross profit in the company’s other products and services business segment, reflecting lower per-unit selling prices in its poultry and meats business due to slower demand and the impact of the Middle East conflict.
It was also negatively impacted in Del Monte’s prepared foods business segment, driven by higher per-unit production and procurement costs.
Across the group’s portfolio, results were affected by supply chain disruptions in the Strait of Hormuz associated with geopolitical developments and the unfavourable impact of fluctuations in exchange rates due to a stronger Costa Rican colon, it confirmed.
The decrease was partially offset by higher per-unit selling prices in the banana and pineapple product lines, as well as the acquisition of Del Monte Foods.
Operating income for quarter was US$20.1mn, down from US$44.9mn in 2025, the result of higher asset impairment and other charges.
Net income attributable to Fresh Del Monte was US$10mn, dropping from US$31.1mn in the opening quarter of 2025.
“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,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s chairman and CEO.
“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 centre 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,” he added.
