Revenue: As of FY2026 Q1, the actual value is USD 1.044 B, beating the estimate of USD 1.031 B.

EPS: As of FY2026 Q1, the actual value is USD 0.21, missing the estimate of USD 0.62.

EBIT: As of FY2026 Q1, the actual value is USD 20.4 M.

Overall Financial Highlights (First Quarter 2026)

Fresh Del Monte Produce Inc. reported net sales of $1,044.1 million for the first quarter of 2026, marking a 4.9% decrease compared to the prior year, primarily due to the divestiture of Mann Packing and lower avocado sales, partially offset by the Del Monte Foods acquisition and favorable exchange rates. Gross profit was $89.0 million, with a gross margin of 8.5%. Adjusted gross margin was 8.7%. Operating income for the first quarter of 2026 was $20.1 million, and Adjusted operating income was $40.2 million. Income from equity method investments increased to $6.6 million. Net income attributable to Fresh Del Monte Produce Inc. was $10.0 million, and Adjusted net income was $29.9 million.

Segment Performance (First Quarter 2026 vs. First Quarter 2025)

• Fresh and Value-Added Products: Net sales were $549.0 million in Q1 2026, down from $612.3 million in Q1 2025. Gross profit increased to $59.8 million in Q1 2026 from $59.0 million in Q1 2025, with gross margin at 10.9% in Q1 2026 compared to 9.6% in Q1 2025. Adjusted gross profit for Q1 2026 was $60.6 million, and Adjusted gross margin was 11.0%.
• Banana: Net sales were $357.1 million in Q1 2026, compared to $363.8 million in Q1 2025. Gross profit was $16.5 million in Q1 2026, slightly down from $16.8 million in Q1 2025, with gross margin remaining at 4.6% for both periods. Adjusted gross profit for Q1 2026 was $18.0 million, and Adjusted gross margin was 5.0%.
• Prepared Foods: Net sales increased to $82.5 million in Q1 2026 from $70.9 million in Q1 2025, primarily driven by the acquisition of Del Monte Foods. Gross profit decreased to $8.9 million in Q1 2026 from $10.3 million in Q1 2025, resulting in a gross margin of 10.8% in Q1 2026 compared to 14.5% in Q1 2025.
• Other Products and Services: Net sales increased to $55.5 million in Q1 2026 from $51.4 million in Q1 2025. Gross profit decreased to $3.8 million in Q1 2026 from $6.1 million in Q1 2025, leading to a gross margin of 6.8% in Q1 2026 compared to 11.9% in Q1 2025.

Cash Flows

Net cash provided by operating activities for the first quarter of 2026 was $44.1 million, a decrease from $46.1 million in the prior-year period. Capital expenditures were - $14.4 million in Q1 2026, compared to - $10.0 million in Q1 2025. The acquisition of select assets of Del Monte Foods resulted in - $307.7 million net cash used in investing activities. Distributions received from unconsolidated companies were $29.6 million. Net cash used in investing activities was - $282.2 million in Q1 2026, compared to - $8.8 million in Q1 2025. Net cash provided by financing activities was $244.7 million in Q1 2026, a significant increase from - $34.5 million used in Q1 2025.

Balance Sheet and Capital Allocation

Long-term debt increased to $438.0 million at the end of the first quarter of 2026, up from $173.0 million at the end of fiscal year 2025, primarily due to debt incurred for the Del Monte Foods acquisition. Cash and cash equivalents increased to $66.3 million at March 27, 2026, from $35.7 million at December 26, 2025. Inventories, net, increased to $728.4 million from $581.9 million over the same period. Total assets were $3,402.4 million at March 27, 2026, compared to $3,059.0 million at December 26, 2025. Total liabilities increased to $1,372.9 million from $1,028.8 million, and total shareholders’ equity was $2,029.5 million compared to $2,030.2 million. Fresh Del Monte Produce Inc.’s Board of Directors declared a quarterly cash dividend of $0.30 per share payable on June 11, 2026. The company repurchased 100,000 shares of common stock for $4.0 million during the first quarter of 2026, with $116.2 million remaining under the current share repurchase plan as of March 27, 2026.

Outlook

Fresh Del Monte Produce Inc. anticipates future performance benefits from the Del Monte Foods acquisition, aiming to strengthen brand consistency, expand customer reach, and enhance efficiency. The company expects to build a stronger, more flexible platform focused on innovation and long-term value creation. However, these forward-looking statements are subject to risks including integration challenges, operating costs, potential litigation, and ongoing elevated commodity and supply chain costs due to geopolitical developments.