7/29/2026

speaker
Operator
Conference Call Operator

Good day everyone and welcome to Del Monte Corporation's second quarter 2026 conference call. Today's conference call is being broadcast live over the internet and is also being recorded for playback purposes. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again press star one. Thank you for opening remarks and introductions. I would like to turn today's call over to the Vice President, Investor Relations with Del Monte Corporation, Ms. Christine Cannella. Please go ahead, Ms. Cannella.

speaker
Christine Cannella
Vice President, Investor Relations

Thank you, Rob. Good day, everyone. And thank you for joining our second quarter 2026 conference call. Joining me in today's presentation of results are Mr. Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer, and Ms. Monica Vicente, Senior Vice President and Chief Financial Officer. I hope that you had a chance to review the press release that was issued earlier by Business Wire. You may also visit the company's IR website at investorrelations.freshdelmonte.com to access today's earnings materials and to register for future distributions. This conference call is being webcast live on our website and will be available for replay after this call. Please note that our press release and our call today include non-GAAP measures. Reconciliations of these non-GAAP financial measures are set forth in the press release and earnings presentation, which is available on our website. I would like to remind you that much of the information we will be speaking to today, including the answers we give in response to your questions, may include forward-looking statements within the safe harbor provisions of the federal securities laws. In today's press release, in our SEC filings, we detail risks that may cause our future results to differ materially from these forward-looking statements. Our statements are as of today, July 29, 2026, and we have no obligation to update any forward-looking statement we may make. During the call, we will provide a business update along with an overview of our financial results, followed by a question and answer session. With that, I will turn today's call over to Mr. Mohammad Abu-Ghazaleh. Please go ahead.

speaker
Mohammad Abu-Ghazaleh
Chairman and Chief Executive Officer

Thank you, Christine. Good morning, everyone, and thank you for joining us. This quarter marks a defining milestone in our company's history. We officially stand as the Monte Corporation. a premier organization built on decades of world-class leadership in fresh produce, now fully empowered to create exceptional value across fresh, refrigerated, shelf-stable and prepared foods, while unlocking the complete potential of our global agricultural platform. That strategic evolution is already delivering clear, tangible results. Our foods division, created through the purchase of Del Monte Foods, rapidly validated our thesis following the acquisition in March, where we move with speed and precision to execute a clear value creation plan built on operational discipline, targeted product focus, Sharpened Commercial Execution, and supply chain rigor across our expanded global distribution network. By the end of the second quarter, I'm proud to announce that our Foods Division delivered profitable performance, establishing a strong operational foundation that represents just the beginning of the growth trajectory we have mapped out as we expand our branded platform. What we are building is a fundamentally stronger, more dynamic company designed to deliver enhanced earnings quality, continuous resilience, and long-term valuation expansion. For decades, Fresh has been the foundation of our success, and it remains the core of our business. Our Fresh platform delivers massive global scale supply chain expertise and deep retail relationships worldwide, diving our volume, powering operational leverage, and anchoring our global market presence. By pairing our fresh strength with our expanded prepared foods portfolio, which includes the acquisition of Del Monte Foods, We now operate two distinct, highly complementary growth engines. Our shelf-stable prepared foods category bring structurally higher margins, extended shelf life, and predictable revenue streams backed by incredible consumer loyalty to the Del Monte brand. Quite simply, we have evolved into a fully diversified Global Food Platform that balances the reach and momentum of fresh with the margin quality and brand equity of packaged foods, positioning us to navigate market cycles more smoothly and deliver consistent long-term shareholder value. Equally transformative is how this acquisition unlocks the full strategic potential of the Del Monte brand. For nearly four decades, brand ownership was divided across separate platforms. But now for the first time since the 1980s, the Del Monte brand is under single unified leadership. We now directly control the global brand strategy, the innovation roadmap, and category expansion decisions. creating a major structural competitive advantage. This unified ownership empowers us to expand retail partnerships through cross-selling across fresh, refrigerated, and pantry categories, streamlined procurement and logistics under one integrated supply chain, and leverage shared consumer insights to extend the brand into high-growth, modern consumption occasions. As we execute our multi-year integration plan, our operational priorities for the remainder of 2026 remain clear and focused. First, we will drive operational rigor across our food division by maintaining outstanding service levels, deepening customer partnerships, and executing a high-performing pack season. Second, We will capture clear line of sight synergies through early cost efficiencies across procurement, logistics, SG&A, and trade spend optimization. Third, we will continue investing in and growing our fresh division, which remains our primary engine for overall revenue and operational cash flow. The performance of our first 100 days since acquiring Del Monte Foods confirms the strength of our strategy and the best opportunities ahead. Owning the Del Monte brand outright and leveraging our combined agriculture platform enables us to capture growth in areas this company has never reached before. I am remarkably confident and what we are building. And I believe that the Monte Corporation of the coming decade will be a stronger, higher margin and significantly more valuable business. With that, I will turn it over to Monica Vicente, our Chief Financial Officer, to discuss our financial results. Monica.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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