Del Monte EPS Smashes Estimates at $0.72, Revenue Misses; Stock Jumps 4%
DMC is trading near its 52-week low of $26.47 (11% above the low).
Summary
Del Monte's first post-merger quarter delivered a big EPS beat — $0.72 vs. $0.53 consensus — but revenue of $1.22B fell short of the $1.31B estimate. The top-line miss reflects divestiture drag (Mann Packing) and weak banana volumes, while the bottom line benefited from the Del Monte Foods acquisition. The board declared a $0.30 quarterly dividend and bought back $16M in stock, signaling confidence. Shares rose 4.25% on the day, reflecting relief on profitability despite revenue pressure. Watch for sustained margin improvement as merger synergies develop.
At the time of this announcement, DMC was trading at $29.46 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $26.47 to $43.58. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.