On March 1, Del Monte Foods (NYSE:DLM) released third-quarter earnings for the period ended Jan. 28.
- For the full rundown on Del Monte's quarter, open up this earnings cocktail.
- The sales growth was largely driven by the company's acquisitions of the Meow Mix and Milk-Bone brands.
- The company expects 12%-15% sales growth for its 2007 fiscal year, again driven by its recent acquisitions.
- Del Monte is currently rated a two-star stock by the Motley Fool CAPS community. Competitor Smucker (NYSE:SJM) is rated higher by investors, coming in at a four-star rating. But Heinz (NYSE:HNZ), a Motley Fool Income Investor pick, is rated a lowly two stars as well. To see what people are saying about all three of these companies and many more, join CAPS for free today.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2007 |
Q3 2006 |
Change | |
|---|---|---|---|
|
Sales |
$907.2 |
$789.6 |
14.9% |
|
Net Profit* |
$45.1 |
$45.2 |
(0.2%) |
|
EPS* |
$0.22 |
$0.22 |
0.0% |
|
Diluted Shares |
204.4 |
201.9 |
1.2% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2007 |
Q3 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
27.9% |
27.7% |
0.3 |
|
Operating Margin |
12.2% |
11.7% |
0.5 |
|
Net Margin |
5.0% |
5.7% |
(0.8) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$20.9 |
$94.6 |
(77.9%) |
|
Accounts Rec. |
$251.5 |
$218.2 |
15.3% |
|
Inventory |
$1,006.2 |
$1,024.6 |
(1.8%) |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Accounts Payable* |
$501.6 |
$462.8 |
8.4% |
|
Total Debt** |
$1,986.1 |
$1,305.0 |
52.2% |
**Excludes short-term borrowings.
Learn the ways of the balance sheet.
Cash Flow Highlights
|
YTD 2007 |
YTD 2006 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$20.2 |
$86.5 |
(76.6%) |
|
Capital Expenditures |
$51.3 |
$39.2 |
30.9% |
|
Free Cash Flow |
($31.1) |
$47.3 |
N/A |
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