Century Pacific nine-month profit drops 11% on quake losses

Insider Spotlight

• Reported net income falls 11 percent to P5.2 billion.
• Revenues climb 14 percent to P70.5 billion.
• Core earnings rise 10 percent despite earthquake losses.

The Po family's Century Pacific Food Inc. (CNPF) reported an 11 percent decline in net income after tax to P5.2 billion in the first nine months of 2026, as earthquake-related losses and higher tax and financing costs offset double-digit revenue growth.

The food manufacturer's reported earnings weakened despite stronger sales and improved operating efficiency, highlighting the financial impact of disruptions at its General Santos production facilities, a regulatory filing on Friday showed. 

CNPF also aims to maintain double-digit revenue growth through year-end, although core earnings growth is expected to trail sales expansion, the fine showed. The company is also preparing measures to mitigate potential El Niño-related supply disruptions.

What they're saying

“This year has been an uphill climb, marked by geopolitical uncertainties, inflationary pressures, subdued consumer sentiment, and natural calamities. All things considered, we remain grateful for the results we have achieved thus far. Our diverse portfolio and healthy balance sheet have kept us resilient, allowing us to maneuver through headwinds while continuing to invest in our long-term growth,” CNPF chief financial officer Chad Manapat said.

By the numbers

Unaudited consolidated revenues climbed 14 percent to P70.5 billion, with third-quarter sales increasing 12 percent year-on-year and 8 percent from the preceding quarter.

Domestic-focused branded products delivered 12 percent volume-led growth, while original equipment manufacturer (OEM) exports rose 21 percent from a low base.

Gross margin improved by 10 basis points to 25.6 percent, while operating expenses as a share of sales declined by 30 basis points to 13.9 percent.

Christopher Po 

Century Pacific Food executive chair

The earnings gap

Operating income before non-recurring earthquake losses increased 20 percent, but reported operating income grew just 4 percent after the company recognized P1.2 billion in earthquake-related losses.

Excluding the earthquake impact, core net income after tax increased 10 percent.

Beyond the earthquake losses, Century Pacific faced higher taxes following the expiration of incentives, while increased borrowing pushed up financing costs.

The losses followed a magnitude 7.8 earthquake that struck General Santos in June, affecting key manufacturing facilities.

Operations fully resumed by the start of the third quarter, with insurance recoveries expected in subsequent periods, according to the company's earnings release.

Expansion plans

CNPF allocated approximately P8 billion for capital expenditures in 2026, with P5 billion deployed by the end of September.

Investments are focused on expanding coconut processing capacity and developing new dairy and pet food facilities.

– Princess Daisy C. Ominga | Ed: Miguel R. Camus