DOLE · Dole plc

Dole plc reported a solid start to fiscal 2026 with revenue increasing 11.6% to $2,342 million, driven by higher worldwide pricing in Fresh Fruit and favorable foreign currency translation of $96.2 million. On a like-for-like basis, revenue grew 7.0%. However, net income declined to $37.7 million from $44.2 million in the prior year, primarily due to lower operating income, higher tax charges, and lower equity method earnings (which included a $6.9 million non-cash gain in the prior year). Adjusted EBITDA decreased 4.3% to $100.3 million, in line with expectations, as higher fruit sourcing costs in Fresh Fruit offset strong performance in Diversified Fresh Produce - Americas & ROW. The Fresh Fruit segment saw Adjusted EBITDA fall 17.0% due to higher banana sourcing costs and currency headwinds in Costa Rica. Diversified Fresh Produce - EMEA grew Adjusted EBITDA 8.3% (but declined 5.1% on a like-for-like basis), while Americas & ROW increased 28.7% driven by southern hemisphere export volumes and restructuring benefits. Management noted robust consumer demand supported by health trends and GLP-1 adoption, but acknowledged complexity from the Middle East conflict impacting costs. The company maintained its full-year Adjusted EBITDA target of at least $400 million, reduced interest expense guidance by $2 million to approximately $58 million, and reiterated routine capex of about $100 million. Dole also declared a $0.085 per share dividend and repurchased $4.6 million in shares during the quarter.