Dole revenue rises 2.9% in Q2 2026

GLOBAL – Dole plc, a global leader in fresh produce sourcing and distribution, reported a modest 2.9% increase in second-quarter 2026 revenue to US$2,499 million, while adjusted EBITDA fell 14.8%, driven by higher fruit procurement and shipping costs, particularly in the banana and pineapple sectors.

The company’s net income increased to US$35.1 million from US$18.0 million, while adjusted net income decreased by 17.7% to US$43.7 million.

Meanwhile, fresh Fruit revenue was broadly unchanged at US$972.8 million, with higher European banana volumes and underlying banana pricing in North America offset by lower North American banana and pineapple volumes.

Adjusted EBITDA in this segment declined by 30.9% to US$50.3 million, reflecting higher fruit sourcing and shipping costs, higher pineapple growing costs, and the strengthening of the Costa Rican Colón against the US dollar.

Furthermore, growth was uneven across regions. For instance, diversified Fresh Produce, Americas & ROW revenue increased 13.9% to US$440.1 million, with adjusted EBITDA rising 33.8% to US$20.6 million.

Conversely, Diversified Fresh Produce’s EMEA revenue increased by 1% to US$1,111.4 million, while adjusted EBITDA decreased by 6.2% to US$45.9 million.

Currency fluctuations and sourcing costs reduced overall profitability, increasing input costs in dollar terms when local currencies strengthened against the US dollar, while higher shipping and procurement expenses squeezed margins across the Fresh Fruit segment.

Moreover, for the first six months, group revenue rose to US$4,841.6 million from US$4,527.8 million, while adjusted EBITDA fell to US$217.1 million from US$241.9 million. Dole completed the sale of its Ecuador port on July 1, with cumulative net cash proceeds expected to be approximately US$95.0 million.

Additionally, the company also completed its acquisition of the Greenfood Fresh Produce division in Scandinavia after the quarter. These strategic moves are intended to streamline operations and focus on core markets.

Dole is targeting full-year adjusted EBITDA of approximately US$400 million for 2026. It continues to expect routine capital expenditure of approximately US$100 million and interest expense of approximately US$58 million.

Strategic acquisitions, such as the Greenfood Fresh Produce division, are shaping Dole’s outlook by expanding its presence in Scandinavia and diversifying its product portfolio, while divestitures, such as the Ecuador port sale, enable the company to strengthen its balance sheet and focus on core operations.

Lastly, despite currency fluctuations and inflationary pressures, the company maintains its full-year earnings target of approximately US$400 million.

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