Dole plc Reports $2.34 Billion Revenue in Q1 2026, Up 11.6%

Dole plc reported a net revenue of $2.34 billion for the first quarter of 2026, marking an increase of 11.6% compared to $2.10 billion in the same period last year. The company's gross profit rose slightly to $185.0 million from $182.2 million, while operating income decreased to $62.0 million from $67.9 million. Net income attributable to Dole plc was $31.3 million, down from $38.9 million in the prior year, reflecting a decline in income from continuing operations, which fell to $37.7 million from $44.1 million.

The financial performance was influenced by several factors, including a 12.5% increase in cost of sales, which rose to $2.16 billion, driven by higher trading activity and increased sourcing costs for bananas and pineapples. The company also reported a gain on the disposal of businesses amounting to $1.2 million, significantly higher than the previous year's gain of $0.4 million. However, the gain on asset sales decreased to $0.7 million from $3.8 million, contributing to the overall decline in profitability.

Dole's strategic developments included the ongoing exit from its Fresh Vegetables division, which was completed in August 2025. The company received $3.3 million in cash inflows related to this transaction during the quarter. Additionally, Dole is in the process of selling its port properties in Ecuador, with expected net cash proceeds of approximately $75 million, pending regulatory approvals. The company continues to focus on operational efficiencies and strategic investments to navigate the current economic environment, which is characterized by geopolitical conflicts and fluctuating commodity prices.

Operationally, Dole's Fresh Fruit segment generated $937.7 million in revenue, up 6.8% year-over-year, while the Diversified Fresh Produce – EMEA segment saw a 14.6% increase to $1.02 billion. The Americas & ROW segment also experienced a 15.6% revenue increase to $420.0 million. The company reported a total employee headcount of 38,000 as of March 31, 2026, reflecting its extensive global operations across various regions.

Looking ahead, Dole's management remains cautious about the economic landscape, citing ongoing challenges such as fluctuating foreign exchange rates, rising input costs, and evolving trade policies. The company is committed to implementing mitigation strategies to manage these risks while maintaining its focus on growth and profitability. Dole's liquidity position remains strong, with total available liquidity of approximately $934.7 million as of March 31, 2026, which the company believes will be sufficient to meet its operational and capital needs in the foreseeable future.