Dole plc Reports Q2 2026 Financial Results with $2.5 Billion Revenue

Dole plc reported its financial results for the second quarter of 2026, revealing a net revenue of $2.5 billion, a 2.9% increase from $2.4 billion in the same period last year. For the first half of 2026, revenues reached $4.8 billion, up 6.9% from $4.5 billion in the prior year. The company's gross profit for the second quarter was $195.3 million, down from $218.3 million a year earlier, while operating income fell to $47.5 million from $103.2 million. The net income attributable to Dole plc was $26.0 million, compared to $10.0 million in the previous year, reflecting a significant recovery from losses associated with discontinued operations in 2025.

The financial performance was impacted by various factors, including increased costs of sales, which rose by 4.3% to $2.3 billion in the second quarter, driven by higher trading activity and elevated shipping costs. Selling, marketing, general, and administrative expenses also increased by 19.4% to $148.4 million, largely due to a non-recurring legal settlement and restructuring costs. Despite these challenges, Dole's other income improved significantly, turning to a gain of $3.9 million from a loss of $18.7 million in the prior year, primarily due to unrealized gains on foreign currency denominated borrowings.

Strategically, Dole completed the Port Sale Transaction on July 1, 2026, which involved the disposal of its Ecuadorian Port Business for approximately $180 million in cash proceeds. This transaction is expected to yield net cash proceeds of about $95 million after accounting for transaction costs and adjustments. Additionally, Dole's acquisition of Greenfood Fresh Produce Int’l AB in Sweden was finalized, further expanding its operational footprint. The company continues to focus on optimizing its product offerings and enhancing operational efficiencies across its segments.

Operationally, Dole's Fresh Fruit segment reported stable revenues of $972.8 million, while the Diversified Fresh Produce segments saw notable growth, particularly in the Americas, where revenues increased by 13.9% to $440.1 million. The company also reported a significant increase in Adjusted EBITDA for the Americas segment, reflecting strong performance in key products like kiwi and avocados. However, the Fresh Fruit segment's Adjusted EBITDA decreased due to rising sourcing costs and adverse weather conditions affecting supply.

Looking ahead, Dole remains cautious about the economic environment, citing ongoing geopolitical conflicts, fluctuating commodity prices, and evolving trade policies as potential challenges. The company is implementing strategies to mitigate these risks, including adjusting pricing and enhancing operational efficiencies. Dole's management believes that its current liquidity position, bolstered by cash and available credit, will support its operational and strategic initiatives in the coming months.