Dole (DOLE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue increased 2.9% year-over-year to $2.5 billion, driven by strong performance in Diversified Fresh Produce - Americas & ROW and favorable currency impacts.

• Net income attributable to shareholders rose to $26.0 million for Q2 2026, up from $10.0 million in Q2 2025, aided by lower interest and tax expenses and higher other income, despite lower operating income.

• Adjusted EBITDA declined 14.8% to $116.8 million, mainly due to higher fruit sourcing and shipping costs in Fresh Fruit.

• Strategic milestones included the $95 million Ecuador port sale and the acquisition of Greenfood Fresh Produce in Scandinavia.

• Share repurchases totaled $10 million for over 700,000 shares during the quarter; $14.6 million YTD, with $85.4 million remaining authorized.

Financial highlights

• Q2 2026 revenue: $2,499 million (up from $2,428 million in Q2 2025); H1 2026 revenue: $4,842 million (up from $4,528 million in H1 2025).

• Net income attributable to shareholders: $26.0 million (Q2), $57.3 million (H1); Adjusted Net Income: $43.7 million (Q2), $74.9 million (H1).

• Adjusted EBITDA for Q2 2026: $116.8 million (down from $137.1 million YoY); H1 2026: $217.1 million (down from $241.9 million YoY).

• Adjusted diluted EPS: $0.46 (Q2), $0.78 (H1); gross margin decreased to 7.8% from 9.0% YoY.

• Free cash flow for Q2 2026 was $(10.8) million, improved from $(1.0) million in Q2 2025; H1 2026 free cash flow was $(51.0) million, improved from $(132.6) million in H1 2025.

Outlook and guidance

• Full-year 2026 Adjusted EBITDA guidance is approximately $400 million, reflecting ongoing cost pressures and expected benefits from pricing mechanisms and cost-saving initiatives.

• Routine capital expenditures expected at $100 million and interest expense at $58 million for the year.

• Operating environment remains complex due to elevated fuel/shipping costs, geopolitical uncertainty, and evolving trade policies, but consumer demand is resilient.

• Strategic priorities include strengthening core business, executing development pipeline, and focusing on cost control.

• No material changes to risk factors or guidance were disclosed.