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 FX movements.

• Net income attributable to shareholders rose to $26.0 million for Q2 2026, with reported net income from continuing operations at $35.1 million, aided by lower interest and tax expenses despite lower operating income.

• Adjusted EBITDA for Q2 2026 was $116.8 million, down 14.8% year-over-year, mainly due to higher sourcing and shipping costs in Fresh Fruit.

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

• The business remains focused on disciplined capital allocation, automation, and AI investments to enhance operational efficiency.

Financial highlights

• Q2 2026 revenue: $2.50 billion (up $71.0 million YoY); H1 2026 revenue: $4.84 billion (up $313.8 million YoY).

• Net income from continuing operations was $35.1 million (Q2), compared to $52.9 million in the prior year; net income attributable to shareholders was $26.0 million (Q2), $57.3 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 net income for Q2 2026: $43.7 million; adjusted diluted EPS: $0.46 (Q2), $0.78 (H1).

• Gross profit and margin declined due to higher cost of sales and sourcing/shipping costs, especially in Fresh Fruit.

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.

• Second half expected to be stronger, with fuel surcharge recoveries and improved Fresh Fruit performance.

• Net leverage expected to be below 1.5x by year-end, supported by port sale proceeds.

• Management expects continued volatility due to geopolitical conflicts, fuel price increases, and evolving trade policies.