Highlights

  • Dole shows 145.85% one-year basic EPS growth, a P/E of 18.15 and PEG of -3.85.
  • Second quarter net income attributable to Dole was $25,984 thousand, against $9,966 thousand.
  • Non-GAAP adjusted EBITDA was $116,762 thousand, against $137,118 thousand.
  • Dole repurchased 719,290 shares for $10.0 million in the second quarter.

Growth, P/E and PEG sit side by side at Dole (NYSE:DOLE), an undervalued growth stock: basic earnings per share grew 145.85% over one year, the trailing twelve-month P/E ratio is 18.15 and the PEG ratio, on an expected basis, is -3.85, with shares trading at USD 13.24 on October 28, 2026, up 0.27%. In its latest disclosures, the fresh produce company completed the sale of its Ecuadorian port business and the acquisition of Greenfood Fresh Produce Int’l AB on July 1, 2026, then reported second quarter net income attributable to Dole plc of $25,984 thousand on August 10.

Dole plc is incorporated in Ireland, with its registered address in Dublin and principal executive offices also in Charlotte, North Carolina. The company produces and markets fresh fruit and vegetables sourced from over 100 countries and sold in over 85 countries through retail, wholesale, food service and e-commerce channels. Its three reportable segments are Fresh Fruit, Diversified Fresh Produce – EMEA, and Diversified Fresh Produce – Americas & ROW.

Growth: Second Quarter Earnings, Revenue and Segments

Net income attributable to Dole plc was $25,984 thousand in the second quarter against $9,966 thousand a year earlier, and $57,281 thousand for the six months against $48,878 thousand. Basic and diluted earnings per share were both $0.27 against $0.10, and six-month basic earnings per share were $0.60 against $0.51. Income from continuing operations was $35,127 thousand against $52,939 thousand, and the prior-year quarter included a $34,950 thousand loss from discontinued operations.

Revenues, net were $2,499,411 thousand, up 2.9% from $2,428,427 thousand, with currency translation adding $30.3 million. Operating income was $47,494 thousand against $103,219 thousand. Selling, marketing, general and administrative expenses rose 19.4%, which the company attributed primarily to a nonrecurring charge for settling a historical legal matter, restructuring costs and currency translation.

Segment adjusted EBITDA, a non-GAAP measure, was $50,257 thousand for Fresh Fruit against $72,756 thousand, $45,931 thousand for EMEA against $48,984 thousand, and $20,574 thousand for Americas & ROW against $15,378 thousand. The company cited higher fruit sourcing, fuel and shipping costs in Fresh Fruit.

Valuation: P/E of 18.15, PEG of -3.85 and Cash Generation

The P/E ratio of 18.15 is measured on trailing twelve-month earnings, and the PEG ratio of -3.85 on an expected basis. Net cash used in operating activities from continuing operations was $8.5 million for the six months against $60.4 million used a year earlier. Six-month adjusted EBITDA, a non-GAAP measure, was $217,074 thousand against $241,940 thousand.

On the second quarter call, Chief Executive Officer Rory Byrne said the company weighs share repurchases against returns from development projects and acquisitions, and described the dividend as well established.

Capital: Liquidity, Repurchases, Dividends and Port Proceeds

Cash and cash equivalents were $291,705 thousand at June 30, 2026, and total available liquidity was $841,746 thousand against $1,039,382 thousand at December 31, 2025. Non-GAAP net debt was $746,136 thousand, against $606,476 thousand. The credit agreement provides a $600.0 million revolving facility, a $250.0 million Term Loan A and a $350.0 million Farm Credit Term Loan.

The board authorized up to $100.0 million of repurchases on November 7, 2025. Dole repurchased 719,290 shares at an average $13.88 for $10.0 million in the quarter and 1,025,860 shares at $14.25 for $14.6 million in six months, leaving approximately $85.4 million. It declared a dividend of $0.085 per share on August 7, 2026, payable October 7, 2026. The port disposal brought cash proceeds of approximately $180.0 million, with total net cash proceeds expected at approximately $95.0 million.

Disclosed Risks and Outlook for 2026

Dole disclosed DBCP lawsuits with claimed damages of approximately $17.8 billion, almost all in Nicaragua; it stated it has denied liability, believes the Nicaraguan judgments are not enforceable against it and expects no material adverse effect. A June 2026 settlement with Shell over the former Shell site will be completed after period end, with legacy insurers funding most of it. A foreign subsidiary faces an assessment of approximately $23.5 million for 2017, which the company is contesting after an administrative ruling against it.

The 10-Q lists Middle East conflict, fuel prices, tariffs, crop disease and weather among external pressures. On the call, management said fuel and shipping costs remain elevated, and the chief operating officer named El Niño conditions as a possible yield risk for bananas and pineapples.

Management said it is targeting full year 2026 adjusted EBITDA of approximately $400 million and maintaining routine capital expenditure guidance of approximately $100 million. It expects second-half benefits from contractual pricing mechanisms, including fuel surcharges, and cost-saving actions in Fresh Fruit.