Key Highlights

  • Adjusted EBITDA reached USD 84.1 million, up 4.1% from the prior year.
  • Adjusted diluted EPS was USD 0.16, unchanged from the prior year quarter.
  • Net income was USD 48.3 million, compared with USD 13.8 million a year earlier.
  • Full year adjusted EBITDA guidance stands at USD 380 million to USD 390 million.

Dole plc (NYSE:DOLE) reported third quarter 2026 Revenue of approximately USD 2.4 billion, an increase of 3.8% from the prior year. The company attributed the increase to growth across both diversified segments and the net effect of acquisitions, partly offset by lower revenue in Fresh Fruit. On a like-for-like basis, revenue increased 2%. Adjusted diluted EPS was USD 0.16, unchanged from the prior year period. Estimates for the quarter stood at EPS of USD 0.32 and revenue of USD 2.37 billion.

Adjusted EBITDA increased 4.1% to USD 84.1 million, with gains in Diversified Americas and Rest of World and in Fresh Fruit, partly offset by a modest decrease in Diversified EMEA. Adjusted Net Income was USD 15 million, broadly in line with the prior year. Net income was USD 48.3 million, compared with USD 13.8 million a year earlier.

Segment Performance Across the Group

Fresh Fruit revenue decreased 8% to USD 818.7 million, while adjusted EBITDA increased 6% to USD 28.8 million. The company linked the increase to improved banana pricing in North America and banana volumes in Europe.

Diversified EMEA revenue increased 9.3% to approximately USD 1.1 billion, driven by an Acquisition in Scandinavia and growth in the region, partly offset by lower revenue in Spain. On a like-for-like basis, revenue increased 4.1%. Adjusted EBITDA decreased 3.1% to USD 39.5 million, reflecting weaker performance in the Netherlands and Spain, partly offset by improvements in Scandinavia, Ireland and the U.K. On a like-for-like basis, adjusted EBITDA decreased 2%.

Diversified Americas and Rest of World revenue increased 14.1% to USD 479.2 million, driven by higher volumes in the North American business. Adjusted EBITDA in that segment increased 22.8% to USD 15.8 million.

Profit, Cash Flow and Balance Sheet

Gross profit increased by USD 13.5 million to USD 168.7 million, while SMG&A expenses were USD 3.8 million higher. Operating Income was USD 88.9 million, which the company tied to the gain recognized on the sale of its port Facility in Ecuador together with the improvement in gross profit.

Operating cash flow was USD 132.2 million in the quarter and USD 123.7 million year to date. Capital Expenditure was approximately USD 21.8 million in the quarter, with USD 64.4 million spent year to date. Free cash flow was USD 110.4 million, compared with USD 66.5 million in the third quarter of 2025.

Net Debt was USD 491.3 million and net Leverage was 1.3x at the end of September. The company linked the reduction in net debt to free cash flow and the proceeds from the completed Ecuadorian port sale. It invested USD 10 million in share repurchases during the quarter and USD 24.6 million over the first nine months of the year.

Guidance and Fuel Costs

The company now targets full year 2026 adjusted EBITDA of USD 380 million to USD 390 million, compared with approximately USD 400 million previously. Capital expenditure for the full year is guided to USD 90 million.

Management said shipping fuel Surcharge mechanisms offset higher fuel costs in North America, while in Europe the company does not have the same protection. Higher shipping fuel costs in Europe carry an adverse impact of approximately USD 16 million for the full year relative to the company's original 2026 plans.

Reference Points for the Fourth Quarter

Several disclosed figures frame the final quarter of the year. The full year adjusted EBITDA range of USD 380 million to USD 390 million, the capital expenditure figure of USD 90 million and the net Leverage Ratio of 1.3x are the main numbers management put on the table.

The company also described its strategic steps over the last 18 months and its continuing capital returns to shareholders. Share repurchases totaled USD 24.6 million over the first nine months, and the Ecuador port sale has been completed. Banana pricing in North America, European volumes and fuel costs in Europe are the operating items the company discussed in the Fresh Fruit segment.