Dole plc Reports First Quarter 2026 Financial Results; Carl McCann Comments

DUBLIN, IRELAND - Dole plc released its financial results for the three months ended March 31, 2026.

First Quarter Highlights

• Solid start to the year: 11.6% revenue growth reflecting positive momentum across the Group
• Robust consumer demand across our key markets, supported by evolving dietary preferences, GLP-1 adoption, and broader health and wellness trends
• Strong performance in Diversified Fresh Produce - Americas & ROW and growth in Diversified Fresh Produce - EMEA partially offsetting lower result in Fresh Fruit
• Net Income of $37.7 million and Diluted EPS of $0.33
• Adjusted EBITDA1 of $100.3 million; in line with our expectations
• Adjusted Net Income1 of $31.2 million and Adjusted Diluted EPS1 of $0.33
• Post quarter end, regulatory approval received for sale of port in Ecuador; completion expected before end of second quarter

Commenting on the results, Carl McCann, Executive Chairman, said in the recent release:

“We are pleased with our solid start to the year. Robust consumer demand in our key markets is driving revenue growth and contributing to positive momentum across the Group.

While we are experiencing complexity in the operating environment due to the ongoing conflict in the Middle East, we believe the strength of our broad and resilient business model positions us well to manage these evolving conditions.

We continue to target full year Adjusted EBITDA of at least $400 million.”

Group Results - First Quarter

Revenue increased 11.6%, or $242.8 million, primarily due to positive operational performance across all segments, mainly due to higher worldwide pricing in Fresh Fruit, and a favorable impact from foreign currency translation of $96.2 million. On a like-for-like basis, revenue increased 7.0%, or $146.6 million.

Gross Profit increased $2.8 million, primarily due to higher revenue, partially offset by higher cost of sales which were impacted by higher fruit sourcing costs in the Fresh Fruit segment.

Operating Income decreased $5.9 million primarily due to higher SMG&A expenses and higher gains on asset sales in the prior year following the sale of land in Hawaii.

Net Income decreased to $37.7 million from $44.2 million in the prior year. This decrease was due to lower Operating Income, higher tax charges and lower equity method earnings, as the prior year included the benefit of a non-cash gain of $6.9 million on a M&A transaction relating to an equity method investment. These decreases were partially offset by an increase in other income due primarily to fair value adjustments of financial instruments and lower interest expense.

See the full report here.