Dole Reports Q3 Earnings, Cuts 2026 Adjusted EBITDA Outlook
Dole reported adjusted diluted EPS of 16 cents, below the 34-cent analyst estimate, and revenue of $2.37 billion in line with expectations. It lowered its 2026 adjusted EBITDA midpoint to $385 million from approximately $400 million.
Dole plc announced its third-quarter 2026 financial results, reporting adjusted diluted earnings per share of 16 cents, which fell short of the 34-cent average analyst estimate. While quarterly revenue of $2.37 billion was in line with expectations, the company lowered its full-year 2026 adjusted EBITDA target to a midpoint of $385 million, down from its previous guidance of approximately $400 million. Management attributed the performance to a challenging cost environment, specifically citing elevated fuel and shipping expenses, alongside adverse weather conditions that impacted fruit availability.
The company's net income of $48.3 million included a $48.6 million gain from the divestiture of its Ecuador port operations. Segment performance was mixed, with revenue in the Fresh Fruit division declining 8% due to lower banana and pineapple volumes, while diversified fresh produce segments saw growth supported by acquisitions.