DOLE

Image source: The Motley Fool. Monday, Aug. 10, 2026 at 8:00 a.m. ET Head of Investor Relations-James O'Regan Chief Executive Officer-Rory Byrne Chief Operating Officer-Johan Linden Chief Financial Officer-Jacinta Devine Operator: Welcome to Dole plc's Second Quarter 2026 Results Webcast. Today's webcast is being broadcast live over the Internet and is also being recorded for playback purposes. [Operator Instructions] For opening remarks and introductions, I would like to turn the call over to the Head of Investor Relations with Dole plc, James O'Regan. James Regan: Thank you, Derrick. Welcome, everybody, and thank you for joining our results webcast. Joining me today is our Chief Executive Officer, Rory Byrne; our Chief Operating Officer, Johan Linden; and our Chief Financial Officer, Jacinta Devine. During this webcast, we will be referring to presentation slides to supplement our remarks, and these, along with our earnings release and other related materials, are available on the Investor Relations section of the Dole plc website. Please note, our remarks today will include certain forward-looking statements within the provisions of the federal securities safe harbor law. These reflect circumstances at the time they are made, and the company expressly disclaims any obligation to update or revise any forward-looking statements. Actual results or outcomes may differ materially from those that may be expressed or implied due to a wide range of factors, including those set forth in our SEC filings and press releases. Information regarding the use of non-GAAP financial measures may be found in our press release, which also includes a reconciliation to the most comparable GAAP measures. With that, I'm pleased to hand over to Rory. Rory Byrne: Thank you, James, and welcome, everybody, and thank you all for joining us today as we discuss our results for the second quarter and provide an update on the latest developments across the Group. So turning firstly to Slide 4. Well, across the Group, we continue to see healthy consumer demand for our products. Fresh produce consumption remains resilient, supported by the long-term health and wellness trends, and we believe this augurs well for the future of our sector. Our second quarter results was in line with our expectations, reflecting the impact of higher fuel and shipping costs on Fresh Fruit profitability arising from the conflict in the Middle East. Despite these pressures, the quarter once again demonstrated the resilience of our diversified business model with the strength of our Diversified Americas in particular helping to offset the pressures experienced in Fresh Fruit. Since our last update, we've been active in advancing our development pipeline while maintaining our disciplined approach to capital allocation. Turning now to Slide 5 and focusing in more detail on this topic. As we said last quarter, our priority remains clear: to allocate capital where we can achieve the best long-term returns for our shareholders. As part of this approach, we were delighted to complete the Ecuador port sale on July 1. This transaction represents an important milestone, unlocking approximately $95 million of net proceeds, further strengthening our balance sheet and increasing our financial flexibility. Importantly, the sale is expected to have a negligible impact on our ongoing earnings and cash flow profile, making it a very attractive, value-enhancing transaction for shareholders. We continue to explore an important strategic opportunity to invest in automation, AI and innovative warehouse solutions to better serve our core customer base in Scandinavia. As part of this strategy, we were very pleased to complete the acquisition of Greenfood's Fresh Produce division in Scandinavia at the beginning of July. This acquisition strengthens our position in an attractive market where we already have meaningful and successful operational capabilities. And it also adds a state-of-the-art distribution facility in Helsingborg, which gives us a strong platform for the next phase of this automation and artificial intelligence investment. Alongside these larger projects, we continue to look at smaller bolt-on acquisitions that complement and strengthen our existing operations. During the quarter, we completed a bolt-on acquisition within our Irish growing operations, further strengthening our sourcing capabilities and supply base. The fresh produce market remains fragmented, and we continue to see opportunities for disciplined acquisitions that add value across our core markets. Finally, returning capital to shareholders remains an important component of our capital allocation framework. During the quarter, we repurchased just over 700,000 shares for $10 million, at an average price of $13.88 per share. As always, we weigh share repurchases against the returns available from our development projects and acquisitions. We remain focused on balancing investment for growth with returns to shareholders. Turning now to the operational review and beginning with the Fresh Fruit slide on Slide 8. As we flagged on our first quarter call, we anticipated higher fuel and shipping costs to arise from the conflict in the Middle East, and that is how the quarter played out. Looking at our main product categories. Bananas, we saw strong volumes in Europe with pricing broadly in line with the prior year. In North America, volumes were lower, reflecting market conditions and our focus on disciplined profitability, although underlying pricing was slightly higher than the prior year. For pineapples, weather affected availability during the quarter, while the continued strength of the Costa Rica colón pressured profitability. These challenges are not unique to Dole and continue to affect producers across the industry. Positively, overall demand for our products remains resilient. As we move through the second half, we expect to benefit from contractual pricing mechanisms, including fuel surcharges together with increasing benefits from our recent investments in production and sourcing, and the cost-saving actions we continue to advance across the segment. Taken together, these initiatives are expected to help offset a portion of the cost pressures experienced during the second quarter and support improved Fresh Fruit performance in the second half of the year relative to the prior year. Turning now to Diversified EMEA. The segment delivered a solid quarter overall, with revenue broadly stable, although profitability was slightly below the strong prior year comparative. Sweden was again a strong contributor, and we continue to see the benefits of our investments in logistics, infrastructure and automation. The lower year-on-year result was driven largely by South Africa, which had our greatest exposure to the disruption in the Middle East during the quarter. Turning to Diversified Americas. Diversified Americas delivered another strong quarter and was again an important contributor to Group performance. The segment benefited from strong category performance, disciplined execution and the continued benefits of investments made over recent years. The dynamic pricing model continues to support profitability and gives us flexibility to manage changing market conditions. The strong performance through the first half again highlights the value of our diversified business model and helped offset the pressures in Fresh Fruit. With that, I'll hand you over to Jacinta to give the financial review for the second quarter. Jacinta Devine: Thank you, Rory, and good day, everyone. Turning firstly to the Group results on Slide 11. Group revenue of $2.5 billion was 2.9% higher on a reported basis, reflecting positive operational performance across the Group, together with favorable foreign exchange movements. Excluding foreign exchange impacts, on a like-for-like basis, revenue was 1.7% ahead. While revenue remained resilient, profitability was impacted by higher costs within Fresh Fruit, as discussed by Rory. Cost of sales increased at a proportionally higher rate than revenue, primarily reflecting the higher costs in Fresh Fruit. And as a result, gross profit decreased by $23 million. SG&A expenses were higher year-over-year, primarily due to a nonrecurring charge recorded in connection with the settlement of a historical legal matter. In Q2 2025, we booked gains from asset sales in Hawaii, which also contributed to the overall decrease in operating income. Offsetting this, other income increased by $22.6 million, primarily reflecting favorable unrealized foreign exchange movements on foreign currency denomination borrowings compared with an unrealized loss in the prior year. Interest expense decreased by $2.7 million due to lower average borrowings and lower base interest rates. Overall, net income from continuing operations was $35.1 million, compared to $52.9 million in the prior year. However, total net income increased year-on-year as the prior year included a loss from discontinued operations associated with the Fresh Vegetables business, which was divested in August 2025. Looking now at the non-GAAP performance measures. Adjusted EBITDA was $117 million, a decrease of $20.4 million, mainly driven by the higher costs within Fresh Fruit and partially offset by another strong performance from Diversified Americas. Adjusted net income decreased $9.4 million, predominantly due to the decrease in adjusted EBITDA, partially offset by lower interest expense and a lower tax charge. Adjusted diluted EPS was $0.46, compared to $0.55 in Q2 2025. Turning now to the divisional updates, starting with Fresh Fruit on Slide 13. Revenue of $972.8 million was broadly in line with the prior year as higher banana volumes in Europe and higher underlying pricing in North America was partially offset by lower banana volumes in North America and lower pineapple volumes across all markets. Adjusted EBITDA decreased by $22.5 million to $50.3 million, primarily reflecting elevated fuel and shipping costs, higher fruit sourcing costs, higher pineapple growing costs and the continued appreciation of the Costa Rican colón. In Diversified Fresh Produce-EMEA, reported revenue increased 1%, primarily due to favorable foreign exchange and underlying growth in Scandinavia, partially offset by lower revenue in Spain relative to a strong comparator quarter. On a like-for-like basis, revenue decreased by 1.7% or $19 million. Adjusted EBITDA decreased 6%, compared with a very good performance in Q2 '25, as continued strength in Scandinavia and a favorable foreign exchange impact was offset by weaker performance in South Africa, the Netherlands and Spain. On a like-for-like basis, adjusted EBITDA decreased $4 million. Finally, Diversified Americas delivered another strong result this year. Revenue increased 14%, driven primarily by higher volumes in North American business, particularly kiwi, avocados and North American cherries, together with more positive season-end pricing for our Southern Hemisphere export business. Adjusted EBITDA increased by $5.2 million to $20.6 million, driven by a strong performance in our North American business together with the continued benefits of the partial restructuring of our berry operations in the fourth quarter of 2025. Turning to Slide 16 for a view of key cash items and net leverage. Capital expenditure was circa $25 million, including investments designed to support future growth, expand capacity and improve operating efficiency. For full year 2026, we are maintaining our guidance for routine CapEx of approximately $100 million. As expected, working capital remained an outflow during the first half of the year, reflecting the normal seasonal profile of the business. However, as discussed in our Q1 call, first half free cash flow significantly improved compared to the prior year. Net debt in the quarter was impacted by the first step of the Ecuador port sale transaction. As part of that transaction, we completed a pre-closing ownership restructuring in May, acquiring the remaining minority interest in the port business. The second and final step closed on July 1, and the associated proceeds will be recognized in the third quarter. Overall, net proceeds are now expected to be approximately $95 million. We ended the quarter with net debt of $746 million and net leverage of 2x. Reflecting the completion of the Ecuador port sale on July 1 and the expected net proceeds of approximately $95 million, pro forma net leverage would have been approximately 1.6x at quarter-end. This remains a conservative level of leverage and provides us with significant flexibility as we continue to execute our capital allocation strategy. Now I will hand you back to Rory, who will provide an update on our outlook for 2026. Rory Byrne: Thank you, Jacinta. So looking beyond the quarter, we are very encouraged with the strength and diversity of our portfolio, the quality of our market positioning and the strategic progress achieved during the first half of the year. So we move into the second half, fuel and shipping costs remain elevated and geopolitical developments continue to create uncertainty. While some of the sharp cost increases experienced during the second quarter appear to be moderating, the operating environment is still complex. Consumer demand across our key markets has remained resilient, supported by long-term health and wellness trends. We also expect to benefit from contractual pricing mechanisms and cost-saving initiatives in Fresh Fruit, the effectiveness of our dynamic pricing model across the diversified businesses, and positive returns from recent investments and development activity. Taking all these factors together, we are targeting full year adjusted EBITDA of approximately $400 million for 2026. And with that, I'll hand you back to the operator to open the line for questions. Operator: [Operator Instructions] Your first question comes from the line of Christopher Barnes with Deutsche Bank. Christopher Barnes: First, I guess, could we just start on the EBITDA guidance? I know now it's approximately $400 million, down from at least $400 million before. But I just want to get more perspective on what you're expecting for the second half. Last quarter you mentioned that the second half would always be the stronger half for the year given the pricing, fuel surcharge recoveries and other opportunities to take out cost division by division. But I guess, are you able to size in the second quarter how much of a headwind was these fuel costs versus recovery mismatch this quarter? And as we sit here today, how should we think about those benefits in 3Q relative to higher fuel logistics costs and other inflationary pressures you might be incurring currently? Rory Byrne: Okay, Christopher. Yes, I mean, I think the main problem we've got here is that it's just such a difficult backdrop in which to predict anything. Certainly, if you look at the world, you look at the general impact on fuel prices and fertilizer prices, knock-on effects to inflation, consumer impacts, I think there's an overwhelming incentive around the world to try and solve this issue. But it's dragging on longer than we would have liked, and that obviously had some impact on our ability to get clear visibility over the back half of the year. We've put all the factors into the mix. We do have fuel surcharges that come in a quarter in arrears. They will -- we will see the benefit of that flow through in Q3. And then with the way pricing has been, I feel likely to be the same -- similar benefit in Q4. Some negative impact in Europe where fuel has been a little bit higher versus what we would have liked it to have been, but there's some offsets and ups and downs. So I think really just, Christopher, just the backdrop for being very precise about forecasts, it just remains so complex. But if we can achieve a $400 million EBITDA outcome with all of the challenges that are being thrown at us at the moment, I think it will be a pretty satisfactory outcome for the full year. And we expect that to be split across Q3 and Q4. Christopher Barnes: Understood. And just switching gears, how are your scenario-planning around potential disruption related to a super El Niño on your banana and pineapple businesses? I know in the past you've mentioned improved irrigation for some of the drought-prone areas and better drainage where flooding might occur. But any perspective on contingency plans in place at your own farms or those where you're sourcing from would be helpful. And if you're willing to offer any insight into how protected or exposed the broader industry might be, that also would be helpful. Rory Byrne: Johan will deal with that, Christopher. Johan Linden: Yes, Christopher. Firstly, you mostly actually answered the question yourself, which is good, we appreciate that. But remember, weather is not new to us. We farm in the tropics. Managing weather is what we do every day. And also, this event is building. We don't know any potential or how potentially strong it will be. It's just starting to build as we are speaking. However, also the pattern is well understood. Ecuador will get more rain, Ecuador and northern Peru. Central America and Colombia will be drier. And we have been building resilience to this for a long period of time. Not only us, but also the industry as a whole. But we've been building resilience by expanding irrigation in areas that are likely to be more dry. We've been building dikes and drainages in areas that are likely to be more impacted by rain. We elevate up pump stations so they're not at flood levels. And also if you take some of the other products, not talking about bananas and pineapples, but if you take grapes or if you take berries, which we are not as exposed to as bananas and pines, the farmers that we're working with are experimenting with new varieties that are more tolerant to drought and to weather overall, to drought and rain. On top of that, we are building our portfolio when it comes to being diversified. So we have a lot of the volumes south of the equator as well as north of the equator. So when you put all this together, we are keeping an eye on it, but we are not losing sleep on it right now, Christopher. Operator: Your next question comes from the line of Gary Martin with Davy. Gary Martin: Just a few questions on my side. I'll start with the capital allocation just to begin with, and I'm cognizant that you bought back shares during the quarter. How do you think about just general capital allocation into the future and just kind of weighing the different return differentials between choices of capital usage, be it more organic investments in the Scandinavian area versus buybacks versus other potential M&A? How do you kind of think about the whole picture? That's my first question. Rory Byrne: Yes, Gary. I mean, I think as always in the question of capital allocation, we do take a very dynamic approach to it. So I think the dividend is well established, and we've held our dividend at a decent level. It gives an acceptable yield. Most of our shareholders are happy with that. And there clearly are some small bolt-on acquisitions that very obviously give the right level of return compared to buybacks. We have some development CapEx. And I suppose if you look at Scandinavia, it's a combination of a small acquisition that gave us a strong platform. It's a smallish business, some $250 million revenue business, but has a very attractive facility that we believe we can utilize much better for the future development of our business. Over the last while, we've enhanced our investment at the production side and strengthened our position in production JVs. Across our European business, we've been upgrading our ripening facilities in Ireland, in France, in Spain, normal growth, small add-on developments, all part and parcel of the ongoing and continuing and successful development of the Group. So I think we look at everything. We look at the investment return opportunities. We obviously look at the interest rate environment that's out there at the moment. We look at our free cash flow development from our business. And we make some variable judgments around all of those factors. We've carried out an element on the buyback program. I think since we announced it last November, something like a $15 million buyback so far with a consistent dividend. So the return to shareholding, we think, is sensible and reasonable. But it's a dynamic process. I think -- we had flagged obviously the Scandinavia investment, which is probably one of the, longer term, more significant uses of the Ecuador very strong $95 million net proceed outcome as well. So I hope that covers it, Gary. Gary Martin: I do have a part two, Rory, just on your answer there, just around the general returns profile, I will say some of that organic investments in Scandinavia. I know that you called out AI and automation spend in particular. I mean how does that shift premium to the overall average of Dole right now? Like is it materially higher in terms of the opportunity set? Rory Byrne: Yes. I mean our business is not one where we've quantum-leaped growth by making investments. We have a target level of return. And I guess the easiest way to look at it is we measure what our return would be against buybacks, and we try to ensure that our investments get a return that's a reasonable premium to that return. And we would like to grow the business, we'd like to develop the business. So we think there are interesting elements across, particularly in Scandinavia, where we will go to a further level of automation in conjunction with some of our key customers in that area where we will utilize the latest robots, picking technology, will utilize the latest AI developments that are there and improve the efficiencies and strengthen both the profitability and our long-term positioning with our key customers in that marketplace and hopefully get the right return to enhance shareholder value over the long term as well. Gary Martin: That makes sense. And maybe just to ask a different kind of line of questioning, just around the revenue performance in the quarter and just expectations for the back half in particular. Just one for Diversified North America in particular, it's been several very strong quarters now in a row. Are we expecting moderation at any point here? Was some of the performance, was it kind of timing based in Q2 and should we expect that to moderate in the back half? Rory Byrne: We're not expecting any radical moderation in the back half of the year. I mean we have had a pretty strong run in that division, fair wind in terms of the way seasons have fallen. So no radical shifts. But there can be a few, as you know, Gary, few ups and downs. But overall, we're very satisfied with that division. Gary Martin: And then just on Diversified EMEA and Rest of the World. It was a reasonably kind of flat to slightly negative revenue growth quarter. I'd just be curious just on a kind of pricing pass-through perspective. Was much of the -- like was a lot of the headwinds just the weakness in South Africa or it was some of the price pass-through and knock-on elasticity? Or what's the best way to think about it? Rory Byrne: I think there's a couple of factors. I mean, I think if we go back to last year, we had a very strong increase in EMEA. And we called it out as exceptionally strong. So to try and repeat that was always going to be a bit challenging. But I think the single biggest factor is our South African business. It is the business that has the single biggest exposure to the marketplace in the Middle East. So it has quite a strong customer base in that region. And the magnitude of disruption that took place, particularly during the early part of the war issues, was radical where your shipping in its entirety stopped, reorganizing shipping. In the main, across the remainder of that division, it takes a little bit -- there's a little bit of a time lag to try and reflect the price changes. But in the main, we've been able to adjust the dynamic pricing, as we have always been able to do within that division. And South Africa really was our standout issue. Gary Martin: That makes sense. And then just to top it off, I'll cover Fresh Fruit here just from a revenue growth perspective as well. There's one piece in particular that I'd be interested in, and that's the negative volume print in North America on the banana side. Is there anything that you'd call out in particular there? I know you kind of gave a bit of color in the prepared remarks, but are you seeing any demand attrition here in the U.S.? Rory Byrne: I don't think so. And maybe Johan could give a little more flavor around that. Johan Linden: Yes. No, we see demand holding stable in North America. We -- because of weather, pine volumes were down overall in the industry, that impacts it. And we've been careful when it comes to just protecting price in negotiations. That's it. Volume overall in the market is good, demand good, consumers still loving the products. Gary Martin: Very good. Just one final one for me then, maybe it's one for Jacinta in particular, just around the first half's operating cash flow performance back a bit. I'd just be curious just kind of the way to think about net debt at year-end or just the kind of general moving parts around the puts and takes of H2 operating cash flow performance, will be really useful. Jacinta Devine: Yes, Gary. Yes, as you recall, we are -- we always have an operating outflow in Q1 and Q2, and then typically experience a significant inflow in the second half. And we expect a very similar cadence to -- for this year. So far -- I mean, last year, we had lower operating cash flows, but this year, we expect it to be more normalized. And so far, that's the way it's played out. I mean in terms of our net debt at the end of the year, obviously, we've got the benefits of the port proceeds now. So yes, we would expect leverage and net debt to be down at the end of the year. Hard to predict, but I'm guessing south of 1.5x in terms of leverage. Operator: Your next question comes from the line of Pooran Sharma with Stephens. Pooran Sharma: Rory, I wanted to kind of get at something you had said earlier in relation to guidance. I think you said 3Q and 4Q split for Fresh Fruit, and I wanted to just confirm that. Because I know in the past, seasonally, margins seem to wane from 3Q to 4Q. But I think last year, the business was facing pressure starting in the back half of the year. And so are we expecting the margins to be kind of similar through 3Q and 4Q and not exhibit that seasonality like we've seen in the past? Rory Byrne: Yes. I mean we've gone -- thanks for the question. I mean we've -- over the last year, certainly, the world circumstances have been a little bit different, and there's a few factors. I guess last year, in the back half of the year in particular, there's a whole range of unusual dynamics around short production in Honduras, short production in Panama, a huge increase in the cost of fruit coming out of Ecuador, which tends to be the safety valve and the impact of that certainly had a strong impact on our back half of the year last year. We're not expecting that dynamic to repeat in Q3 and Q4. And on top of that then, we see the delayed benefit coming in from our specific contractual adjustments around bunker fuel surcharge. So yes, we do expect the margin dynamic in Q3 and Q4 in Fresh Fruit to be different to Q3 and Q4 of last year. Pooran Sharma: Okay. Great. I appreciate that clarification there. And then just on the follow-up, I just want to zoom out and think about the Fresh Fruit business. I think in the past this has been described as a 5% to 6% EBITDA margin business over time. And I just want to think about the changes in sourcing, freight, just some of your own production footprint over the last couple of years. Wanted to ask you if you feel like this is an appropriate normalized margin rate and what you think it would take to get back to this level. Rory Byrne: Yes, we'd like it to be a little bit higher, and our aspiration internally is to try and push up a little bit higher. Over the last few years, I suppose Honduras was the biggest single impact that affected us at the end of '24 and '25. That production is coming back on stream. And that, generally speaking, because of the way it links in with our logistics and shipping structure, the cost of production on Honduras tends to give us a particular advantage that goes to margin. And we've invested, as I highlighted earlier, in a couple of production JVs, particularly in Guatemala. We've invested a little bit in plantains. I think pineapple margin as well within that has been under a bit of pressure just with some short-term climatic issues that affected the production and quality, sizing yields in pineapples in the short term. But that happens periodically and tends to balance out. So we certainly could do with the world being a bit more calmer and the volatility around fuel prices, shipping prices, et cetera, a little bit helpful. But with a bit of a fair wind, the world would settle down on some of those production issues and we'll see the benefit coming through and try and push back up the margin a little bit to what our normal aspiration should be. Operator: There are no further questions at this time. I will now turn the call back to Rory Byrne, CEO, for closing remarks. Rory Byrne: Thank you. Yes. Well, I think we're very pleased with the progress the business has made during the first half of the year. No doubt that the operating environment remains complex. Our teams are continuing to execute well against the backdrop of a difficult environment. Our strategic priorities remain very clear. And we're focused on delivering sustainable long-term value for our shareholders. Really would like to thank all of our employees right across the Group for their continued dedication and hard work to the Group, as well as to our shareholders, customers and suppliers for their ongoing support. So thank you all for joining us today and for your continued interest and support of Dole plc. Thank you very much. Operator: This concludes today's call. Thank you for attending. You may now disconnect. Before you buy stock in Dole Plc, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dole Plc wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Dole (DOLE) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Dole plc DOLE reported second-quarter 2026 adjusted earnings per share of 46 cents, down 16.4% from 55 cents in the year-ago quarter and below the Zacks Consensus Estimate of 50 cents. Revenues increased 2.9% year over year to $2.5 billion but missed the consensus estimate of $2.52 billion.The company’s diversified fresh produce portfolio helped offset pressure in Fresh Fruit, where higher sourcing, fuel and shipping costs weighed on profitability. Diversified Fresh Produce - Americas & ROW delivered strong growth, with revenues rising 13.9% to $440.1 million and adjusted EBITDA increasing 33.8% to $20.6 million.Dole’s shares have lost roughly 6% during yesterday's trading session, due to soft quarterly results. This Zacks Rank #3 (Hold) company’s shares have fallen 9.4% in the past three months, wider than the industry’s 6.4% decline. Image Source: Zacks Investment Research Dole’s second-quarter revenue growth reflected positive operational performance and favorable foreign currency translation. On a like-for-like basis, revenues increased 1.7%, or $40.7 million, as the company continued to see resilient consumer demand for fresh produce.Gross profit declined 10.5% year over year to $195.3 million as cost of sales increased at a faster rate than revenues. Operating income decreased 54% to $47.5 million from $103.2 million, pressured by lower gross profit, higher selling, marketing, general and administrative expenses, a non-recurring legal settlement charge and lower gains from asset sales compared with the prior-year period. Fresh Fruit revenues were $972.8 million, broadly unchanged from the prior year. Higher banana volumes in Europe and stronger underlying banana pricing in North America were offset by lower banana volumes in North America and weaker pineapple volumes due to adverse weather conditions.Fresh Fruit adjusted EBITDA declined 30.9% to $50.3 million, primarily due to higher fruit sourcing costs, elevated shipping costs, increased pineapple growing costs and the continued appreciation of the Costa Rican Colon against the U.S. dollar. Dole PLC price-consensus-eps-surprise-chart | Dole PLC Quote Diversified Fresh Produce - EMEA generated revenues of $1.1 billion, up 1% year over year, driven by favorable foreign currency movements and underlying growth in Scandinavia. This was partially offset by lower revenues in Spain. Adjusted EBITDA decreased 6.2% to $45.9 million as weaker results in South Africa, the Netherlands and Spain outweighed strength in Scandinavia.Diversified Fresh Produce - Americas & ROW remained a key contributor to results. Revenues increased 13.9% year over year, supported by higher volumes in North America, particularly kiwi, avocados and cherries, along with positive season-end pricing adjustments in the Southern Hemisphere export business. Adjusted EBITDA increased 33.8% year over year to $20.6 million. Dole continued to advance its capital allocation plans during the quarter. The company completed the Ecuador port sale after quarter-end, generating expected net proceeds of about $95 million. The transaction is expected to strengthen financial flexibility.Net debt was $746.1 million at the end of the quarter, while net leverage stood at 2.0x. Capital expenditures totaled approximately $42.5 million during the six months of 2026, with investments focused on future growth, capacity expansion and operating efficiency. For 2026, Dole continues to expect routine capital expenditures of approximately $100 million.The company also repurchased 719,290 shares during the quarter for $10 million at an average price of $13.88 per share. As of June 30, 2026, $85.4 million was available for repurchase under its repurchase program.On Aug. 7, 2026, the company’s board declared a cash dividend for the second quarter of 2026 of $0.085 per share, payable Oct 7, 2026, to shareholders of record as of Sept. 16, 2026. Dole projected its 2026 adjusted EBITDA of approximately $400 million. Management expects the operating environment to remain complex due to elevated fuel and shipping costs, and ongoing geopolitical uncertainty.The company expects benefits from fuel surcharge recoveries, cost-saving initiatives in Fresh Fruit, dynamic pricing across diversified businesses and returns from recent investments. Management also highlighted plans to invest in automation, Artificial Intelligence and warehouse solutions in Scandinavia following the acquisition of Greenfood’s Fresh Produce division. Darling Ingredients Inc. DAR, which is a global developer and producer of sustainable natural ingredients, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Darling Ingredients' current financial-year sales indicates growth of 12.4% from the prior-year level. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.United Natural Foods UNFI, which is the leading distributor of natural, organic and specialty food and non-food products, currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for United Natural Foods’ current financial-year sales indicates a drop of 2.1% from the prior-year level. UNFI delivered a trailing four-quarter earnings surprise of 29.9%, on average.Medifast, Inc. MED, which is a leading manufacturer and distributor of clinically-proven healthy living products and programs, currently carries a Zacks Rank of 2. MED missed the average earnings surprise by a sharp margin in the trailing four quarters. The Zacks Consensus Estimate for Medifast’s current financial-year sales indicates a decline of 25.9% from the year-ago number. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dole PLC (DOLE) : Free Stock Analysis Report Darling Ingredients Inc. (DAR) : Free Stock Analysis Report United Natural Foods, Inc. (UNFI) : Free Stock Analysis Report MEDIFAST INC (MED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

DUBLIN, August 10, 2026--(BUSINESS WIRE)--Dole plc (NYSE: DOLE) ("Dole" or the "Group" or the "Company") today released its financial results for the three and six months ended June 30, 2026. Second Quarter Highlights: Revenue increased 2.9%, reflecting positive momentum across the Group Profitability impacted by anticipated Fresh Fruit cost pressures Strong performance in Diversified Fresh Produce - Americas & ROW partially offset lower result in Fresh Fruit, demonstrating resilience of our business model Development pipeline advanced while maintaining disciplined approach to capital allocation Post quarter end: completed sale of port in Ecuador for expected net proceeds of approximately $95 million; completed acquisition of Greenfood Fresh Produce division in Scandinavia Financial Highlights Commenting on the results, Carl McCann, Executive Chairman, said: "The successful completion of the Ecuador port sale post quarter end for net proceeds of approximately $95 million supports our continued investment in growth opportunities, including recent acquisitions in EMEA. We are pleased to deliver a second quarter result in line with our expectations. The quarter once again demonstrated the resilience of our diversified business model and our ability to navigate a challenging operating environment as we target full-year Adjusted EBITDA of approximately $400 million for 2026." Group Results - Second Quarter Revenue increased 2.9%, or $71.0 million, primarily due to positive operational performance in the Diversified Fresh Produce - Americas & ROW segment and a favorable impact from foreign currency translation of $30.3 million. On a like-for-like basis2, revenue increased 1.7%, or $40.7 million. Gross Profit decreased $23.0 million, primarily due to higher cost of sales which were impacted by higher fruit sourcing costs in the Fresh Fruit segment, partially offset by higher revenue. Operating Income decreased $55.7 million primarily due to lower Gross Profit, higher SMG&A expenses primarily due to a non-recurring charge associated with the settlement of a historical legal matter and some restructuring costs, and higher gains on asset sales in the prior year following the sale of land in Hawaii. Other income increased year over year, primarily reflecting favorable fair value adjustments on financial instruments. Net Income increased to $35.1 million from $18.0 million in the prior year. The prior year was impacted by a loss of $35.0 million in discontinued operations (Fresh Vegetables). The year over year increase also reflected higher other income, lower interest expense and lower tax expense, partially offset by lower Operating Income. Adjusted EBITDA decreased 14.8%, or $20.4 million, primarily driven by higher fruit sourcing costs in the Fresh Fruit segment, partially offset by good performance in the Diversified Fresh Produce - Americas & ROW segment, as well as a favorable impact of foreign currency translation of $1.4 million. Adjusted Net Income decreased 17.7%, or $9.4 million, predominantly due to the decrease in Adjusted EBITDA noted above, partially offset by lower tax expense and interest expense. Adjusted Diluted EPS for the three months ended June 30, 2026 was $0.46 compared to $0.55 in the prior year. Selected Segmental Financial Information Second Quarter Segmental Commentary Fresh Fruit Revenue of $972.8 million is in line with prior year. Higher volumes of bananas sold in Europe and higher underlying banana pricing in North America were partially offset by lower banana volumes in North America. Pineapple volumes were lower across all markets, primarily due to adverse weather conditions affecting fruit availability. Adjusted EBITDA decreased 30.9%, or $22.5 million, primarily driven by higher fruit sourcing costs, elevated shipping costs in both European and North American markets due to higher fuel costs, higher pineapple growing costs resulting from adverse weather conditions, as well as the continued strengthening of the Costa Rican Colón against the U.S. Dollar. Diversified Fresh Produce – EMEA Revenue increased 1.0%, or $10.6 million, primarily due to the favorable impact of foreign currency translation of $29.9 million, as a result of the strengthening of the Swedish krona and euro against the U.S. Dollar, as well as underlying growth in Scandinavia partially offset by lower revenue in Spain. On a like-for-like basis, revenue decreased 1.7%, or $19.2 million. Adjusted EBITDA decreased 6.2%, or $3.1 million, primarily due to weaker performance in South Africa, the Netherlands and Spain. These decreases were partially offset by a favorable impact of $1.5 million from foreign currency translation, as well as strong performance in Scandinavia. On a like-for-like basis, Adjusted EBITDA decreased 8.2%, or $4.0 million. Diversified Fresh Produce – Americas & ROW Revenue increased 13.9%, or $53.8 million, primarily driven by higher volumes in our North America business, both from seasonal timing benefits with North American cherries and by good underlying growth in key products including kiwi and avocados. There was also higher revenue in our southern hemisphere export business due to positive season end pricing adjustments. Adjusted EBITDA increased 33.8%, or $5.2 million, driven by a strong performance in our North American business, driven both by positive volume growth in kiwi and avocados and seasonal timing differences in cherries, as well as the continued benefit of the partial restructuring of our berry operations in the fourth quarter of 2025. Capital Expenditures Cash capital expenditures for the six months ended June 30, 2026 were $42.5 million. Expenditures included farming investments in Latin America, investments in distribution facilities and ripening rooms in Europe, as well as other machinery and equipment related to blueberry and avocado packing in Europe. Free Cash Flow from Continuing Operations, Net Debt and Net Leverage Free cash flow from continuing operations was an outflow of $51.0 million for the six months ended June 30, 2026, compared to an outflow of $132.6 million in the prior year. The improvement in free cash flow was due to lower seasonal working capital outflows and lower capital expenditures in the current year. Net Debt and Net Leverage as of June 30, 2026 was $746.1 million and 2.0x, respectively. Net debt at quarter end was impacted by the first step of the Ecuador port sale transaction. As part of the transaction, the Company completed a pre-closing ownership restructuring in May, acquiring the remaining minority interest in the port business. The second and final step, the sale of the port business, closed on July 1, 2026 and the associated proceeds will be reflected in third quarter Net Debt and Net Leverage. The cumulative net cash proceeds of the Ecuador port sale transaction are expected to be approximately $95.0 million, including the pre-closing ownership restructuring, cash taxes to be paid and other transaction related costs. Dividend On August 7, 2026, the Board of Directors of Dole plc declared a cash dividend for the second quarter of 2026 of $0.085 per share, payable on October 7, 2026 to shareholders of record on September 16, 2026. A cash dividend of $0.085 per share was paid on July 8, 2026 for the first quarter of 2026. Share Repurchase Program During the quarter, we repurchased 719,290 shares at an average price of $13.88 per share, totaling $10.0 million. For the six months ended June 30, 2026, we repurchased 1,025,660 shares at an average price of $14.25 per share, totaling $14.6 million. As of June 30, 2026, $85.4 million remained available for repurchase under the share repurchase program. Outlook for Fiscal Year 2026 (forward-looking statement) As we move into the second half of the year, fuel and shipping costs remain elevated and geopolitical developments continue to create uncertainty. While some of the sharp cost increases experienced during the second quarter appear to be moderating, the operating environment remains complex. Consumer demand across our key markets has remained resilient, supported by long-term health and wellness trends. We also expect to benefit from contractual pricing mechanisms and cost saving initiatives in Fresh Fruit, the effectiveness of our dynamic pricing model across the Diversified businesses, and positive returns from recent investments and development activity. Taking these factors together, we are targeting full-year Adjusted EBITDA of approximately $400 million for 2026. We continue to expect routine capital expenditures of approximately $100 million and interest expense of approximately $58 million for the full year. Footnote Index Refer to the Appendix of this release for an explanation and reconciliation of non-GAAP financial measures used in this release to comparable GAAP financial measures. Like-for-like basis refers to the measure excluding the impact of foreign currency translation movements and acquisitions and divestitures. Refer to the Appendix and "Supplementary Reconciliation of Prior Year Segment Results to Current Year Segment Results" for further detail on these impacts and the calculation of like-for-like basis variances About Dole plc A global leader in fresh produce, Dole plc produces, markets, and distributes an extensive variety of fresh fruits and vegetables sourced locally and from around the world. Dedicated and passionate in exceeding our customers’ requirements in over 85 countries, our goal is to make the world a healthier and a more sustainable place. Webcast and Conference Call Information Dole plc will host a conference call and simultaneous webcast at 08:00 a.m. Eastern Time today to discuss the second quarter 2026 financial results. The webcast can be accessed at www.doleplc.com/investor-relations or directly at https://events.q4inc.com/attendee/911565068. Forward-looking information Certain statements made in this press release that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management’s beliefs, assumptions, and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. The words "believe," "may," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive," "target" or similar words, or the negative of these words, identify forward-looking statements. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates, or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Accordingly, there are, or will be, important factors that could cause our actual results to differ materially from those indicated in these statements. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made except as required by the federal securities laws. Appendix Condensed Consolidated Statements of Operations - Unaudited Condensed Consolidated Balance Sheets - Unaudited Condensed Consolidated Statements of Cash Flows - Unaudited Reconciliation from Net Income to Adjusted EBITDA - Unaudited The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Refer to the following pages for supplementary reconciliations on these items. Supplemental Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Supplemental Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Supplemental Reconciliation of Prior Year Segment Results to Current Year Segment Results – Unaudited Net Debt and Net Leverage Reconciliation – Unaudited Net Debt is the primary measure used by management to analyze the Company’s capital structure. Net Debt is a non-GAAP financial measure, calculated as cash and cash equivalents, less current and long-term debt. It also excludes debt discounts and debt issuance costs. Net Leverage is calculated as total Net Debt divided by Last Twelve Months ("LTM") Adjusted EBITDA as of the period end. The calculation of Net Debt and Net Leverage as of June 30, 2026 is presented below. Net Debt as of June 30, 2026 was $746.1 million and Net Leverage was 2.0x. Free Cash Flow from Continuing Operations Reconciliation – Unaudited Non-GAAP Financial Measures Dole plc’s results are determined in accordance with U.S. GAAP. In addition to its results under U.S. GAAP, in this Press Release, we also present Dole plc’s Adjusted EBIT, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow from Continuing Operations, Net Debt and Net Leverage, which are supplemental measures of financial performance that are not required by, or presented in accordance with, U.S. GAAP (collectively, the "non-GAAP financial measures"). We present these non-GAAP financial measures, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our operating results, cash flows or any other measure prescribed by U.S. GAAP. Our presentation of non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by any of the adjusted items or that any projections and estimates will be realized in their entirety or at all. In addition, adjustment items that are excluded from non-GAAP results can have a material impact on equivalent GAAP earnings, financial measures and cash flows. Adjusted EBIT is calculated from GAAP net income by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding the income tax expense or subtracting the income tax benefit; (3) adding interest expense; (4) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (5) other items which are separately stated based on materiality, which during the three and six months ended June 30, 2026 and June 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held for sale classification losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, subtracting interest income on deferred transaction consideration, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the ordinary course of business and adding debt refinancing expenses; and (6) the Company’s share of these items from equity method investments. Adjusted EBITDA is calculated from GAAP net income by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding the income tax expense or subtracting the income tax benefit; (3) adding interest expense; (4) adding depreciation charges; (5) adding amortization charges on intangible assets; (6) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (7) other items which are separately stated based on materiality, which during the three and six months ended June 30, 2026 and June 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held-for-sale losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, subtracting interest income on deferred transaction consideration, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the normal course of business and adding debt refinancing expenses; and (8) the Company’s share of these items from equity method investments. Last Twelve Months ("LTM") Adjusted EBITDA is calculated as Adjusted EBITDA, as defined above, for the last twelve months as of the period end, which for the six months ended June 30, 2026, is calculated as subtracting the Adjusted EBITDA for the six months ended June 30, 2025 from the Adjusted EBITDA for the year ended December 31, 2025 and then adding Adjusted EBITDA for the six months ended June 30, 2026. LTM Adjusted EBITDA for the year ended December 31, 2025 is the same as Adjusted EBITDA for the year ended December 31, 2025. Adjusted Net Income is calculated from GAAP net income attributable to Dole plc by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding amortization charges on intangible assets; (3) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (4) other items which are separately stated based on materiality, which during the three and six months ended June 30, 2026 and June 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held for sale classification losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the ordinary course of business and adding debt refinancing expenses; (5) the Company’s share of these items from equity method investments; (6) excluding the tax effect of these items and discrete tax adjustments; and (7) excluding the effect of these items attributable to non-controlling interests. Adjusted Earnings per Share is calculated from Adjusted Net Income divided by diluted weighted average number of shares in the applicable period. Net Debt is a non-GAAP financial measure, calculated as GAAP cash and cash equivalents, less GAAP current and long-term debt. It also excludes GAAP unamortized debt discounts and debt issuance costs. Net Leverage is a non-GAAP financial measure, calculated as Net Debt divided by LTM Adjusted EBITDA, both of which are defined above. Free cash flow from continuing operations is calculated from GAAP net cash used in or provided by operating activities for continuing operations less GAAP capital expenditures. Like-for-like basis refers to the U.S. GAAP measure or non-GAAP financial measure excluding the impact of foreign currency translation movements and acquisitions and divestitures. The impact of foreign currency translation represents an estimate of the effect of translating the results of operations denominated in a foreign currency to U.S. Dollar at prior year average rates, as compared to current year average rates. Dole is not able to provide a reconciliation for projected FY'26 results without taking unreasonable efforts. Category: Financial View source version on businesswire.com: https://www.businesswire.com/news/home/20260810083577/en/ Contacts Investor Contact: James O'Regan, Head of Investor Relations, Dole [email protected] +353 1 887 2794 Media Contact: Brian Bell, [email protected] +353 87 2436 130

Interested in Dole PLC? Here are five stocks we like better. Dole’s second-quarter revenue rose 2.9% to $2.5 billion, but profitability weakened: net income fell to $35.1 million, adjusted EBITDA declined to $117 million and adjusted EPS dropped to $0.46. Higher fuel, shipping and fruit-sourcing costs pressured the Fresh Fruit segment, while Diversified Americas delivered strong growth, with revenue up 14% and adjusted EBITDA increasing to $20.6 million. Dole maintained its 2026 adjusted EBITDA target of approximately $400 million and expects leverage to fall below 1.5 times by year-end following the $95 million Ecuador port sale and improved cash flow. Carving Up Profits: 3 Food Stocks on the Thanksgiving Table Dole (NYSE:DOLE) reported second-quarter revenue growth but lower profitability as elevated fuel, shipping and fruit-sourcing costs weighed on its Fresh Fruit segment. Management said consumer demand for fresh produce remained resilient, while Diversified Americas continued to provide an offset to pressure in bananas and pineapples. Group revenue totaled $2.5 billion, up 2.9% on a reported basis and 1.7% higher on a like-for-like basis excluding foreign exchange effects, Chief Financial Officer Jacinta Devine said. Net income from continuing operations fell to $35.1 million from $52.9 million in the prior-year period. Adjusted EBITDA declined $20.4 million to $117 million, while adjusted diluted earnings per share were $0.46, compared with $0.55 a year earlier. → MarketBeat Week in Review – 08/03 - 08/07 Dole is a Tasty Low Hanging Treat for Value Hunters Chief Executive Officer Rory Byrne said second-quarter results were in line with the company’s expectations, reflecting the impact of higher fuel and shipping costs associated with the conflict in the Middle East. He said the diversified business model helped mitigate those effects, particularly the performance of Diversified Americas. Fresh Fruit revenue was broadly unchanged from the prior year at $972.8 million. Higher banana volumes in Europe and higher underlying pricing in North America were partly offset by lower North American banana volumes and lower pineapple volumes across markets. → Quantum Earnings Week: Winners and Losers Are Finally Emerging Dole plc Has Tough Time With Systemic Headwinds Fresh Fruit adjusted EBITDA fell $22.5 million to $50.3 million. Devine attributed the decline to elevated fuel and shipping costs, higher fruit-sourcing costs, increased pineapple growing costs and continued depreciation of the Costa Rican colon. Byrne said banana volumes were strong in Europe, where pricing was broadly in line with the previous year. North American banana volumes were lower due to market conditions and the company’s focus on “disciplined profitability,” although underlying pricing was slightly higher. Pineapple availability was affected by weather, while the Costa Rican currency created additional pressure on profitability. → Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War Looking ahead, management expects Fresh Fruit performance in the second half to improve relative to the prior year through contractual pricing mechanisms, including variable fuel surcharges, as well as production, sourcing and cost-saving initiatives. Byrne said surcharges operate with a quarter’s delay and should benefit third-quarter results, with a similar effect anticipated in the fourth quarter. Diversified Fresh Produce EMEA reported a 1% increase in revenue on a reported basis, aided by foreign exchange and underlying growth in Scandinavia. On a like-for-like basis, however, revenue declined 1.7%, or $19 million. Segment adjusted EBITDA declined 6% from what the company described as a strong second quarter in 2025. Continued strength in Scandinavia and a favorable foreign exchange impact were offset by weaker results in South Africa, the Netherlands and Spain. Byrne said South Africa had the company’s greatest exposure to disruption in the Middle East, including shipping interruptions affecting the region. Diversified Americas posted a 14% increase in revenue, driven largely by higher North American volumes in kiwi, avocados and cherries, along with more favorable season-end pricing for the company’s Southern Hemisphere export business. Adjusted EBITDA increased $5.2 million to $20.6 million, supported by North American performance and benefits from a partial restructuring of berry operations completed in the fourth quarter of 2025. During the question-and-answer session, Byrne said Dole was not expecting “any radical moderation” in Diversified Americas during the second half after its recent run of strong performance, although he noted the business can experience seasonal variation. Dole completed the sale of its Ecuador port business on July 1, generating expected net proceeds of about $95 million. Byrne said the sale was expected to have a negligible impact on ongoing earnings and cash flow while improving the balance sheet and financial flexibility. The company ended the quarter with net debt of $746 million and net leverage of two times. Devine said pro forma leverage, reflecting the completed port sale and expected proceeds, would have been approximately 1.6 times at quarter-end. She said the company expects net debt and leverage to decline by year-end, estimating leverage could finish below 1.5 times. Dole also acquired Greenfood Fresh Produce’s division in Scandinavia at the beginning of July. The acquisition adds a distribution facility in Helsingborg that management said will support plans to invest in warehouse automation, artificial intelligence and robot-picking technology for Scandinavian customers. The company also completed a smaller acquisition in its Irish growing operations during the quarter. In addition, Dole repurchased more than 700,000 shares for $10 million during the quarter. Byrne said the company evaluates buybacks against the potential returns from development projects and acquisitions, while maintaining its dividend. Dole maintained routine capital-expenditure guidance of approximately $100 million for full-year 2026 and said first-half free cash flow improved significantly from the prior year, despite the normal seasonal working-capital outflow in the first half. Management said fuel and shipping costs remain elevated and geopolitical developments continue to create uncertainty, although some of the sharp cost increases seen during the second quarter appear to be moderating. Byrne said the company is targeting full-year adjusted EBITDA of approximately $400 million. Chief Operating Officer Johan Lindén also addressed the potential effects of a developing El Niño event. He said Dole has expanded irrigation in areas that could become drier, while adding drainage, dikes and elevated pump stations in areas more vulnerable to rainfall and flooding. Lindén said the company is monitoring the developing weather pattern but was “not losing sleep on it right now.” Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. The company's product range includes bananas, pineapples, berries, grapes, salads and a variety of other fresh and packaged produce, sold under the Dole brand and through private-label arrangements. Dole's operations span the full fresh-produce value chain, from farming and sourcing to packing, ripening, cold‑chain logistics and wholesale and retail distribution, supporting both retail grocery and foodservice customers. The company traces its commercial heritage to the early 20th century Hawaiian pineapple business founded by James Dole and has evolved through subsequent corporate restructurings and combinations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Dole Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Dole (DOLE) came out with quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.5 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -8.00%. A quarter ago, it was expected that this fresh fruit and vegetable company would post earnings of $0.36 per share when it actually produced earnings of $0.33, delivering a surprise of -8.33%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Dole, which belongs to the Zacks Agriculture - Operations industry, posted revenues of $2.5 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.75%. This compares to year-ago revenues of $2.43 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Dole shares have lost about 7.7% since the beginning of the year versus the S&P 500's gain of 13.3%. While Dole has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Dole was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.27 on $2.37 billion in revenues for the coming quarter and $1.39 on $9.72 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Agriculture - Operations is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Limoneira (LMNR), is yet to report results for the quarter ended July 2026. This agribusiness company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +900%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Limoneira's revenues are expected to be $43 million, down 9.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dole PLC (DOLE) : Free Stock Analysis Report Limoneira Co (LMNR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Dole plc (NYSE:DOLE) shares dropped 5.35% in pre-market trading on Monday after the fresh produce group reported second-quarter earnings and revenue below Wall Street forecasts, as higher fruit sourcing and transportation costs weighed on profitability. For the quarter ended June 30, 2026, Dole recorded adjusted earnings per share of $0.46, falling short of the analyst consensus estimate of $0.51. Revenue increased 2.9% year-on-year to $2.50 billion from $2.43 billion, but narrowly missed Wall Street expectations of $2.52 billion. Despite the increase in revenue, adjusted EBITDA declined 14.8% to $116.8 million from $137.1 million in the corresponding quarter last year. The decline primarily reflected higher fruit sourcing expenses within Dole’s Fresh Fruit division, alongside increased shipping costs caused by higher fuel prices. The company continues to target adjusted EBITDA of approximately $400 million for the full 2026 financial year. “The quarter once again demonstrated the resilience of our diversified business model and our ability to navigate a challenging operating environment,” said Carl McCann, Executive Chairman. McCann also highlighted the completion of Dole’s Ecuador port sale after the end of the quarter, generating net proceeds of approximately $95 million. Performance varied considerably across Dole’s operating businesses during the quarter. Adjusted EBITDA in the Fresh Fruit segment fell 30.9% to $50.3 million, reflecting higher sourcing costs as well as the continued appreciation of the Costa Rican Colón against the U.S. Dollar. Currency movements added further pressure to an operation already facing higher costs for sourcing its core fruit products. However, the Diversified Fresh Produce – Americas & ROW business delivered a considerably stronger performance. Adjusted EBITDA from the division increased 33.8% to $20.6 million, supported by higher sales volumes of kiwi fruit and avocados. The improvement helped partially offset the weaker profitability recorded within Fresh Fruit. Looking across the full year, Dole expects routine capital expenditure of approximately $100 million and interest expense of around $58 million. The company’s approximately $400 million adjusted EBITDA target indicates that management continues to expect its diversified operating model to provide some protection against cost pressures affecting individual parts of the business. Investors nevertheless focused on the second-quarter earnings and revenue misses following Monday’s announcement, sending Dole shares more than 5% lower before the opening bell. While revenue continued to grow and parts of the diversified produce business delivered stronger profitability, higher sourcing and shipping expenses remain an important challenge for margins as Dole progresses through the remainder of 2026. Dole stock price

Dole plc DOLE is slated to report second-quarter 2026 results on Aug. 10, before market open. The company is likely to report a top-line increase when it posts the quarterly results.For revenues, the consensus mark is pegged at $2.5 billion, implying a rise of 3.7% from the year-ago quarter. The Zacks Consensus Estimate for the company’s earnings is pegged at 50 cents per share, which reflects a decline of almost 9% from the year-ago quarter’s figure. The consensus mark has been stable in the past 30 days. In the last reported quarter, the company delivered a negative earnings surprise of 8.3%. Its earnings beat the Zacks Consensus Estimate by 4.9%, on average, in the trailing four quarters. Dole’s quarterly performance is likely to have benefited from strong demand for fresh produce, disciplined pricing actions and improved operational execution. The company is optimizing its vertically integrated supply chain by investing in farming operations, packing facilities, warehouse ripening centers and logistics infrastructure to improve efficiency, product quality and supply reliability.The company is expanding its internal production and diversifying its sourcing network, particularly in Guatemala, to secure a reliable supply of high-quality bananas and plantains while reducing supply-chain risks. It is also investing in high-growth categories such as cherries and citrus by increasing production capacity and upgrading packing operations to meet rising customer demand. Management is also expanding its Diversified Fresh Produce business, which has been a key growth driver and has helped offset volatility in the Fresh Fruit segment. Dole is also streamlining its portfolio through strategic divestitures and pursuing selective acquisitions to sharpen its business focus and expand its geographic footprint. The company continues to invest in value-added infrastructure and operational enhancements while leveraging dynamic pricing strategies to offset rising input, freight and sourcing costs. All the aforesaid endeavors are likely to have bolstered the company’s top-line performance during the quarter under review.On the flip side, the company continues to face cost and operational challenges that are weighing on its near-term performance. Elevated fruit sourcing costs, due to the supply constraints following weather-related disruptions, continue to pressure margins in the Fresh Fruit segment. The company is also contending with higher fuel, freight, fertilizer and packaging costs stemming from the ongoing conflict in the Middle East, which has increased operating expenses and created a more complex business environment. Such factors are likely to have hurt the company’s profitability during the quarter under review. Dole PLC price-eps-surprise | Dole PLC Quote Our proven model does not conclusively predict an earnings beat for Dole this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.Dole currently has an Earnings ESP of 0.00% and a Zacks Rank of 3. Dole has a forward 12-month price-to-earnings ratio of 9.73X, lower than the Agriculture - Operations industry’s average of 14.51X. The stock is trading below its median of 10.18X. Image Source: Zacks Investment Research The recent market movements show that DOLE’s shares have lost 12.1% in the past six months against the industry's 6.6% growth. Here are some companies, which according to our model, also have the right combination of elements to beat on earnings this reporting cycle.The Estee Lauder Companies Inc. EL currently has an Earnings ESP of +2.72% and a Zacks Rank of 2. The consensus estimate for EL’s quarterly revenues is pinned at $3.6 billion, which calls for 4.1% growth from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Estee Lauder’s upcoming quarter’s EPS is pegged at 31 cents, which implies a 244.4% rise year over year. EL delivered a trailing four-quarter earnings surprise of 37.1%, on average.Black Rock Coffee Bar, Inc. BRCB currently has an Earnings ESP of +28.57% and a Zacks Rank of 3. The consensus estimate for BRCB’s quarterly revenues is pinned at $64.2 billion.The Zacks Consensus Estimate for Black Rock Coffee Bar’s upcoming quarter’s EPS is pegged at seven cents. BRCB delivered a negative earnings surprise of 50% in the last reported quarter.Coty COTY has an Earnings ESP of +0.03% and a Zacks Rank of 3 at present. The company is expected to register bottom and top-line declines when it reports fourth-quarter fiscal 2026 numbers. The Zacks Consensus Estimate for COTY’s quarterly bottom line has remained unchanged in the past 30 days at a loss of a cent per share. The consensus mark for earnings indicates an improvement of 80% from the figure reported in the year-ago quarter. The consensus estimate for quarterly revenues is pegged at $1.2 billion, which indicates a drop of 4.8% from the figure reported in the year-ago quarter. COTY has delivered a negative earnings surprise of 214.1%, on average, in the trailing four quarters. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dole PLC (DOLE) : Free Stock Analysis Report The Estee Lauder Companies Inc. (EL) : Free Stock Analysis Report Coty (COTY) : Free Stock Analysis Report Black Rock Coffee Bar, Inc. (BRCB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Mission Produce, Inc. AVO has been navigating a highly volatile avocado market, where pricing swings often have a significant impact on financial performance. While lower avocado prices weighed on reported revenues in the second quarter of fiscal 2026, management continues to emphasize that disciplined pricing, strong customer relationships and its diversified sourcing network help protect profitability across market cycles. Investors are now assessing whether pricing trends can become a stronger earnings catalyst as supply conditions normalize.Mission Produce's fiscal second-quarter results highlighted the downside of weaker pricing. Revenues declined 24% year over year to $290.9 million, primarily because average avocado selling prices fell 36% from the unusually high levels seen a year ago amid abundant Mexican supply. Although avocado volumes increased 15%, the sharp decline in pricing more than offset the volume gains. Management noted that an imbalance in fruit sizes further pressured per-unit margins during April, forcing the company to procure higher-priced fruit while discounting slower-moving inventory. However, AVO indicated that these conditions were temporary and have already begun to improve as sourcing shifts from Mexico to California and Peru.Looking ahead, improving pricing dynamics could provide a meaningful boost to Mission Produce's earnings. Management expects third-quarter avocado prices to remain about 15% below the prior-year level, a much smaller decline than experienced in the first half, while forecasting meaningful improvement in per-unit margins as supply-demand conditions normalize. The company's multi-region sourcing model, expanding Peruvian harvest and recently completed Calavo acquisition are expected to enhance pricing flexibility, improve operational efficiency and support stronger profitability through the second half of fiscal 2026, even if avocado prices remain below last year's elevated levels. Corteva, Inc. CTVA and Dole plc DOLE are strengthening profitability through better product mix, disciplined cost control and operational efficiencies despite challenging industry conditions.Corteva's results continue to benefit from disciplined pricing across its seed and crop protection businesses, even as the broader agricultural market faces softer commodity prices. The company has maintained favorable pricing through a combination of premium seed offerings, differentiated crop-protection products and a strong innovation pipeline, helping offset volume pressures in certain markets. While pricing gains have moderated from the unusually strong levels seen in recent years, management expects continued product mix improvements and the adoption of new technologies to support margins. Combined with ongoing cost-saving initiatives, pricing discipline remains an important driver of Corteva's earnings resilience despite a challenging farm economy.Dole has increasingly relied on pricing actions to mitigate inflationary pressures and rising supply-chain costs across its fresh produce portfolio. Although pricing has supported revenue growth in recent quarters, management continues to balance price increases with consumer demand and competitive market conditions. The company expects a more normalized pricing environment going forward as input-cost inflation eases, placing greater emphasis on operational efficiencies, productivity improvements and supply-chain optimization to sustain margins. Dole's diversified product portfolio and global sourcing capabilities should help it navigate pricing volatility while supporting steady profitability. Shares of Mission Produce have lost 9.6% in the last three months against the industry’s rise of 12.2%. Image Source: Zacks Investment Research From a valuation standpoint, AVO trades at a forward price-to-earnings ratio of 17.73X, significantly above the industry’s average of 16.03X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for AVO’s fiscal 2026 earnings suggests a year-over-year decline of 35.44%, while that for fiscal 2027 indicates growth of 66.7%. The company’s EPS estimates for fiscal 2026 and 2027 have remained stable in the past seven days. Image Source: Zacks Investment Research AVO stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mission Produce, Inc. (AVO) : Free Stock Analysis Report Dole PLC (DOLE) : Free Stock Analysis Report Corteva, Inc. (CTVA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research