Dole plc lowered its 2026 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) outlook to $380 million to $390 million from about $400 million, citing rising costs even as an Ecuador port sale helped lift third-quarter net income.
Net income for the three months ended Sept. 30 reached $48.3 million, compared with $13.8 million a year earlier. Operating income increased by $64.7 million. A $48.6 million gain on the port sale, stronger gross profit and lower asset impairment charges contributed to the increase, partly offset by higher selling, marketing, general and administrative expenses.
Revenue grew to $2.366 billion from $2.279 billion, while adjusted EBITDA rose to $84.1 million from $80.8 million. Adjusted net income was $15 million in both quarters, and adjusted diluted earnings per share stayed at $0.16.
Fresh Fruit sales fell 8%. Dole pointed to tariff impacts, fewer banana volumes in North America and weather-related weakness in European pineapple volumes. Greenfood Fresh Produce’s contribution helped Diversified Fresh Produce – EMEA revenue increase 9.3%. Revenue in Diversified Fresh Produce – Americas & ROW advanced 14.1% on higher North American volumes.
Dole continued to cite weather associated with El Niño as a constraint on fruit availability. The company expects European shipping fuel costs to add roughly $16 million against its original 2026 outlook, while North American fuel surcharges partly offset shipping costs. Dole still expects year-over-year improvement in the fourth quarter, but now anticipates a smaller improvement than it did after its second-quarter results.
Dole filed a Form 8-K with the U.S. Securities and Exchange Commission on Nov. 9. The filing lists results of operations and financial condition, Regulation FD disclosure, and financial statements and exhibits; the results release is Exhibit 99.1. The company scheduled a webcast on the results for 8 a.m. ET Monday, Nov. 9.
