Dole Q2 net income falls 80% while revenue goes up 14%
Global fresh produce grower and distributor Dole unveiled its financial results for the second quarter of 2025. In an earnings call, the company announced that thanks to strong sales, it experienced an increase in total gains as well as a dramatic drop in net earnings due to the sale of its Fresh Vegetables division.
The acquisition of Dole's Fresh Vegetable Division resulted in a $35 million loss in discontinued operations for the company, which signifies a 79.6 percent year-over-year decrease in net income, from $70.1 million to $18 million.
The loss included a $50.7 million non-cash fair value adjustment to the division’s carrying value.
Dole sold its Fresh Vegetable Division for $140 million earlier this month to Holdco LLC, the parent company of OrganicGirl LLC, and part of Arable Capital Partners. The purchase includes all operations for both whole produce and salad kits, as well as a workforce of more than 3,000 people.
Despite the decrease in net income, Dole's top-line growth remained strong. During the earnings call, executives announced a 14.3 percent increase in revenue to $2.4 billion, driven by gains across all fresh produce and operational segments. Growth was also boosted by the company's strong performance in the U.K., Spain, Scandinavia, and the Netherlands, as well as the favorable impact of the strong British pound.
Dole Executive Chairman Carl McCann described the company's sale of the division as a significant strategic milestone for the Group. "It will enable us to further concentrate our efforts and investments on our core business activities,” he said.
McCann added that, although the macroeconomic environment remains complex, the company is making an upward revision of its guidance and is targeting full-year adjusted EBITDA in the range of $380 million to $390 million.
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