Dole reports steady Q2 2026 growth driven by diversified operations

Global produce leader Dole is reporting resilient financial performance for the second quarter of 2026. According to the company, the results are aligned with management expectations despite persistent cost pressure in key segments.

For the period ending on June 30, 2026, Dole posted $2.5 billion in revenue, marking a modest three percent increase compared to Q2 2025, and a seven percent hike from the first three months of the year. Net income for the quarter reached $35 million, nearly doubling year-over-year from $18 million, while net income attributable to Dole plc rose sharply over the last 12 months, from $10 million to $26 million.

"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,” explained Dole’s Executive Chairman, Carl McCann, in a press release. 

The executive celebrated the results, saying they reflect the resilience of Dole’s diversified business model and the firm’s ability to navigate a challenging operating environment. 

The Americas drive Dole’s growth

The company's top-line expansion was primarily propelled by strong operational momentum within its Americas and Rest of World division, coupled with a $30 million favorable boost from foreign currency movements. 

On a year-to-date basis, revenue for the first six months of 2026 reached $4.8 billion, up 6.6 percent from $4.5 billion recorded over the same period in 2025.

However, underlying operational profitability experienced a noticeable squeeze. Adjusted EBITDA fell 15 percent year-over-year to $117 million. The company attributed this contraction to elevated fruit sourcing costs, alongside increased ocean shipping and fuel costs. 

Operating income also declined by $56 million compared to the second quarter of 2025, further influenced by lower gross profit and higher selling, marketing, and administrative expenses tied to a non-recurring legal settlement and restructuring charges.

Europe is experiencing headwinds from geopolitical disruptions

Operational performance varied widely across Dole’s three core reporting divisions. 

In the Fresh Fruit segment, revenue held steady at $973 million, practically unchanged year over year. However, segment Adjusted EBITDA fell 31 percent to $50 million. Although European banana sales volumes and North American banana pricing remained strong, the segment faced severe margin pressure from rising fruit sourcing and freight costs, adverse weather that limited pineapple supply, and currency headwinds from a stronger Costa Rican Colón.

Meanwhile, the EMEA Diversified Fresh Produce division saw a modest one percent revenue increase, reaching $1.1 billion, driven by favorable currency exchange rates. Dole reported strong performance across Scandinavian markets, which was unfortunately offset by weaker trading in South Africa, Spain, and the Netherlands, pushing Adjusted EBITDA down 6.2 percent to $46 million.

Providing the strongest relief was the company’s Diversified Fresh Produce Americas and Rest of World segment, where revenue climbed 14 percent to $440 million, while Adjusted EBITDA surged 34 percent to $20.6 million. This performance was driven by key volume gains in avocados and kiwifruit, favorable seasonal timing in the North American cherry crop, and benefits following the restructuring of berry operations in late 2025.

*All images are referential via Shutterstock.

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