Dole raises full-year guidance following solid Q3 performance
International fresh produce leader Dole plc released its financial results for Q3, ending in September. The company reported a positive performance that positions it to deliver "a strong full-year result for 2025."
Among the highlights, Dole's revenue increases 10.5%, while net income decreased to $13.8 million, due to a loss in discontinued operations. Adjusted EBITDA for Q3 2025 was $80.8 million.
“We are pleased to report a good outcome for the third quarter of 2025. Our Diversified Fresh Produce segments delivered excellent results, partially offsetting an anticipated decline in Fresh Fruit in the quarter," said Carl McCann, Dole's Executive Chairman.
Chapman explained that the company's divestiture of its Fresh Vegetables Division (completed in August) provided more flexibility in Dole's capital allocation strategy. This, in turn, allowed the board to authorize a share repurchase program of up to $100 million.
"The momentum within the overall business gives us confidence that our full-year Adjusted EBITDA should be at the upper end of our targeted range of $380 million to $390 million," Chapman added.
Dole's Q3 breakdown
Dole showed a revenue of $2.3 billion. The figure represents an increase of 10.5% which, according to the company, was primarily due to positive operational performance across all segments and a favorable impact from foreign currency translation of $56.1 million. On a like-for-like basis, revenue increased 8.2%, or $169.1 million.
Adjusted EBITDA decreased 1.6%, or $1.3 million, primarily driven by decreases in the Fresh Fruit segment. On a like-for-like basis, Adjusted EBITDA decreased 5.1%, or $4.2 million.
Meanwhile, net income decreased 35.7%, or $7.7 million, to $13.8 million. This decrease was due to a loss of $10.2 million, primarily due to a loss on disposal of the business of $14.7 million ($11.2 million, net of tax).
These decreases were partially offset by insurance proceeds of $10.0 million recognized in the period, increases related to fair value adjustments of financial instruments, and higher earnings in equity method investments.
Adjusted Net Income decreased 16.7%, or $3.0 million, predominantly due to the decreases in Adjusted EBITDA noted above and higher depreciation expense, partially offset by lower tax expense.
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