Dole plc has reported revenue of US$2.3 billion for the three months ending September 30, 2025, an increase of 10.5% year-on-year (8.2% on a like-for-like basis). The company's third-quarter net income fell to US$13.8 million, mainly due to losses related to the sale of its Fresh Vegetables division. Adjusted EBITDA stood at US$80.8 million, reflecting a decline in the Fresh Fruit segment that was partly offset by stronger performance in diversified fresh produce operations across Europe, the Middle East, Africa, and the Americas.
Net income decreased by 35.7% or US$7.7 million due to a US$10.2 million loss in discontinued operations, which included a US$14.7 million loss on the disposal of the Fresh Vegetables business (US$11.2 million net of tax) and a non-cash fair value charge of US$8.2 million on fixed assets excluded from the sale. These impacts were partially offset by US$10 million in insurance proceeds and higher earnings from equity method investments. Adjusted net income decreased by 16.7% to US$15 million, while adjusted diluted earnings per share (EPS) fell from US$0.19 to US$0.16.
The Fresh Fruit segment recorded an 11.5% increase in revenue to US$91.6 million, driven by higher global sales volumes and prices for bananas, pineapples, and plantains. However, adjusted EBITDA fell by 36.7% (US$15.8 million) due to higher fruit sourcing costs, including those linked to Tropical Storm Sara's impact on Honduras in late 2024 and elevated pineapple and plantain procurement expenses.
In the Diversified Fresh Produce – EMEA division, revenue increased 10.9% (US$98.2 million), aided by favorable foreign currency movements and stronger performance in Scandinavia, Spain, and the Netherlands. Adjusted EBITDA rose 34.2% (US$10.4 million) due to improved earnings in key regions and currency gains. The Diversified Fresh Produce – Americas and Rest of World division also recorded growth, with revenue up 7.7% (US$29.9 million) and adjusted EBITDA up 46.2% (US$4.1 million), driven by improved export results and stronger North American performance in commodities such as kiwifruit and berries.
Net debt declined to US$664.5 million following proceeds from the US$140 million sale of the Fresh Vegetables division, of which US$68 million in cash was used to reduce borrowings. Dole also announced a share repurchase program of up to US$100 million and declared a third-quarter dividend of US$0.085 per share, payable January 6, 2026. The company maintained full-year adjusted EBITDA guidance at the upper end of its US$380 million–390 million range and expects annual capital expenditure of about US$85 million.
© DoleFor more information:
James O'Regan
Dole
Tel: +353 1 887 2794
Email: [email protected]
www.doleplc.com
