Dole has reduced its full-year profit outlook as higher fuel and freight expenses continue to pressure the fresh produce business.
The company now forecasts adjusted EBITDA of $380m to $390m for the full year, compared with its earlier estimate of approximately $400m.
“Fuel and shipping costs remain elevated and weather conditions, including the effects of El Niño, continue to affect fruit availability,” the group said reporting its third quarter 2026 financial results.
Dole said increased shipping fuel expenses in Europe are expected to reduce its original 2026 forecast by around $16m.
Commenting on the results, Carl McCann, Dole executive chairman, said: “We are pleased with the group’s solid performance in the third quarter against a challenging operating backdrop.”
Revenue for the quarter ended 30 September rose 3.8% year on year to $2.37bn. Adjusted EBITDA grew 4.1% to $84.1m, while net income climbed to $48.3m from $13.8m in the corresponding period last year.
The company’s earnings also benefited from a $48.6m gain generated through the sale of its Ecuador port, Dole said.
For the first nine months of 2026, revenue increased 5.9% year on year to $7.21bn. Adjusted EBITDA declined 6.7% to $301.1m, while net income advanced 59.5% to $121.2m, up from $76.0m a year earlier.
Within the group’s divisions, Fresh Fruit revenue dropped 8% in the third quarter to $818.7m. The performance reflected tariff-related pressures, reduced banana volumes in North America and unfavourable weather that disrupted pineapple supply in Europe. Despite the weaker sales performance, adjusted EBITDA for the division rose 6% to $28.8m.
Revenue in Diversified Fresh Produce–EMEA increased 9.3% to $1.1bn, helped by the addition of Greenfood Fresh Produce.
Dole completed its acquisition of the Nordic fruit and vegetable wholesaler on 2 July. The transaction concluded an agreement first reached in December 2025 and is intended to broaden the company’s presence across the region.
Adjusted EBITDA for the segment nevertheless fell 3.1% to $39.5m.
In Diversified Fresh Produce–Americas & ROW, revenue grew 14.1% to $479.2m. Adjusted EBITDA rose 22.8% to $15.8m, supported by higher volumes across North America.
McCann added: “The strategic actions we have taken over the last 18 months have strengthened our business, leaving Dole a more focused company today, with greater financial flexibility to support our continued development.”
