Dole stock falls 5% on second quarter earnings and revenue miss

Dole plc (NYSE:DOLE) reported weaker-than-expected second quarter results on Monday, failing to meet Wall Street's estimates. Both adjusted earnings per share and revenue fell short of expectations as increased fruit sourcing costs weighed on profitability. The company's shares dropped 5.35% in early trading after the announcement.

Dole's adjusted EPS for the quarter ending June 30, 2026, was $0.46, below the analyst consensus of $0.51. Revenue grew by 2.9% to $2.50 billion, but it was still lower than the $2.52 billion forecast by analysts. Adjusted EBITDA declined by 14.8% to $116.8 million from $137.1 million a year ago, mainly due to higher costs in the Fresh Fruit segment and increased shipping expenses from rising fuel prices.

The company aims for a full-year adjusted EBITDA of around $400 million for 2026. Carl McCann, Executive Chairman, highlighted the company's resilience and ability to navigate a tough operating environment, mentioning the successful sale of an Ecuador port, which generated approximately $95 million in net proceeds. The Fresh Fruit segment saw a 30.9% drop in adjusted EBITDA to $50.3 million, hurt by higher fruit sourcing costs and the Costa Rican Colón's strengthened against the U.S. Dollar.

However, Diversified Fresh Produce - Americas & ROW performed well, with adjusted EBITDA rising 33.8% to $20.6 million, driven by higher volumes of kiwi and avocados. The company anticipates routine capital expenditures of about $100 million and interest expenses of around $58 million for the entire year.