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Dole cuts 2026 adjusted EBITDA target to $380M–$390M

The full-year 2026 Adjusted EBITDA target is $380 million to $390 million, compared with approximately $400 million previously.

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Form Type
8-K

Rhea-AI Filing Summary

Dole plc reported third-quarter 2026 revenue of $2.4 billion, up 3.8%, and net income of $48.3 million, versus $13.8 million a year earlier. Net income attributable to Dole plc was $38.5 million. Adjusted EBITDA increased 4.1% to $84.1 million, and diluted EPS was $0.41 versus $0.05. Results included a $48.6 million gain on the Ecuador port sale and a $22.2 million tax charge on that sale.

For the nine months ended September 30, 2026, Adjusted EBITDA was $301.1 million versus $322.7 million. Free cash flow from continuing operations was a $59.3 million inflow, compared with a $66.2 million outflow. As of September 30, 2026, net debt was $491.3 million and net leverage was 1.3x. Dole completed the Greenfood Fresh Produce acquisition on July 2, 2026, for preliminary cash consideration, less cash acquired, of $0.4 million.

Dole targets full-year 2026 Adjusted EBITDA of $380 million to $390 million, compared with approximately $400 million previously. The board declared a $0.085-per-share third-quarter dividend payable January 6, 2027, and Dole repurchased $10.0 million of shares during the quarter.

2 points · 0 major

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0 major · 1 point

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Positive

  • Moderate pointQuarterly net income reached $48.3 million, versus $13.8 million a year earlier.
  • Moderate pointNine-month continuing-operations free cash flow: $59.3 million inflow versus $66.2 million outflow.

Negative

  • Moderate pointNine-month Adjusted EBITDA was $301.1 million, versus $322.7 million a year earlier.

Filing Explained

Dole reported third-quarter revenue growth of 3.8%, but growth was 2.0% on its like-for-like basis, which excludes currency translation and acquisitions and divestitures; the headline therefore includes those effects. The filing separately identifies a net positive $47.4 million impact from acquisitions and divestitures.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Revenue $2.4 billion Three months ended September 30, 2026; increased 3.8%.
Net income $48.3 million Three months ended September 30, 2026; $13.8 million in 2025.
Adjusted EBITDA $84.1 million Three months ended September 30, 2026; increased 4.1%.
Adjusted EBITDA $301.1 million Nine months ended September 30, 2026; $322.7 million in 2025.
Free cash flow from continuing operations $59.3 million inflow Nine months ended September 30, 2026; $66.2 million outflow in 2025.
Net debt $491.3 million As of September 30, 2026.
Net leverage 1.3x As of September 30, 2026.
Full-year Adjusted EBITDA target $380 million to $390 million 2026 target; compared with approximately $400 million previously.
Adjusted EBITDA financial
"Adjusted EBITDA increased 4.1%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Net Leverage financial
"Net Debt and Net Leverage as of September 30, 2026"
Net leverage measures how many years it would take for a company to pay off its outstanding debt using its annual operating cash flow, after subtracting cash on hand from total debt. Think of it like a household’s mortgage balance minus savings divided by yearly income; a lower number means the company is in a safer position to handle debt, while a higher number signals greater financial risk and potential pressure on profits or growth.
Free cash flow from continuing operations financial
"Free cash flow from continuing operations was an inflow"
A measure of the cash a company’s ongoing core business actually produces after paying its operating bills and replacing or maintaining the equipment and property needed to keep running, excluding any cash tied to businesses it has sold or shut down. Investors use it to judge how much real, reusable cash the company has to pay debts, buy back stock, pay dividends or invest in growth — like the money left in a household account after bills and necessary repairs.
like-for-like basis financial
"On a like-for-like basis, revenue increased 2.0%"
Like-for-like basis measures performance by comparing the same set of assets, stores or operations across periods while excluding changes such as acquisitions, disposals, or new openings and closures. Investors use it to reveal underlying growth or decline without one-time or structural changes skewing results—like comparing the temperature of the same room month to month rather than averaging in a new room—to assess true operational momentum.
non-GAAP financial measures financial
"supplemental measures of financial performance"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Revenue $2.4 billion increased 3.8%
Net income $48.3 million from $13.8 million
Adjusted EBITDA $84.1 million increased 4.1%
Diluted EPS $0.41 from $0.05
Guidance

Full-year 2026 Adjusted EBITDA target of $380 million to $390 million, compared with approximately $400 million previously.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did DOLE perform in the third quarter of 2026?
Dole plc reported third-quarter revenue of $2.4 billion, net income of $48.3 million and Adjusted EBITDA of $84.1 million. Revenue increased 3.8% and Adjusted EBITDA increased 4.1% year over year; net income compared with $13.8 million.

What is DOLE's 2026 Adjusted EBITDA target?
Dole is targeting full-year 2026 Adjusted EBITDA of $380 million to $390 million, compared with approximately $400 million previously. European shipping fuel costs are expected to have an approximately $16 million impact relative to the company’s original expectations for 2026.

When is DOLE's next dividend payment?
Dole declared a third-quarter 2026 cash dividend of $0.085 per share, payable January 6, 2027, to shareholders of record on December 16, 2026. The board declared the dividend on November 6, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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6

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 9, 2026

Dole plc
(Exact Name of Registrant as Specified in Charter)
Ireland
001-40695
   98-1610692
(State or other jurisdiction     
      of incorporation)
 (Commission File Number)    
(I.R.S. Employer Identification No.)

29 North Anne Street, Dublin 7
D07 PH36 Ireland

101 South Tryon St, Suite 600, Charlotte, NC
United States 28280
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: 353-1-887-2600

Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol (s)
Name of each exchange on which registered
Ordinary Shares, $0.01 Par Value Per Share
DOLE
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
                                        
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.          ☐




Item 2.02. Results of Operations and Financial Condition.
On November 9, 2026, Dole plc (the "Company") issued a press release disclosing its financial results for the three and nine months ended September 30, 2026. A copy of the press release is attached to this Current Form on 8-K as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure.

At 08:00 a.m. Eastern Time on November 9, 2026, the Company will host a conference call and simultaneous webcast to discuss its financial results for the three and nine months ended September 30, 2026. An archived replay of the webcast and the investor presentation used during the webcast will be available shortly after the live event has concluded in the Investors section of the Company's website, www.doleplc.com/investors.
The information being furnished pursuant to Item 2.02, including Exhibit 99.1, and Item 7.01 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise be subject to the liability of that section, and shall not be incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.
Description
99.1
Dole plc Press Release issued November 9, 2026 – Dole plc Reports Third Quarter 2026 Financial Results
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).



































DOLE PLC
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Date: November 9, 2026
DOLE PLC
(Registrant)
By: /s/ Jacinta Devine
Name: Jacinta Devine
Title: Chief Financial Officer







































Exhibit 99.1
Dole plc Reports Third Quarter 2026 Financial Results
DUBLIN – November 9, 2026 - Dole plc (NYSE: DOLE) ("Dole" or the "Group" or the "Company") today released its financial results for the three and nine months ended September 30, 2026.
Third Quarter Highlights:
•Solid Group performance despite a challenging operating environment
•Revenue increased 3.8% to $2.4 billion
•Net Income increased $34.5 million to $48.3 million, benefiting from a gain on the Ecuador port sale
•Adjusted EBITDA increased 4.1% to $84.1 million, reflecting the strength of our diversified business model
•Balance sheet strengthened, with Net Leverage reduced to 1.3x following completion of the Ecuador port sale
•Greenfood Fresh Produce integration underway with plans progressing for the multi-year development of the Helsingborg facility
•Ongoing capital returns to shareholders, with $10.0 million of share repurchases during the quarter


Financial Highlights
Three Months Ended
Nine Months Ended
September 30, 2026
September 30, 2025
September 30, 2026
September 30, 2025
(U.S. Dollars in millions, except per share amounts) (Unaudited)
Revenue
2,366 
2,279 
7,208 
6,807 
Net Income
48.3 
13.8 
121.2 
76.0 
Net Income attributable to Dole plc
38.5 
5.1 
95.8 
54.0 
Diluted EPS
0.41 
0.05 
1.00 
0.56 
Adjusted EBITDA1
84.1 
80.8 
301.1 
322.7 
Adjusted Net Income1
15.0 
15.0 
89.9 
101.3 
Adjusted Diluted EPS1
0.16 
0.16 
0.94 
1.06 
Commenting on the results, Carl McCann, Executive Chairman, said:
“We are pleased with the Group’s solid performance in the third quarter against a challenging operating backdrop.
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.
Due to the higher cost environment, our expectations for the remainder of the year have moderated and we are now targeting full-year Adjusted EBITDA in the range of $380 million to $390 million for 2026.”

Group Results - Third Quarter
Revenue increased 3.8%, or $87.3 million, primarily due to positive operational performance in the Diversified Fresh Produce - Americas & ROW and Diversified Fresh Produce - EMEA segments together with a net positive impact from acquisitions and divestitures of $47.4 million, partially offset by a decrease in revenue in Fresh Fruit. On a like-for-like basis2, revenue increased 2.0%, or $46.1 million.
Gross Profit increased $13.5 million, primarily due to higher revenue, partially offset by higher cost of sales due to increased trading activity in the Diversified Fresh Produce - Americas & ROW segment as well as the Diversified Fresh Produce - EMEA segment due to increased trading activity and the net impact of acquisitions and divestitures.
Operating Income increased $64.7 million, primarily due to the gain of $48.6 million on the Ecuador port sale, higher Gross Profit and lower impairment charges on assets, offset partially by higher SMG&A expenses.
1

Net Income increased to $48.3 million from $13.8 million in the prior year, primarily due to higher Operating Income and lower interest expense, as well as a loss of $10.2 million in discontinued operations (Fresh Vegetables) that occurred in the prior year only. This increase was partially offset by higher tax expense which included a $22.2 million tax charge on the Ecuador port sale and lower other income, primarily reflecting $10.0 million of insurance proceeds recognized in the prior year.
Adjusted EBITDA increased 4.1%, or $3.3 million, primarily driven by good performance in the Diversified Fresh Produce - Americas & ROW segment as well as an increase in Fresh Fruit offset by a marginal decrease in Diversified Fresh Produce - EMEA.
Adjusted Net Income was in line with prior year, with higher Adjusted EBITDA, lower depreciation charges and lower interest expense offset primarily by higher tax expense. Adjusted Diluted EPS was $0.16 for the three months ended September 30, 2026 and the prior year.
Selected Segmental Financial Information

Three Months Ended
September 30, 2026
September 30, 2025
(U.S. Dollars in thousands) (unaudited)
Revenue
Adjusted EBITDA1
Revenue
Adjusted EBITDA1
Fresh Fruit
$
818,698 
$
28,776 
$
890,356 
$
27,153 
Diversified Fresh Produce - EMEA
1,090,695 
39,474 
997,802 
40,740 
Diversified Fresh Produce - Americas & ROW
479,191 
15,811 
419,991 
12,876 
Intersegment
(22,409)
— 
(29,234)
— 
Total
$
2,366,175 
$
84,061 
$
2,278,915 
$
80,769 
Nine Months Ended
September 30, 2026
September 30, 2025
(U.S. Dollars in thousands) (unaudited)
Revenue
Adjusted EBITDA1
Revenue
Adjusted EBITDA1
Fresh Fruit
$
2,729,182 
$
131,586 
$
2,741,092 
$
163,240 
Diversified Fresh Produce - EMEA
3,224,450 
115,370 
2,990,686 
117,384 
Diversified Fresh Produce - Americas & ROW
1,339,316 
54,179 
1,169,752 
42,085 
Intersegment
(85,187)
— 
(94,784)
— 
Total
$
7,207,761 
$
301,135 
$
6,806,746 
$
322,709 

Third Quarter Segmental Commentary

Fresh Fruit
Revenue decreased 8.0%, or $71.7 million, primarily due to tariff-related impacts, as well as lower banana volumes in North America and lower pineapple volumes in Europe, reflecting the impact of adverse weather conditions on supply. This decrease was partially offset by higher banana volumes in Europe, improved underlying banana pricing in North America and the benefit of contractual fuel surcharge mechanisms.
Adjusted EBITDA increased 6.0%, or $1.6 million, primarily driven by improved underlying banana pricing in North America and higher banana volumes in Europe. These benefits were partially offset by elevated pineapple production costs due to adverse weather conditions and the continued strengthening of the Costa Rican Colón against the U.S. Dollar. Our key markets continued to experience increased shipping and logistics costs due to higher fuel costs, partially offset by the related fuel surcharge benefits in North America.
Diversified Fresh Produce – EMEA
Revenue increased 9.3%, or $92.9 million, primarily due to the acquisition of Greenfood Fresh Produce in Scandinavia at the beginning of the quarter, as well as underlying growth in Scandinavia, partially offset by lower revenue in Spain. On a like-for-like basis, revenue increased 4.1%, or $41.3 million.
2

Adjusted EBITDA decreased 3.1%, or $1.3 million, primarily due to weaker performance in the Netherlands and Spain, partially offset by an improved performance in Scandinavia, Ireland and the U.K. On a like-for-like basis, Adjusted EBITDA decreased 2.0%, or $0.8 million.
Diversified Fresh Produce – Americas & ROW
Revenue increased 14.1%, or $59.2 million, primarily driven by higher volumes in our North America business with strong underlying growth in key products including kiwi, avocados, grapes and tomatoes.
Adjusted EBITDA increased 22.8%, or $2.9 million, driven by a strong performance in our North American business, reflecting positive volume growth as well as a good performance in our Southern Hemisphere export business.
Capital Expenditures
Cash capital expenditures for the nine months ended September 30, 2026 were $64.4 million. Expenditures included farming investments in Latin America, investments in distribution facilities and ripening rooms in Europe, as well as other machinery and equipment related to blueberry and avocado packing in Europe.
Greenfood Fresh Produce Acquisition
On July 2, 2026, the acquisition of Greenfood Fresh Produce was completed. Greenfood Fresh Produce is a fresh produce distributor in the Nordic region, and the acquisition strengthens the Group’s position in this market. Preliminary cash consideration paid, less cash acquired, was $0.4 million. The Group is progressing plans for the multi-year development of the Helsingborg facility acquired with the business, incorporating advanced warehouse and robotics technology to support greater operational efficiency.
Free Cash Flow from Continuing Operations, Net Debt and Net Leverage
Free cash flow from continuing operations was an inflow of $59.3 million for the nine months ended September 30, 2026, compared to an outflow of $66.2 million in the prior year. The improvement primarily reflected lower seasonal working capital outflows, the timing benefit of tariff-related impacts, lower tax and interest payments, and lower capital expenditures in the current year.
Net Debt was impacted by the completion of the Ecuador port sale. Net cash proceeds, after accounting for the pre-closing ownership restructuring and net of cash transferred, transaction completion adjustments and transaction costs paid, were $126.7 million for the nine months ended September 30, 2026. The cumulative net cash proceeds, including adjustments for cash taxes to be paid, transaction costs and other adjustment items, are expected to be approximately $95.0 million. Net Debt and Net Leverage as of September 30, 2026 were $491.3 million and 1.3x, respectively.
Dividend
On November 6, 2026, the Board of Directors of Dole plc declared a cash dividend for the third quarter of 2026 of $0.085 per share, payable on January 6, 2027 to shareholders of record on December 16, 2026. A cash dividend of $0.085 per share was paid on October 7, 2026 for the second quarter of 2026.
Share Repurchase Program
During the quarter, we repurchased 762,319 shares at an average price of $13.10 per share, totaling $10.0 million. For the nine months ended September 30, 2026, we repurchased 1,788,179 shares at an average price of $13.76 per share, totaling $24.6 million. As of September 30, 2026, $75.4 million remained available for repurchase under the share repurchase program.
Outlook for Fiscal Year 2026 (forward-looking statement)
As we move through the final quarter of the year, the Group continues to demonstrate its resilience. Fuel and shipping costs remain elevated and weather conditions, including the effects of El Niño, continue to affect fruit availability. Within Fresh Fruit, our fuel surcharge mechanisms in North America provide significant protection against higher shipping fuel
3

costs. In Europe, higher shipping fuel costs are expected to have an impact of approximately $16 million relative to our original expectations for 2026.
We continue to expect year-on-year improvement in the fourth quarter, albeit at a lower level than anticipated at the time of our second quarter results.
We are now targeting full-year Adjusted EBITDA in the range of $380 million to $390 million for 2026, compared with approximately $400 million previously.
For full-year 2026, we are reducing our guidance for routine capital expenditure to approximately $90 million and maintaining our interest expense guidance at approximately $58 million.
Footnote Index
1.Refer to the Appendix of this release for an explanation and reconciliation of non-GAAP financial measures used in this release to comparable GAAP financial measures.
2.Like-for-like basis refers to the measure excluding the impact of foreign currency translation movements and acquisitions and divestitures. Refer to the Appendix and "Supplementary Reconciliation of Prior Year Segment Results to Current Year Segment Results" for further detail on these impacts and the calculation of like-for-like basis variances.
About Dole plc
A global leader in fresh produce, Dole plc produces, markets, and distributes an extensive variety of fresh fruits and vegetables sourced locally and from around the world. Dedicated and passionate in exceeding our customers’ requirements in over 85 countries, our goal is to make the world a healthier and a more sustainable place.
Webcast and Conference Call Information
Dole plc will host a conference call and simultaneous webcast at 08:00 a.m. Eastern Time today to discuss the third quarter 2026 financial results. The live webcast and a replay after the event can be accessed at www.doleplc.com/investor-relations/events-and-presentations or directly at www.events.q4inc.com/attendee/145693531.
Forward-looking information
Certain statements made in this press release that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management’s beliefs, assumptions, and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. The words “believe,” “may,” “could,” “will,” “should,” “would,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “strive,” “target” or similar words, or the negative of these words, identify forward-looking statements. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates, or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Accordingly, there are, or will be, important factors that could cause our actual results to differ materially from those indicated in these statements. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made except as required by the federal securities laws.
4



Investor Contact:
James O'Regan, Head of Investor Relations, Dole plc
james.oregan@doleplc.com
+353 1 887 2794
Media Contact:
Brian Bell, Ogilvy
brian.bell@ogilvy.com
+353 87 2436 130
5

Appendix
Condensed Consolidated Statements of Operations - Unaudited
Three Months Ended
Nine Months Ended
September 30, 2026
September 30, 2025
September 30, 2026
September 30, 2025
(U.S. Dollars and shares in thousands, except per share amounts)
Revenues, net
$
2,366,175 
$
2,278,915 
$
7,207,761 
$
6,806,746 
Cost of sales
(2,197,494)
(2,123,734)
(6,658,791)
(6,251,072)
Gross profit
168,681 
155,181 
548,970 
555,674 
Selling, marketing, general and administrative expenses
(127,457)
(123,621)
(399,675)
(366,341)
Gain on disposal of businesses
48,562 
143 
49,726 
552 
Gain on asset sales
1,954 
842 
3,307 
13,966 
Impairment and asset write-downs of property, plant and equipment and lease assets
(2,859)
(8,394)
(3,993)
(8,576)
Operating income
88,881 
24,151 
198,335 
195,275 
Other (expense) income, net
(20)
12,614 
8,387 
(6,450)
Interest income
3,762 
3,478 
12,334 
9,473 
Interest expense
(14,871)
(16,641)
(42,314)
(51,339)
Income from continuing operations before income taxes and equity earnings
77,752 
23,602 
176,742 
146,959 
Income tax expense
(34,087)
(6,100)
(70,871)
(49,182)
Equity method earnings
4,638 
6,559 
15,294 
23,352 
Income from continuing operations
48,303 
24,061 
121,165 
121,129 
Loss from discontinued operations, net of income taxes
— 
(10,236)
— 
(45,156)
Net income
48,303 
13,825 
121,165 
75,973 
Income attributable to noncontrolling interests
(9,792)
(8,720)
(25,373)
(21,990)
Net income attributable to Dole plc
$
38,511 
$
5,105 
$
95,792 
$
53,983 
Income per share - basic:
Continuing operations
$
0.41 
$
0.16 
$
1.01 
$
1.04 
Discontinued operations
— 
(0.11)
— 
(0.47)
Net income per share attributable to Dole plc - basic
$
0.41 
$
0.05 
$
1.01 
$
0.57 
Income per share - diluted:
Continuing operations
$
0.41 
$
0.16 
$
1.00 
$
1.03 
Discontinued operations
— 
(0.11)
— 
(0.47)
Net income per share attributable to Dole plc - diluted
$
0.41 
$
0.05 
$
1.00 
$
0.56 
Weighted-average shares:
Basic
94,328 
95,163 
94,847 
95,139 
Diluted
94,927 
95,979 
95,462 
95,835 
6

Condensed Consolidated Balance Sheets - Unaudited
September 30, 2026
December 31, 2025
ASSETS
(U.S. Dollars and shares in thousands)
Cash and cash equivalents
$
295,777 
$
267,854 
Receivables, net of allowances of $65,027 and $75,500, respectively
955,680 
804,621 
Inventories, net of allowances of $4,358 and $3,659, respectively
472,414 
509,260 
Prepaid expenses and other current assets
104,998 
94,316 
Assets held for sale
6,462 
75,689 
Total current assets
1,835,331 
1,751,740 
Investments in unconsolidated affiliates
145,609 
142,082 
Actively marketed property
42,286 
53,231 
Property, plant and equipment, net of accumulated depreciation of $645,953 and $619,706, respectively
1,051,948 
1,081,656 
Operating lease right-of-use assets
445,230 
371,366 
Goodwill
441,444 
434,345 
DOLE® brand
306,280 
306,280 
Other intangible assets, net of accumulated amortization of $134,228 and $133,022, respectively
14,658 
18,997 
Other assets
160,404 
147,758 
Deferred income tax assets
88,586 
88,669 
Total assets
$
4,531,776 
$
4,396,124 
LIABILITIES AND EQUITY
Accounts payable
$
789,830 
$
712,483 
Accrued liabilities
619,305 
573,008 
Bank overdraft, notes payable and current portion of long-term debt, net
64,363 
67,279 
Current maturities of operating leases
86,786 
71,379 
Other current liabilities
68,203 
56,285 
Liabilities held for sale
— 
14,047 
Total current liabilities
1,628,487 
1,494,481 
Long-term debt, net
716,830 
799,814 
Operating leases, less current maturities
365,154 
306,566 
Deferred income tax liabilities
83,830 
90,100 
Other long-term liabilities
211,246 
203,390 
Total liabilities
$
3,005,547 
$
2,894,351 
Redeemable noncontrolling interests
33,992 
29,716 
Stockholders’ equity:
Common stock — $0.01 par value; 300,000 shares authorized; 93,696 and 95,163 shares outstanding as of September 30, 2026 and December 31, 2025, respectively
937 
952 
Additional paid-in capital
781,051 
804,247 
Retained earnings
747,703 
676,371 
Accumulated other comprehensive loss
(135,241)
(117,467)
Total equity attributable to Dole plc
1,394,450 
1,364,103 
Equity attributable to noncontrolling interests
97,787 
107,954 
Total equity
1,492,237 
1,472,057 
Total liabilities, redeemable noncontrolling interests and equity
$
4,531,776 
$
4,396,124 
7

Condensed Consolidated Statements of Cash Flows - Unaudited
Nine Months Ended
September 30, 2026
September 30, 2025
Operating Activities
(U.S. Dollars in thousands)
Net income
$
121,165 
$
75,973 
Loss from discontinued operations, net of taxes
— 
45,156 
Income from continuing operations
121,165 
121,129 
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities - continuing operations:
Depreciation and amortization
82,530 
83,645 
Impairment and asset write-downs of property, plant and equipment and lease assets
3,993 
8,576 
Net gain on sale of assets
(3,307)
(13,966)
Net gain on sale of businesses
(49,726)
(552)
Net (gain) loss on financial instruments
(11,128)
22,365 
Stock-based compensation expense
5,171 
5,000 
Equity method earnings
(15,294)
(23,352)
Noncash debt refinancing expenses
— 
1,921 
Amortization of debt discounts and debt issuance costs
2,337 
4,733 
Deferred tax (benefit) expense
(3,926)
2,075 
Pension and other postretirement benefit plan cost
7,375 
4,535 
Dividends received from equity method investments
8,736 
8,744 
Gain on insurance proceeds
— 
(11,542)
Other
— 
(1,337)
Changes in operating assets and liabilities:
Receivables, net of allowances
(141,154)
(203,434)
Inventories
34,840 
(5,583)
Prepaids, other current assets and other assets
(39,649)
(244)
Accounts payable, accrued liabilities and other liabilities
121,718 
24,228 
Net cash provided by operating activities - continuing operations
123,681 
26,941 
Investing activities
Sales of assets
13,509 
12,093 
Capital expenditures
(64,382)
(93,101)
Proceeds from sale of businesses, net of transaction costs and cash transferred
131,674 
68,515 
Insurance proceeds
— 
19,550 
Net sales (purchases) of unconsolidated affiliates
387 
(2,055)
Other acquisitions, net of cash acquired
(2,749)
(2,489)
Other
(368)
(24)
Net cash provided by investing activities - continuing operations
78,071 
2,489 
Financing activities
Proceeds from borrowings and overdrafts
1,504,283 
1,533,582 
Repayments on borrowings and overdrafts
(1,591,341)
(1,516,208)
Dividends paid to shareholders
(24,759)
(24,171)
Dividends paid to noncontrolling interests
(22,567)
(22,917)
Repurchases of Ordinary shares
(24,644)
— 
Tax payments for net settlement of share-based payments
(3,378)
— 
Other noncontrolling interest activity, net
(3,926)
— 
Payment of contingent consideration
(2,738)
(1,015)
Net cash (used in) financing activities - continuing operations
(169,070)
(30,729)
Effect of foreign exchange rate changes on cash
(4,759)
17,988 
Net cash used in operating activities - discontinued operations
— 
(27,109)
Net cash used in investing activities - discontinued operations
— 
(6,626)
Cash used in discontinued operations, net
— 
(33,735)
Increase (decrease) in cash and cash equivalents
27,923 
(17,046)
Cash and cash equivalents at beginning of period, including discontinued operations
267,854 
331,719 
Cash and cash equivalents at end of period, including discontinued operations
$
295,777 
$
314,673 
Supplemental cash flow information:
Income tax payments, net of refunds
$
(52,602)
$
(71,546)
Interest payments on borrowings
$
(41,000)
$
(48,438)
8

Reconciliation from Net Income to Adjusted EBITDA - Unaudited
The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item.

Three Months Ended
Nine Months Ended
September 30, 2026
September 30, 2025
September 30, 2026
September 30, 2025
(U.S. Dollars in thousands)
Net income (Reported GAAP)
$
48,303 
$
13,825 
$
121,165 
$
75,973 
Loss from discontinued operations, net of income taxes
— 
10,236 
— 
45,156 
Income from continuing operations (Reported GAAP)
48,303 
24,061 
121,165 
121,129 
Income tax expense
34,087 
6,100 
70,871 
49,182 
Interest expense
14,871 
16,641 
42,314 
51,339 
Mark to market (gains) losses
(74)
(1,000)
(7,347)
22,069 
Gain on asset sales
(1,168)
— 
(1,215)
(11,178)
Gain on disposal of businesses
(48,562)
(143)
(49,726)
(552)
Legal and restructuring costs
— 
— 
23,054 
— 
Asset write-downs, net of insurance proceeds
1,462 
(8,257)
1,646 
(11,874)
Impairment of property, plant and equipment and lease assets
2,762 
8,208 
3,745 
8,208 
Other items1,2
(656)
795 
(755)
4,078 
Adjustments from equity method investments
3,553 
3,280 
7,134 
629 
Adjusted EBIT (Non-GAAP)
54,578 
49,685 
210,886 
233,030 
Depreciation
25,452 
27,022 
78,299 
78,331 
Amortization of intangible assets
1,309 
1,845 
4,231 
5,314 
Depreciation and amortization adjustments from equity method investments
2,722 
2,217 
7,719 
6,034 
Adjusted EBITDA (Non-GAAP)
$
84,061 
$
80,769 
$
301,135 
$
322,709 











1 For the three months ended September 30, 2026, other items is primarily comprised of $0.9 million of interest income on deferred transaction consideration, offset by various immaterial items. For the three months ended September 30, 2025, other items is primarily comprised of various immaterial items.
2 For the nine months ended September 30, 2026, other items is primarily comprised of $2.8 million of interest income on deferred transaction consideration, offset by $1.4 million of acquisition and transaction costs and other various immaterial items. For the nine months ended September 30, 2025, other items is primarily comprised of $3.2 million of net debt refinancing expenses and other various immaterial items.
9

Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited
The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Refer to the following pages for supplementary reconciliations on these items.

Three Months Ended
Nine Months Ended
September 30, 2026
September 30, 2025
September 30, 2026
September 30, 2025
(U.S. Dollars and shares in thousands, except per share amounts)
Net income attributable to Dole plc (Reported GAAP)
$
38,511 
$
5,105 
$
95,792 
$
53,983 
Loss from discontinued operations, net of income taxes
— 
10,236 
— 
45,156 
Income from continuing operations attributable to Dole plc
38,511 
15,341 
95,792 
99,139 
Adjustments:
Amortization of intangible assets
1,309 
1,845 
4,231 
5,314 
Mark to market (gains) losses
(74)
(1,000)
(7,347)
22,069 
Gain on asset sales
(1,168)
— 
(1,215)
(11,178)
Gain on disposal of businesses
(48,562)
(143)
(49,726)
(552)
Legal and restructuring costs
— 
— 
23,054 
— 
Asset write-downs, net of insurance proceeds
1,462 
(8,257)
1,646 
(11,874)
Impairment of property, plant and equipment and lease assets
2,762 
8,208 
3,745 
8,208 
Other items3,4
298 
795 
2,044 
4,078 
Adjustments from equity method investments
60 
272 
(1,708)
(7,160)
Income tax on items above and discrete tax items
20,561 
(2,361)
20,245 
(4,492)
NCI impact of items above
(209)
318 
(893)
(2,302)
Adjusted Net Income for Adjusted EPS calculation (Non-GAAP)
$
14,950 
$
15,018 
$
89,868 
$
101,250 
Adjusted earnings per share – basic (Non-GAAP)
$
0.16 
$
0.16 
$
0.95 
$
1.06 
Adjusted earnings per share – diluted (Non-GAAP)
$
0.16 
$
0.16 
$
0.94 
$
1.06 
Weighted average shares outstanding – basic
94,328 
95,163 
94,847 
95,139 
Weighted average shares outstanding – diluted
94,927 
95,979 
95,462 
95,835 
    
3 For the three months ended September 30, 2026, other items is primarily comprised of various immaterial items. For the three months ended September 30, 2025, other items is primarily comprised of various immaterial items.
4 For the nine months ended September 30, 2026, other items is primarily comprised of $1.4 million of acquisition and transaction costs and other various immaterial items. For the nine months ended September 30, 2025, other items is primarily comprised of $3.2 million of net debt refinancing expenses and other various immaterial items.
10

Supplemental Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited
The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item.
Three Months Ended September 30, 2026
(U.S. Dollars in thousands)
Revenues, net
Cost of sales
Gross profit
Gross Margin %
Selling, marketing, general and administrative expenses
Other operating items5
Operating Income
Reported (GAAP)
$
2,366,175 
(2,197,494)
168,681 
7.1 
%
(127,457)
47,657 
$
88,881 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
1,309 
— 
1,309 
Mark to market (gains) losses
— 
(77)
(77)
— 
— 
(77)
Gain on asset sales
— 
— 
— 
— 
(1,168)
(1,168)
Gain on disposal of businesses
— 
— 
— 
— 
(48,562)
(48,562)
Legal and restructuring costs
— 
— 
— 
— 
— 
— 
Asset write-downs, net of insurance proceeds
— 
1,462 
1,462 
— 
— 
1,462 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
2,762 
2,762 
Other items
— 
363 
363 
(110)
— 
253 
Adjustments from equity method investments
— 
— 
— 
— 
— 
— 
Income tax on items above and discrete tax items
— 
— 
— 
— 
— 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
2,366,175 
(2,195,746)
170,429 
7.2 
%
(126,258)
689 
$
44,860 
Three Months Ended September 30, 2025
(U.S. Dollars in thousands)
Revenues, net
Cost of sales
Gross profit
Gross Margin %
Selling, marketing, general and administrative expenses
Other operating items6
Operating Income
Reported (GAAP)
$
2,278,915 
(2,123,734)
155,181 
6.8 
%
(123,621)
(7,409)
$
24,151 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
1,845 
— 
1,845 
Mark to market (gains) losses
— 
(381)
(381)
— 
— 
(381)
Gain on asset sales
— 
— 
— 
— 
— 
— 
Gain on disposal of businesses
— 
— 
— 
— 
(143)
(143)
Asset write-downs, net of insurance proceeds
— 
1,731 
1,731 
— 
— 
1,731 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
8,208 
8,208 
Other items
— 
— 
— 
795 
— 
795 
Adjustments from equity method investments
— 
— 
— 
— 
— 
— 
Income tax on items above and discrete tax items
— 
— 
— 
— 
— 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
2,278,915 
(2,122,384)
156,531 
6.9 
%
(120,981)
656 
$
36,206 
5 Other operating items for the three months ended September 30, 2026 is comprised of a $48.6 million gain on disposal of businesses and $2.0 million gain on asset sales, offset partially by $2.9 million of asset write-downs and impairment charges on property, plant and equipment and lease assets, as reported on the Dole plc GAAP Condensed Consolidated Statements of Operations.
6 Other operating items for the three months ended September 30, 2025 is comprised of asset write-downs and impairment charges on property, plant and equipment and lease assets of $8.4 million, offset partially by a gain on asset sales of $0.8 million and a gain on disposal of businesses of $0.1 million, as reported on the Dole plc GAAP Condensed Consolidated Statements of Operations.
11

Three Months Ended September 30, 2026
(U.S. Dollars in thousands)
Other (expense) income, net
Interest income
Interest expense
Income tax expense
Equity method earnings
Income from continuing operations
Loss from discontinued operations, net of income taxes
Reported (GAAP)
$
(20)
3,762 
(14,871)
(34,087)
4,638 
48,303 
— 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
— 
— 
1,309 
— 
Mark to market (gains) losses
3 
— 
— 
— 
— 
(74)
— 
Gain on asset sales
— 
— 
— 
— 
— 
(1,168)
— 
Gain on disposal of businesses
— 
— 
— 
— 
— 
(48,562)
— 
Legal and restructuring costs
— 
— 
— 
— 
— 
— 
— 
Asset write-downs, net of insurance proceeds
— 
— 
— 
— 
— 
1,462 
— 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
— 
2,762 
— 
Other items
45 
— 
— 
— 
— 
298 
— 
Adjustments from equity method investments
— 
— 
— 
— 
60 
60 
— 
Income tax on items above and discrete tax items
— 
— 
— 
20,658 
(97)
20,561 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
28 
3,762 
(14,871)
(13,429)
4,601 
24,951 
$
— 


Three Months Ended September 30, 2025
(U.S. Dollars in thousands)
Other (expense) income, net
Interest income
Interest expense
Income tax expense
Equity method earnings
Income from continuing operations
Loss from discontinued operations, net of income taxes
Reported (GAAP)
$
12,614 
3,478 
(16,641)
(6,100)
6,559 
24,061 
(10,236)
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
10,236 
Amortization of intangible assets
— 
— 
— 
— 
— 
1,845 
— 
Mark to market (gains) losses
(619)
— 
— 
— 
— 
(1,000)
— 
Gain on asset sales
— 
— 
— 
— 
— 
— 
— 
Gain on disposal of businesses
— 
— 
— 
— 
— 
(143)
— 
Asset write-downs, net of insurance proceeds
(9,988)
— 
— 
— 
— 
(8,257)
— 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
— 
8,208 
— 
Other items
— 
— 
— 
— 
— 
795 
— 
Adjustments from equity method investments
— 
— 
— 
— 
272 
272 
— 
Income tax on items above and discrete tax items
— 
— 
— 
(2,310)
(51)
(2,361)
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
2,007 
3,478 
(16,641)
(8,410)
6,780 
23,420 
$
— 



12

Three Months Ended September 30, 2026
(U.S. Dollars and shares in thousands, except per share amounts)
Net income
Net income attributable to noncontrolling interests
Net income attributable to Dole plc
Diluted net income per share
Reported (GAAP)
$
48,303 
$
(9,792)
$
38,511 
$
0.41 
Loss from discontinued operations, net of income taxes
— 
— 
— 
Amortization of intangible assets
1,309 
— 
1,309 
Mark to market (gains) losses
(74)
— 
(74)
Gain on asset sales
(1,168)
— 
(1,168)
Gain on disposal of businesses
(48,562)
— 
(48,562)
Legal and restructuring costs
— 
— 
— 
Asset write-downs, net of insurance proceeds
1,462 
— 
1,462 
Impairment of property, plant and equipment and lease assets
2,762 
— 
2,762 
Other items
298 
— 
298 
Adjustments from equity method investments
60 
— 
60 
Income tax on items above and discrete tax items
20,561 
— 
20,561 
NCI impact of items above
— 
(209)
(209)
Adjusted (Non-GAAP)
$
24,951 
$
(10,001)
$
14,950 
$
0.16 
Weighted average shares outstanding – diluted
94,927 
Three Months Ended September 30, 2025
(U.S. Dollars and shares in thousands, except per share amounts)
Net income
Net income attributable to noncontrolling interests
Net income attributable to Dole plc
Diluted net income per share
Reported (GAAP)
$
13,825 
$
(8,720)
$
5,105 
$
0.05 
Loss from discontinued operations, net of income taxes
10,236 
— 
10,236 
Amortization of intangible assets
1,845 
— 
1,845 
Mark to market (gains) losses
(1,000)
— 
(1,000)
Gain on asset sales
— 
— 
— 
Gain on disposal of businesses
(143)
— 
(143)
Asset write-downs, net of insurance proceeds
(8,257)
— 
(8,257)
Impairment of property, plant and equipment and lease assets
8,208 
— 
8,208 
Other items
795 
— 
795 
Adjustments from equity method investments
272 
— 
272 
Income tax on items above and discrete tax items
(2,361)
— 
(2,361)
NCI impact of items above
— 
318 
318 
Adjusted (Non-GAAP)
$
23,420 
$
(8,402)
$
15,018 
$
0.16 
Weighted average shares outstanding – diluted
95,979 


13

Supplemental Reconciliation from Net Income attributable to Dole plc to Adjusted Net Income - Unaudited
The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item.
Nine Months Ended September 30, 2026
(U.S. Dollars in thousands)
Revenues, net
Cost of sales
Gross profit
Gross Margin %
Selling, marketing, general and administrative expenses
Other operating items7
Operating Income
Reported (GAAP)
$
7,207,761 
(6,658,791)
548,970 
7.6 
%
(399,675)
49,040 
$
198,335 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
4,231 
— 
4,231 
Mark to market (gains) losses
— 
218 
218 
— 
— 
218 
Gain on asset sales
— 
— 
— 
— 
(1,215)
(1,215)
Gain on disposal of businesses
— 
— 
— 
— 
(49,726)
(49,726)
Legal and restructuring costs
— 
— 
— 
23,054 
— 
23,054 
Asset write-downs, net of insurance proceeds
— 
1,646 
1,646 
— 
— 
1,646 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
3,745 
3,745 
Other items
— 
363 
363 
244 
— 
607 
Adjustments from equity method investments
— 
— 
— 
— 
— 
— 
Income tax on items above and discrete tax items
— 
— 
— 
— 
— 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
7,207,761 
(6,656,564)
551,197 
7.6 
%
(372,146)
1,844 
$
180,895 

Nine Months Ended September 30, 2025
(U.S. Dollars in thousands)
Revenues, net
Cost of sales
Gross profit
Gross Margin %
Selling, marketing, general and administrative expenses
Other operating items8
Operating Income
Reported (GAAP)
$
6,806,746 
(6,251,072)
555,674 
8.2 
%
(366,341)
5,942 
$
195,275 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
5,314 
— 
5,314 
Mark to market (gains) losses
— 
1,876 
1,876 
— 
— 
1,876 
Gain on asset sales
— 
— 
— 
— 
(11,178)
(11,178)
Gain on disposal of businesses
— 
— 
— 
— 
(552)
(552)
Asset write-downs, net of insurance proceeds
— 
(1,886)
(1,886)
— 
— 
(1,886)
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
8,208 
8,208 
Other items
— 
— 
— 
896 
— 
896 
Adjustments from equity method investments
— 
— 
— 
— 
— 
— 
Income tax on items above and discrete tax items
— 
— 
— 
— 
— 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
6,806,746 
(6,251,082)
555,664 
8.2 
%
(360,131)
2,420 
$
197,953 
7 Other operating items for the nine months ended September 30, 2026 is comprised of a $49.7 million gain on disposal of businesses and a $3.3 million gain on asset sales, offset partially by $4.0 million of asset write-downs and impairment charges on property, plant and equipment and lease assets, as reported on the Dole plc GAAP Condensed Consolidated Statements of Operations.
8 Other operating items for the nine months ended September 30, 2025 is comprised of a $0.6 million gain on disposal of businesses and a $14.0 million gain on asset sales, offset partially by $8.6 million of asset write-downs and impairment charges on property, plant and equipment and lease assets, as reported on the Dole plc GAAP Condensed Consolidated Statements of Operations.
14

Nine Months Ended September 30, 2026
(U.S. Dollars in thousands)
Other (expense) income, net
Interest income
Interest expense
Income tax expense
Equity method earnings
Income from continuing operations
Loss from discontinued operations, net of income taxes
Reported (GAAP)
$
8,387 
12,334 
(42,314)
(70,871)
15,294 
121,165 
— 
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
— 
Amortization of intangible assets
— 
— 
— 
— 
— 
4,231 
— 
Mark to market (gains) losses
(7,565)
— 
— 
— 
— 
(7,347)
— 
Gain on asset sales
— 
— 
— 
— 
— 
(1,215)
— 
Gain on disposal of businesses
— 
— 
— 
— 
— 
(49,726)
— 
Legal and restructuring costs
— 
— 
— 
— 
— 
23,054 
— 
Asset write-downs, net of insurance proceeds
— 
— 
— 
— 
— 
1,646 
— 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
— 
3,745 
— 
Other items
1,437 
— 
— 
— 
— 
2,044 
— 
Adjustments from equity method investments
— 
— 
— 
— 
(1,708)
(1,708)
— 
Income tax on items above and discrete tax items
— 
— 
— 
19,842 
403 
20,245 
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
2,259 
12,334 
(42,314)
(51,029)
13,989 
116,134 
$
— 


Nine Months Ended September 30, 2025
(U.S. Dollars in thousands)
Other (expense) income, net
Interest income
Interest expense
Income tax expense
Equity method earnings
Income from continuing operations
Loss from discontinued operations, net of income taxes
Reported (GAAP)
$
(6,450)
9,473 
(51,339)
(49,182)
23,352 
121,129 
(45,156)
Loss from discontinued operations, net of income taxes
— 
— 
— 
— 
— 
— 
45,156 
Amortization of intangible assets
— 
— 
— 
— 
— 
5,314 
— 
Mark to market (gains) losses
20,193 
— 
— 
— 
— 
22,069 
— 
Gain on asset sales
— 
— 
— 
— 
— 
(11,178)
— 
Gain on disposal of businesses
— 
— 
— 
— 
— 
(552)
— 
Asset write-downs, net of insurance proceeds
(9,988)
— 
— 
— 
— 
(11,874)
— 
Impairment of property, plant and equipment and lease assets
— 
— 
— 
— 
— 
8,208 
— 
Other items
3,182 
— 
— 
— 
— 
4,078 
— 
Adjustments from equity method investments
— 
— 
— 
— 
(7,160)
(7,160)
— 
Income tax on items above and discrete tax items
— 
— 
— 
(5,128)
636 
(4,492)
— 
NCI impact of items above
— 
— 
— 
— 
— 
— 
— 
Adjusted (Non-GAAP)
$
6,937 
9,473 
(51,339)
(54,310)
16,828 
125,542 
$
— 



15

Nine Months Ended September 30, 2026
(U.S. Dollars and shares in thousands, except per share amounts)
Net income
Net income attributable to noncontrolling interests
Net income attributable to Dole plc
Diluted net income per share
Reported (GAAP)
$
121,165 
$
(25,373)
$
95,792 
$
1.00 
Loss from discontinued operations, net of income taxes
— 
— 
— 
Amortization of intangible assets
4,231 
— 
4,231 
Mark to market (gains) losses
(7,347)
— 
(7,347)
Gain on asset sales
(1,215)
— 
(1,215)
Gain on disposal of businesses
(49,726)
— 
(49,726)
Legal and restructuring costs
23,054 
— 
23,054 
Asset write-downs, net of insurance proceeds
1,646 
— 
1,646 
Impairment of property, plant and equipment and lease assets
3,745 
— 
3,745 
Other items
2,044 
— 
2,044 
Adjustments from equity method investments
(1,708)
— 
(1,708)
Income tax on items above and discrete tax items
20,245 
— 
20,245 
NCI impact of items above
— 
(893)
(893)
Adjusted (Non-GAAP)
$
116,134 
$
(26,266)
$
89,868 
$
0.94 
Weighted average shares outstanding – diluted
95,462 
Nine Months Ended September 30, 2025
(U.S. Dollars and shares in thousands, except per share amounts)
Net income
Net income attributable to noncontrolling interests
Net income attributable to Dole plc
Diluted net income per share
Reported (GAAP)
$
75,973 
$
(21,990)
$
53,983 
$
0.56 
Loss from discontinued operations, net of income taxes
45,156 
— 
45,156 
Amortization of intangible assets
5,314 
— 
5,314 
Mark to market (gains) losses
22,069 
— 
22,069 
Gain on asset sales
(11,178)
— 
(11,178)
Gain on disposal of businesses
(552)
— 
(552)
Asset write-downs, net of insurance proceeds
(11,874)
— 
(11,874)
Impairment of property, plant and equipment and lease assets
8,208 
— 
8,208 
Other items
4,078 
— 
4,078 
Adjustments from equity method investments
(7,160)
— 
(7,160)
Income tax on items above and discrete tax items
(4,492)
— 
(4,492)
NCI impact of items above
— 
(2,302)
(2,302)
Adjusted (Non-GAAP)
$
125,542 
$
(24,292)
$
101,250 
$
1.06 
Weighted average shares outstanding – diluted
95,835 


16

Supplemental Reconciliation of Prior Year Segment Results to Current Year Segment Results – Unaudited


Revenue for the Three Months Ended
September 30, 2025
Impact of Foreign Currency Translation
Impact of Acquisitions and Divestitures
Like-for-like Increase (Decrease)
September 30, 2026
(U.S. Dollars in thousands)
Fresh Fruit
$
890,356 
$
— 
$
(9,815)
$
(61,843)
$
818,698 
Diversified Fresh Produce - EMEA
997,802 
(5,605)
57,188 
41,310 
1,090,695 
Diversified Fresh Produce - Americas & ROW
419,991 
(613)
— 
59,813 
479,191 
Intersegment
(29,234)
— 
— 
6,825 
(22,409)
Total
$
2,278,915 
$
(6,218)
$
47,373 
$
46,105 
$
2,366,175 

Adjusted EBITDA for the Three Months Ended
September 30, 2025
Impact of Foreign Currency Translation
Impact of Acquisitions and Divestitures
Like-for-like Increase (Decrease)
September 30, 2026
(U.S. Dollars in thousands)
Fresh Fruit
$
27,153 
$
135 
$
953 
$
535 
$
28,776 
Diversified Fresh Produce - EMEA
40,740 
(150)
(299)
(817)
39,474 
Diversified Fresh Produce - Americas & ROW
12,876 
(15)
— 
2,950 
15,811 
Total
$
80,769 
$
(30)
$
654 
$
2,668 
$
84,061 

Revenue for the Nine Months Ended
September 30, 2025
Impact of Foreign Currency Translation
Impact of Acquisitions and Divestitures
Like-for-like Increase (Decrease)
September 30, 2026
(U.S. Dollars in thousands)
Fresh Fruit
$
2,741,092 
$
— 
$
(9,815)
$
(2,095)
$
2,729,182 
Diversified Fresh Produce - EMEA
2,990,686 
118,861 
57,188 
57,715 
3,224,450 
Diversified Fresh Produce - Americas & ROW
1,169,752 
1,388 
— 
168,176 
1,339,316 
Intersegment
(94,784)
— 
— 
9,597 
(85,187)
Total
$
6,806,746 
$
120,249 
$
47,373 
$
233,393 
$
7,207,761 

Adjusted EBITDA for the Nine Months Ended
September 30, 2025
Impact of Foreign Currency Translation
Impact of Acquisitions and Divestitures
Like-for-like Increase (Decrease)
September 30, 2026
(U.S. Dollars in thousands)
Fresh Fruit
$
163,240 
$
(448)
$
953 
$
(32,159)
$
131,586 
Diversified Fresh Produce - EMEA
117,384 
5,022 
(811)
(6,225)
115,370 
Diversified Fresh Produce - Americas & ROW
42,085 
(45)
— 
12,139 
54,179 
Total
$
322,709 
$
4,529 
$
142 
$
(26,245)
$
301,135 
17

Net Debt and Net Leverage Reconciliation – Unaudited
Net Debt is the primary measure used by management to analyze the Company’s capital structure. Net Debt is a non-GAAP financial measure, calculated as cash and cash equivalents, less current and long-term debt. It also excludes debt discounts and debt issuance costs. Net Leverage is calculated as total Net Debt divided by Last Twelve Months ("LTM") Adjusted EBITDA as of the period end. The calculation of Net Debt and Net Leverage as of September 30, 2026 is presented below. Net Debt as of September 30, 2026 was $491.3 million and Net Leverage was 1.3x.
September 30, 2026
December 31, 2025
(U.S. Dollars in thousands)
Cash and cash equivalents (Reported GAAP)
$
295,777 
$
267,854 
Debt (Reported GAAP):
Long-term debt, net
(716,830)
(799,814)
Current maturities
(47,565)
(57,668)
Bank overdrafts
(16,798)
(9,611)
Total debt, net
(781,193)
(867,093)
Add: Debt discounts and debt issuance costs (Reported GAAP)
(5,933)
(7,237)
Total gross debt
(787,126)
(874,330)
Net Debt (Non-GAAP)
$
(491,349)
$
(606,476)
LTM Adjusted EBITDA (Non-GAAP)
373,802 
395,376 
Net Leverage (Non-GAAP)
1.3x
1.5x
Last Twelve Months ("LTM") Adjusted EBITDA
FY'25 Adjusted EBITDA
395,376 
395,376 
Less: Q3'25 YTD Adjusted EBITDA
(322,709)
Plus: Q3'26 YTD Adjusted EBITDA
301,135 
LTM Adjusted EBITDA
$
373,802 
$
395,376 

Free Cash Flow from Continuing Operations Reconciliation – Unaudited

Nine Months Ended
September 30, 2026
September 30, 2025
(U.S. Dollars in thousands)
Net cash provided by operating activities - continuing operations (Reported GAAP)
$
123,681 
$
26,941 
Less: Capital expenditures (Reported GAAP)
(64,382)
(93,101)
Free cash flow from continuing operations (Non-GAAP)
$
59,299 
$
(66,160)
18

Non-GAAP Financial Measures
Dole plc’s results are determined in accordance with U.S. GAAP.
In addition to its results under U.S. GAAP, in this Press Release, we also present Dole plc’s Adjusted EBIT, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow from Continuing Operations, Net Debt and Net Leverage, which are supplemental measures of financial performance that are not required by, or presented in accordance with, U.S. GAAP (collectively, the "non-GAAP financial measures"). We present these non-GAAP financial measures, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our operating results, cash flows or any other measure prescribed by U.S. GAAP. Our presentation of non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by any of the adjusted items or that any projections and estimates will be realized in their entirety or at all. In addition, adjustment items that are excluded from non-GAAP results can have a material impact on equivalent GAAP earnings, financial measures and cash flows.
Adjusted EBIT is calculated from GAAP net income by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding the income tax expense or subtracting the income tax benefit; (3) adding interest expense; (4) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (5) other items which are separately stated based on materiality, which during the three and nine months ended September 30, 2026 and September 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held for sale classification losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, subtracting interest income on deferred transaction consideration, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the ordinary course of business and adding debt refinancing expenses; and (6) the Company’s share of these items from equity method investments.
Adjusted EBITDA is calculated from GAAP net income by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding the income tax expense or subtracting the income tax benefit; (3) adding interest expense; (4) adding depreciation charges; (5) adding amortization charges on intangible assets; (6) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (7) other items which are separately stated based on materiality, which during the three and nine months ended September 30, 2026 and September 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held‑for‑sale losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, subtracting interest income on deferred transaction consideration, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the normal course of business and adding debt refinancing expenses; and (8) the Company’s share of these items from equity method investments.
Last Twelve Months ("LTM") Adjusted EBITDA is calculated as Adjusted EBITDA, as defined above, for the last twelve months as of the period end, which for the nine months ended September 30, 2026, is calculated as subtracting the Adjusted EBITDA for the nine months ended September 30, 2025 from the Adjusted EBITDA for the year ended December 31, 2025 and then adding Adjusted EBITDA for the nine months ended September 30, 2026. LTM Adjusted EBITDA for the year ended December 31, 2025 is the same as Adjusted EBITDA for the year ended December 31, 2025.
Adjusted Net Income is calculated from GAAP net income attributable to Dole plc by: (1) subtracting the income or adding the loss from discontinued operations, net of income taxes; (2) adding amortization charges on intangible assets; (3) adding mark to market losses or subtracting mark to market gains related to unrealized impacts from certain derivative instruments and foreign currency denominated borrowings, realized impacts on noncash settled foreign currency denominated borrowings, net foreign currency impacts on liquidated entities and fair value movements on contingent consideration; (4) other items which are separately stated based on materiality, which during the three and nine months ended September 30, 2026 and September 30, 2025, included subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property or sales-type leases, adding impairment charges or held for sale classification losses on property, plant and equipment and lease assets, adding or subtracting asset write-downs from extraordinary events, net of insurance proceeds, adding acquisition and transaction costs, adding restructuring charges and costs for legal matters not in the normal course of business and adding debt refinancing expenses; (5) the Company’s share of these items from equity method investments; (6) excluding the tax effect of these items and discrete tax adjustments; and (7) excluding the effect of these items attributable to non-controlling interests.
Adjusted Earnings per Share is calculated from Adjusted Net Income divided by diluted weighted average number of shares in the applicable period.
Net Debt is a non-GAAP financial measure, calculated as GAAP cash and cash equivalents, less GAAP current and long-term debt. It also excludes GAAP unamortized debt discounts and debt issuance costs.
Net Leverage is a non-GAAP financial measure, calculated as Net Debt divided by LTM Adjusted EBITDA, both of which are defined above.
Free cash flow from continuing operations is calculated from GAAP net cash used in or provided by operating activities for continuing operations less GAAP capital expenditures.
Like-for-like basis refers to the U.S. GAAP measure or non-GAAP financial measure excluding the impact of foreign currency translation movements and acquisitions and divestitures. The impact of foreign currency translation represents an estimate of the effect of translating the results of operations denominated in a foreign currency to U.S. Dollar at prior year average rates, as compared to current year average rates.
Dole is not able to provide a reconciliation for projected FY'26 results without taking unreasonable efforts.
19

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