Dole plc
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
DOLE$13.98+0.7%Stored close · as of Nov 9, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-10.
0001857475-26-000076
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-09.
0001857475-26-000094
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 130 previous paragraphs and 135 current paragraphs.
63 unchanged; 57 reworded; 14 added; 6 removed; 4 previous and 1 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (14)
Current report
Greenfood Acquisition
Current report
On July 2, 2026, we completed the Greenfood Acquisition for $30.4 million in cash, after customary transaction adjustments. Preliminary cash consideration paid, less cash acquired of $29.0 million, was $0.4 million for the nine months ended September 30, 2026, which is included in other acquisitions, less cash acquired, in the condensed consolidated statements of cash flows. The Greenfood Acquisition impacted our operating results in the three and nine months ended September 30, 2026, as discussed further below.
Current report
Tariff Refunds
Current report
In February of 2026, the U.S. Supreme Court ruled that the IEEPA does not authorize the President to impose tariffs. Subsequently, the U.S. government established a system whereby refunds of these IEEPA tariffs could be processed.
Current report
In the three months ended September 30, 2026, we recorded a reduction to cost of sales related to IEEPA tariff refunds received or approved by the U.S. government. The impact to cost of sales was offset by a decrease of revenue related to accrued tariff refunds. The net impact of tariff refunds has not been and is not expected to be material to our consolidated results.
Current report
The increase in total revenue, net, for the three months ended September 30, 2026 (3.8%, or $87.3 million) was 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, primarily as a result of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment at the beginning of the third quarter. These increases were offset partially by a decrease in the Fresh Fruit segment primarily due to accrued tariff refunds, as well as lower banana volumes in North America and lower pineapple volumes in Europe, reflecting the impact of adverse weather conditions on supply. These impacts were partially offset by higher banana volumes in Europe, improved underlying banana pricing in North America and the benefit of contractual fuel surcharge mechanisms.
Current report
Gain on Disposal of Businesses
Current report
There was an immaterial gain on disposal of businesses for the three and nine months ended September 30, 2025.
Current report
See Note 4 “Acquisitions and Divestitures” to the unaudited condensed consolidated financial statements included herein for additional detail.
Current report
The impairment and asset write-downs of property, plant and equipment and lease assets for the three and nine months ended September 30, 2025 was $8.4 million and $8.6 million, respectively, primarily related to certain property, plant and equipment and operating lease right-of-use assets excluded from the disposal of the Fresh Vegetables division. As a result of the reclassification of these assets as held and used, we recorded a non-cash aggregate impairment charge of $8.2 million to adjust the assets to the lower of carrying amount (adjusted for depreciation and amortization had these assets been continuously classified as held and used) and fair value.
Current report
Other (expense) income, net
Current report
The decrease in Fresh Fruit revenue, net, for the three months ended September 30, 2026 (8.0%, or $71.7 million) to $818.7 million was primarily due to accrued tariff refunds, 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 banana underlying pricing in North America and the benefit of contractual fuel surcharge mechanisms.
Current report
The increase in Fresh Fruit Adjusted EBITDA for the three months ended September 30, 2026 (6.0%, or $1.6 million) to $28.8 million was 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.
Current report
The increase in Diversified Fresh Produce – Americas & ROW Adjusted EBITDA for the three months ended September 30, 2026 (22.8%, or $2.9 million) to $15.8 million was 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, in part driven by positive claim settlements from prior seasons in the quarter.
Removed paragraphs (6)
Previous report
See our Annual Report on Form 10-K for additional detail on the disposal of our Fresh Vegetables division.
Previous report
There was an immaterial gain on disposal of business for the three months ended June 30, 2025, and during the six months ended June 30, 2025, Dole recognized an incremental gain on the sale of Progressive of $0.4 million related to amounts that were released from escrow.
Previous report
Other income (expense), net
Previous report
The decrease in Fresh Fruit Adjusted EBITDA for the three months ended June 30, 2026 (30.9%, or $22.5 million) to $50.3 million was driven primarily driven by higher fruit sourcing costs, elevated shipping costs in both European and North American markets due to higher fuel costs, higher pineapple growing costs resulting from adverse weather conditions, as well as the continued strengthening of the Costa Rican Colón against the U.S. Dollar.
Previous report
The increase in Fresh Fruit revenue, net, for the six months ended June 30, 2026 (3.2%, or $59.7 million) to $1.9 billion was primarily due to higher volumes of bananas sold in Europe. There was also higher underlying pricing of bananas and pineapples, as well as higher volumes of plantains in North America. These increases were partially offset by decreased banana volumes in North America, and more recently, lower pineapple volumes in all markets due to unfavorable weather conditions.
Previous report
The increase in Diversified Fresh Produce – Americas & ROW Adjusted EBITDA for the three months ended June 30, 2026 (33.8%, or $5.2 million) to $20.6 million was driven by a strong performance in our North American business, driven both by positive volume growth in kiwi and avocados and seasonal timing differences in cherries, as well as the continued benefit of the partial restructuring of our berry operations in the fourth quarter of 2025.
Reworded paragraphs (57)
Previous wording
Diversified Fresh Produce – EMEA: The Diversified Fresh Produce– EMEA reportable segment includes Dole’s Irish, Dutch, Spanish, Portuguese, French, Italian, U.K., Swedish, Danish, South African, Czech, Slovakian, Polish, German and Brazilian businesses, the majority of which sell a variety of imported and local fresh fruits and vegetables through retail, wholesale, food service and e-commerce channels across the European marketplace.
Current wording
Diversified Fresh Produce – EMEA: The Diversified Fresh Produce– EMEA reportable segment includes Dole’s Irish, Dutch, Spanish, Portuguese, French, Italian, U.K., Swedish, Finnish, Danish, South African, Czech, Slovakian, Polish, German and Brazilian businesses, the majority of which sell a variety of imported and local fresh fruits and vegetables through retail, wholesale, food service and e-commerce channels across the European marketplace.
Previous wording
On December 13, 2025, we entered into the Port Sale Transaction. In May of 2026, we completed the Pre-Closing Ownership Restructuring and paid cash of $51.2 million to purchase the remaining interests in the Ecuadorian Port Business. On July 1, 2026, the Company completed the Port Disposal, thereby completing the Port Sale Transaction and disposing of the Ecuadorian Port Business. Total cash proceeds of the Port Disposal, after customary transaction adjustments, were approximately $180.0 million. Accounting for the effects of the Pre-Closing Ownership Restructuring and net of cash transferred, transaction costs, customary transaction completion adjustments, cash taxes and other adjustments, total net cash proceeds of the Port Sale Transaction are expected to be approximately $95.0 million.
Current wording
On December 13, 2025, we entered into the Port Sale Transaction. In May of 2026, we completed the Pre-Closing Ownership Restructuring and paid cash of $51.2 million to purchase the remaining interests in the Ecuadorian Port Business. On July 1, 2026, the Company completed the Port Disposal, thereby completing the Port Sale Transaction and disposing of the Ecuadorian Port Business. Cash proceeds received for the Port Disposal were approximately $180.0 million, after customary transaction completion adjustments. Net cash proceeds of the Port Sale Transaction, 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, which is included in proceeds from the sale of businesses in the condensed consolidated statements of cash flows. As a result of the Port Sale Transaction, the Company recorded a net pre-tax gain on disposal of $48.6 million, included within gain on disposal of businesses in our operating results below.
Previous wording
On August 5, 2025, the Vegetables Transaction closed and we completed the exit of the Fresh Vegetables division. The results of operations of the Fresh Vegetables division up to the disposal date have been reported separately as discontinued operations, net of income taxes, within our operating results below. We do not expect the sale to have other material direct or indirect impacts to our current or future operating results, statement of financial position and cash flows.
Current wording
On August 5, 2025, the Vegetables Transaction closed and we completed the exit of the Fresh Vegetables division. The results of operations of the Fresh Vegetables division up to the disposal date, including the effects of the disposal, have been reported separately as discontinued operations, net of income taxes, within our operating results below. We do not expect the sale to have other material direct or indirect impacts to our current or future operating results, statement of financial position and cash flows.
Previous wording
As 2026 progresses, the economic and market environment continues to be volatile with a number of external factors continuing to pose challenges to the global economy and to our business, including:
Current wording
As 2026 progresses, the economic and market environment remains volatile with several external factors continuing to pose challenges to the global economy and to our business, including:
Previous wording
•Continuing global economic disruption due to geopolitical conflicts, as well as increased local disruptions due to political or security issues. The continuing conflict in the Middle East has increased global fuel prices, resulting in higher transportation costs; and continues to create uncertainty with respect to future direct and indirect input costs;
Current wording
•Continuing global economic disruption due to geopolitical conflicts, as well as increased local disruptions due to political or security issues. The continuing conflict in the Middle East has increased global fuel prices, resulting in higher transportation costs creating uncertainty with respect to future direct and indirect input costs;
Previous wording
•Evolving and dynamic global trade policies, including but not limited to the imposition (and any future imposition) of tariffs and their impact on supply chains and logistics, the relative cost to get each product to market, demand patterns, foreign exchange rates and other areas;
Current wording
•Evolving and dynamic global trade policies, including but not limited to the imposition (and any future imposition) of tariffs and their impact on supply chains and logistics, the relative cost of bringing product to market, demand patterns, foreign exchange rates and other areas;
Previous wording
•Weather events, including the supply chain impacts of the 2024 tropical storms in Honduras;
Current wording
•Weather events, including the supply chain impacts of the 2024 tropical storms in Honduras and more recently the strong El Niño;
Previous wording
•Crop disease pressures which put pressure on yields and supply and also on growing and sourcing costs; and
Current wording
•Crop disease which puts pressure on yields and supply and increases growing and sourcing costs; and
Previous wording
In response to the various ongoing challenges noted above, we are continuing to work across our business on mitigation strategies, including working with customers and suppliers to manage possible impacts of changes in input costs, adjusting pricing, identifying operational efficiencies and making strategic investments where deemed appropriate. Although we ultimately believe that we are well positioned within our industry to weather periods of economic disruption, the scope, duration and carry over effects of the above factors are uncertain, rapidly changing and difficult to predict. Therefore, the extent and magnitude of the impact of these factors on our business, operating results and long-term liquidity position cannot be reliably estimated at this time.
Current wording
In response to the various ongoing challenges noted above, we are continuing to work across our business on mitigation strategies, including working with customers and suppliers to manage possible impacts of changes in input costs, adjusting pricing, identifying operational efficiencies and making strategic investments where appropriate. Although we ultimately believe that we are well positioned within our industry to weather periods of economic disruption, the scope, duration and carry-over effects of the above factors are uncertain, rapidly changing and difficult to predict. Therefore, the extent and magnitude of the impact of these factors on our business, operating results and long-term liquidity position cannot be reliably estimated at this time.
Previous wording
In addition, we are continuing to monitor the direct and indirect effects of ongoing and emerging geopolitical conflicts, on both the global economy and our business and operations. The broader consequences of these issues have given, and will continue to give rise to, certain challenges for our business but any resulting impacts have not been and are not currently expected to be material to Dole’s overall results.
Current wording
In addition, we are continuing to monitor the direct and indirect effects of ongoing and emerging geopolitical conflicts, on both the global economy and our business and operations. The broader consequences of these issues have given rise, and will continue to give rise, to certain challenges for our business but any resulting impacts have not been and are not currently expected to be material to Dole’s overall results.
Previous wording
Selected results of operations for the three and six months ended June 30, 2026 and June 30, 2025 were as follows:
Current wording
Selected results of operations for the three and nine months ended September 30, 2026 and September 30, 2025 were as follows:
Previous wording
The increase in total revenue, net, for the three months ended June 30, 2026 (2.9%, or $71.0 million) was primarily due to positive operational performance in the Diversified Fresh Produce – Americas & ROW segment and a favorable impact from foreign currency translation of $30.3 million, as a result of the strengthening of the Swedish krona and euro against the U.S. Dollar when compared to prior year.
Current wording
The increase in total revenue, net, for the nine months ended September 30, 2026 (5.9%, or $401.0 million) was primarily due to positive operational performance in the Diversified Fresh Produce – Americas & ROW and Diversified Fresh Produce – EMEA segments, a favorable impact from foreign currency translation of $120.2 million, as a result of the strengthening of the Swedish krona, euro and the British pound sterling against the U.S. Dollar when compared to prior year, and a net positive impact from acquisitions and divestitures of $47.4 million primarily as a result of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment at the beginning of the third quarter. Revenue in the Fresh Fruit segment was marginally behind prior year due to accrued tariff refunds, lower banana volumes in North America and lower pineapple volumes across all markets due to adverse weather conditions affecting fruit availability. These decreases were partially offset by higher underlying pricing in bananas and pineapples as well as higher banana volumes in Europe and higher plantain volumes in North America.
Previous wording
The increase in total cost of sales for the three months ended June 30, 2026 (4.3%, or $94.0 million) was primarily due to increased trading activity in the Diversified Fresh Produce – Americas & ROW segment and an unfavorable impact from foreign currency translation. Additionally, in the Fresh Fruit segment, cost of sales increased due to higher fruit sourcing costs, elevated shipping costs in both European and North American markets due to higher fuel costs, higher pineapple growing costs resulting from adverse weather conditions, as well as the continued strengthening of the Costa Rican Colón against the U.S. Dollar.
Current wording
The increase in total cost of sales for the three months ended September 30, 2026 (3.5%, or $73.8 million) was primarily due to increased trading activity in the Diversified Fresh Produce – Americas & ROW and Diversified Fresh Produce – EMEA segments and the incremental impact of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment. In the Fresh Fruit segment, cost of sales decreased by the impact of tariff refunds received or approved by the U.S. government, partially offset by higher pineapple growing and sourcing costs resulting from adverse weather conditions, as well as the continued strengthening of the Costa Rican Colón against the U.S. Dollar, and continued elevated shipping and logistics costs due to higher fuel costs.
Previous wording
The increase in total cost of sales for the six months ended June 30, 2026 (8.1%, or $334.0 million) was primarily due to increased trading activity for all reporting segments and an unfavorable impact from foreign currency translation. Additionally, in the Fresh Fruit segment, cost of sales increased due to higher fruit costs in bananas due to higher overall sourcing costs in the market, higher fruit sourcing costs in pineapples, due to a combination of the strengthening of the Costa Rican Colón against the U.S. Dollar resulting in increasing input costs, and more recently the impact of adverse weather conditions reducing supply. In addition, the impact of rising fuel costs has adversely impacted shipping costs.
Current wording
The increase in total cost of sales for the nine months ended September 30, 2026 (6.5%, or $407.7 million) was primarily due to increased trading activity in the Diversified Fresh Produce – Americas & ROW and Diversified Fresh Produce – EMEA segments, an unfavorable impact from foreign currency translation and the incremental impact of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment. Additionally, in the Fresh Fruit segment, cost of sales increased due to higher fruit costs in bananas due to higher overall sourcing costs in the market and higher fruit sourcing costs in pineapples, due to a combination of the impact of adverse weather conditions reducing supply and the strengthening of the Costa Rican Colón against the U.S. Dollar resulting in increasing input costs. In addition, the impact of rising fuel costs has adversely impacted shipping and logistics costs. These increases in the Fresh Fruit segment were partially offset by the impact of tariff refunds received or approved by the U.S. government.
Previous wording
The increase in total SMG&A for the six months ended June 30, 2026 (12.2%, or $29.5 million) was primarily due to a non-recurring charge associated with the settlement of a historical legal matter and the impact of foreign current translation in the period partially offset by benefit from a partial restructuring of our operations in the Diversified Fresh Produce – Americas & ROW segment.
Current wording
The increase in total SMG&A for the three months ended September 30, 2026 (3.1%, or $3.8 million) was primarily due to the incremental impact of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment, partially offset by benefit from a partial restructuring of our operations in the Diversified Fresh Produce – Americas & ROW segment.
Previous wording
The increase in total SMG&A for the three months ended June 30, 2026 (19.4%, or $24.1 million) was primarily due to a non-recurring charge associated with the settlement of a historical legal matter, some restructuring costs in the quarter and the impact of foreign current translation in the period partially offset by benefit from a partial restructuring of our operations in the Diversified Fresh Produce – Americas & ROW segment.
Current wording
The increase in total SMG&A for the nine months ended September 30, 2026 (9.1%, or $33.3 million) was primarily due to a non-recurring charge associated with the settlement of a historical legal matter, the incremental impact of the Greenfood Acquisition in the Diversified Fresh Produce – EMEA segment and the impact of foreign currency translation and restructuring costs in the period, partially offset by benefit from a partial restructuring of our operations in the Diversified Fresh Produce – Americas & ROW segment.
Previous wording
There was an immaterial loss on disposal of businesses for the three months ended June 30, 2026. The gain on disposal of businesses for the six months ended June 30, 2026 was $1.2 million and was primarily due to the disposal of a controlling interest in a business in South Africa within the Diversified Fresh Produce – EMEA segment. We have retained an equity method investment in the business.
Current wording
The gain on disposal of businesses for the three months ended September 30, 2026 was $48.6 million and was primarily related to the Port Sale Transaction within the Fresh Fruit segment. The gain on disposal of businesses for the nine months ended September 30, 2026 was $49.7 million and was primarily related to the Port Sale Transaction and the disposal of a controlling interest in a business in South Africa within the Diversified Fresh Produce – EMEA segment.
Previous wording
The gain on asset sales for the three and six months ended June 30, 2026 was $0.7 million and $1.4 million, respectively, and was primarily the result of the sale of certain properties in the Diversified Fresh Produce – Americas & ROW and Diversified Fresh Produce – EMEA segments, as well as the sale of certain property, plant and equipment across all reportable segments.
Current wording
The gain on asset sales for the three months ended September 30, 2026 was $2.0 million and was primarily the result of the sale of certain properties in the Diversified Fresh Produce – EMEA and Fresh Fruit segments, as well as the sale of certain property, plant and equipment across all reportable segments. The gain on asset sales for the nine months ended September 30, 2026 was $3.3 million and was primarily the result of the sale of certain properties in the Diversified Fresh Produce – Americas & ROW, Diversified Fresh Produce – EMEA and Fresh Fruit segments, as well as the sale of certain property, plant and equipment across all reportable segments.
Previous wording
The gain on asset sales for the three and six months ended June 30, 2025 was $9.3 million and $13.1 million, respectively, which was primarily the result of the sale of actively marketed land in Hawaii, part of the Fresh Fruit segment, as well as the sale of certain property, plant and equipment across all reportable segments.
Current wording
The gain on asset sales for the three months ended September 30, 2025 was not material. The gain on asset sales for the nine months ended September 30, 2025 was $14.0 million and was primarily the result of the sale of actively marketed land in Hawaii, part of the Fresh Fruit segment, the sale of certain properties and machinery and equipment in the Diversified Fresh Produce – Americas & ROW segment and the sale of certain properties in the Diversified Fresh Produce – EMEA segment.
Previous wording
The impairment and asset write-downs of property, plant and equipment and lease assets for the six months ended June 30, 2026 was $1.1 million, which was related to asset write-downs of certain property, plant and equipment across all reportable segments. The impairment and asset write-downs of property, plant and equipment and lease assets for the three months ended June 30, 2026 and three and six months ended June 30, 2025 was immaterial.
Current wording
The impairment and asset write-downs of property, plant and equipment and lease assets for the three months ended September 30, 2026 was $2.9 million, which was primarily related to a loss in actively marketed property in Hawaii in the Fresh Fruit segment to recognize land at estimated fair value, less costs to sell. The impairment and asset write-downs of property, plant and equipment and lease assets for the nine months ended September 30, 2026 was $4.0 million, which was primarily related to the loss in actively marketed property in Hawaii in the Fresh Fruit segment and asset write-downs of certain property, plant and equipment across all reportable segments.
Previous wording
Other income (expense), net increased to income of $3.9 million in the three months ended June 30, 2026 from expense of $18.7 million in the three months ended June 30, 2025. The increase was primarily due to higher net unrealized gains on foreign currency denominated borrowings (in comparison unrealized losses incurred in the prior year). The prior year was also negatively impacted by the incremental nonrecurring net expenses in connection with the Refinancing. These increases were offset partially by higher net losses of other mark to market instruments and higher net periodic costs from non-service components of pension and other postretirement benefit plans.
Current wording
Other (expense) income, net decreased to an expense of $0.1 million in the three months ended September 30, 2026 from income of $12.6 million in the three months ended September 30, 2025. The decrease was primarily due to insurance proceeds of $10.0 million recognized in the prior year related to Tropical Storm Sara, higher net periodic costs from non-service components of pension and other postretirement plans and lower miscellaneous income, offset partially by higher rental income in the current year.
Previous wording
Other income (expense), net increased to income of $8.4 million in the six months ended June 30, 2026 from expense of $19.1 million in the six months ended June 30, 2025. The increase was primarily due to higher net unrealized gains on foreign currency denominated borrowings (in comparison unrealized losses incurred in the prior year). The prior year was also negatively impacted by the incremental nonrecurring net expenses in connection with the Refinancing. These increases were offset partially by higher net losses of other mark to market instruments, higher net periodic costs from non-service components of pension and other postretirement benefit plans, lower rental income and other miscellaneous costs.
Current wording
Other (expense) income, net increased to income of $8.4 million in the nine months ended September 30, 2026 from expense of $6.5 million in the nine months ended September 30, 2025. The increase was primarily due to higher net unrealized gains on foreign currency denominated borrowings (in comparison to unrealized losses incurred in the prior year). The prior year was also negatively impacted by the incremental nonrecurring net expenses in connection with the Refinancing. These increases were offset partially by higher net losses of other mark to market instruments, higher net periodic costs from non-service components of pension and postretirement benefit plans, lower miscellaneous income and the impacts of the insurance proceeds recognized in the prior year.
Previous wording
See Note 7 “Other Income (Expense), Net” to the unaudited condensed consolidated financial statements included herein for additional detail.
Current wording
See Note 7 “Other (Expense) Income, Net” to the unaudited condensed consolidated financial statements included herein for additional detail.
Previous wording
The increase in interest income for the three months ended June 30, 2026 (47.8%, or $1.4 million) and six months ended June 30, 2026 (43.0%, or $2.6 million) was primarily due to interest income recognized on the seller note received as consideration for the Vegetables Transaction.
Current wording
The increase in interest income for the three months ended September 30, 2026 was not material. The increase in interest income for the nine months ended September 30, 2026 (30.2%, or $2.9 million) was primarily due to interest income recognized on the seller note received as consideration for the Vegetables Transaction.
Previous wording
The decrease in interest expense for the six months ended June 30, 2026 (20.9%, or $7.3 million) was mainly due to lower effective interest rates in the current year in comparison to the prior year.
Current wording
The decrease in interest expense for the three months ended September 30, 2026 (10.6%, or $1.8 million) and the nine months ended September 30, 2026 (17.6%, or $9.0 million) was due to both lower debt balances and lower effective interest rates in the current year in comparison to the prior year.
Previous wording
The Company recorded income tax expense of $14.8 million on $40.9 million of income from continuing operations before income taxes and equity earnings for the three months ended June 30, 2026, reflecting a 36.2% effective tax rate. The Company recorded income tax expense of $25.5 million on $69.9 million of income from continuing operations before income taxes and equity earnings for the three months ended June 30, 2025, reflecting a 36.5% effective tax rate.
Current wording
The Company recorded income tax expense of $34.1 million on $77.8 million of income from continuing operations before income taxes and equity earnings for the three months ended September 30, 2026, reflecting a 43.8% effective tax rate. The Company recorded income tax expense of $6.1 million on $23.6 million of income from continuing operations before income taxes and equity earnings for the three months ended September 30, 2025, reflecting a 25.8% effective tax rate.
Previous wording
The Company recorded income tax expense of $36.8 million on $99.0 million of income from continuing operations before income taxes and equity earnings for the six months ended June 30, 2026, reflecting a 37.2% effective tax rate. The Company recorded income tax expense of $43.1 million on $123.4 million of income from continuing operations before income taxes and equity earnings for the six months ended June 30, 2025, reflecting a 34.9% effective tax rate.
Current wording
The Company recorded income tax expense of $70.9 million on $176.7 million of income from continuing operations before income taxes and equity earnings for the nine months ended September 30, 2026, reflecting a 40.1% effective tax rate. The Company recorded income tax expense of $49.2 million on $147.0 million of income from continuing operations before income taxes and equity earnings for the nine months ended September 30, 2025, reflecting a 33.5% effective tax rate.
Previous wording
Dole’s effective tax rate varies significantly from period to period due to the level, mix and seasonality of earnings generated in Ireland and its various foreign jurisdictions, including the U.S. For the three and six months ended June 30, 2026, the Company’s income tax expense differed from the Irish statutory rate of 12.5% primarily due to U.S. NCTI provisions under Section 951A of the Internal Revenue Code, U.S. Subpart F income inclusion, an increase in liabilities for uncertain tax positions, a net increase in valuation allowances, the impacts of Pillar Two and operations in foreign jurisdictions that are taxed at different rates than the Irish statutory tax rate. For the three and six months ended June 30, 2025, the Company’s income tax expense differed from the Irish statutory rate of 12.5% primarily due to U.S. GILTI provisions of the Tax Act, U.S. Subpart F income inclusion, a decrease in liabilities for uncertain tax positions, the impacts of Pillar Two and operations in foreign jurisdictions that are taxed at different rates than the Irish statutory tax rate.
Current wording
Dole’s effective tax rate varies significantly from period to period due to the level, mix and seasonality of earnings generated in Ireland and its various foreign jurisdictions, including the U.S. For the three and nine months ended September 30, 2026, the Company’s income tax expense differed from the Irish statutory rate of 12.5% primarily due to U.S. NCTI provisions under Section 951A of the Internal Revenue Code, U.S. Subpart F income inclusion, an increase in liabilities for uncertain tax positions, a net increase in valuation allowances, the impacts of Pillar Two, taxes related to the sale of the Ecuadorian Port Business, and operations in foreign jurisdictions that are taxed at different rates than the Irish statutory tax rate. For the three and nine months ended September 30, 2025, the Company’s income tax expense differed from the Irish statutory rate of 12.5% primarily due to U.S. GILTI provisions of the Tax Act, U.S. Subpart F income inclusion, a decrease in liabilities for uncertain tax positions, the impacts of Pillar Two and operations in foreign jurisdictions that are taxed at different rates than the Irish statutory tax rate.
Previous wording
One of the Company’s foreign subsidiaries is under tax audit for the year ended December 31, 2017. In 2023, the tax authorities issued an assessment of approximately $23.5 million, including interest and penalties. The Company appealed the assessment through the administrative process, which concluded in November 2025 with an unfavorable ruling. A court-ordered stay of enforcement of payment has been granted, subject to the provision of a guarantee. Based on an analysis of the relevant facts, local law, and precedent, the Company believes it is more likely than not to prevail at the judicial level. The timing of final resolution is uncertain and may take several years.
Current wording
One of the Company’s foreign subsidiaries is under tax audit for the year ended December 31, 2017. In 2023, the tax authorities issued an assessment of approximately $23.5 million, including interest and penalties. The Company appealed the assessment through the administrative process, which concluded in November 2025 with an unfavorable ruling. A court-ordered stay of enforcement of payment has been granted, subject to the provision of a guarantee. In the three months ended September 30, 2026, the Company was notified that an oral and public trial hearing has been preliminarily scheduled for March 2028. Based on an analysis of the relevant facts, local law, and precedent, the Company believes it is more likely than not to prevail at the judicial level. The timing of final resolution is uncertain and may take several years.
Previous wording
On July 4, 2025, the U.S. OBBBA was enacted. Management is assessing the tax provisions of the OBBBA and its impacts on the Company. The effective dates of the provisions of the OBBBA are between 2025 and 2027. The impacts to Dole’s results of operations, financial position and cash flows were not material for the three and six months ended June 30, 2026. The Company will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.
Current wording
On July 4, 2025, the U.S. OBBBA was enacted. Management is assessing the tax provisions of the OBBBA and its impacts on the Company. The effective dates of the provisions of the OBBBA are between 2025 and 2027. The impacts to Dole’s results of operations, financial position and cash flows were not material for the three and nine months ended September 30, 2026. The Company will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.
Previous wording
Equity method earnings increased to $9.1 million in the three months ended June 30, 2026 from $8.5 million in the three months ended June 30, 2025. The increase was primarily due to improved performance across our joint ventures in the Fresh Fruit segment.
Current wording
Equity method earnings decreased to $4.6 million in the three months ended September 30, 2026 from $6.6 million in the three months ended September 30, 2025. The decrease was primarily due to lower performance across our joint ventures within the Fresh Fruit and Diversified Fresh Produce – EMEA segments. This decrease was partially offset by the gain on sale of an equity method investments within the Diversified Fresh Produce – EMEA segment.
Previous wording
Equity method earnings decreased to $10.7 million in the six months ended June 30, 2026 from $16.8 million in the six months ended June 30, 2025. The prior year was positively impacted by a divestiture of a portion of ownership shares in an investment located in the U.S. in which the Company recognized a $6.9 million gain, net of income tax. On an underlying basis, there was an increase primarily due to improved performance across our joint ventures in the Fresh Fruit segment.
Current wording
Equity method earnings decreased to $15.3 million in the nine months ended September 30, 2026 from $23.4 million in the nine months ended September 30, 2025. The prior year was positively impacted by a divestiture of a portion of ownership shares in an investment located in the U.S. in which the Company recognized a $6.9 million gain, net of income tax. On an underlying basis, the decrease was primarily due to lower performance across our joint ventures within the Fresh Fruit and Diversified Fresh Produce – EMEA segments.
Previous wording
There was no current year activity from discontinued operations. Results from discontinued operations for the three and six months ended June 30, 2025 was a loss of $35.0 million and a loss of $34.9 million, respectively. The losses in the prior year were primarily related to adjustments of the carrying value of the Fresh Vegetables division to its estimated fair value, less costs to sell, in accordance with held-for-sale disposal group measurement guidance.
Current wording
There was no current year activity from discontinued operations. Results from discontinued operations for the three and nine months ended September 30, 2025 were a loss of $10.2 million and a loss of $45.2 million, respectively. The loss for the three months ended September 30, 2025 was primarily related to the loss on disposal of the Fresh Vegetables division. The loss for the nine months ended September 30, 2025 was primarily related to the loss on disposal, as well as adjustments of the carrying value of the Fresh Vegetables division to its estimated fair value, less costs to sell, in accordance with held-for-sale disposal group measurement guidance.
Previous wording
In the three months ended June 30, 2026, net income attributable to noncontrolling interests increased to $9.1 million from $8.0 million in the three months ended June 30, 2025. The increase was primarily related to an increase in the non-controlling interests share of earnings in our Diversified Fresh Produce – Americas & ROW segment.
Current wording
In the three months ended September 30, 2026, net income attributable to noncontrolling interests increased to $9.8 million from $8.7 million in the three months ended September 30, 2025. The increase was primarily related to an increase in the non-controlling interests share of earnings in our Diversified Fresh Produce – Americas & ROW segment.
Previous wording
In the six months ended June 30, 2026, net income attributable to noncontrolling interests increased to $15.6 million from $13.3 million in the six months ended June 30, 2025. The prior year was impacted by the noncontrolling interest share of gain on disposal of an equity method investment as described above, the non-controlling interests share of mark-to-market gains on financial instruments as well as the impact of a discrete tax charge attributable to noncontrolling interests. On an underlying basis, there was an increase in the current year net income attributable to noncontrolling interests due to an increase in the non-controlling interests share of earnings in the Diversified Fresh Produce – Americas & ROW segment and in the Diversified Fresh Produce – EMEA segment, which included a positive benefit from currency translation.
Current wording
In the nine months ended September 30, 2026, net income attributable to noncontrolling interests increased to $25.4 million from $22.0 million in the nine months ended September 30, 2025. The prior year was impacted by the noncontrolling interest share of gain on disposal of an equity method investment as described above as well as the impact of a discrete tax charge attributable to noncontrolling interests. On an underlying basis, there was an increase in the current year net income attributable to noncontrolling interests due to an increase in the non-controlling interests share of earnings in the Diversified Fresh Produce – Americas & ROW segment.
Previous wording
Adjusted EBITDA is reconciled from net income by taking consolidated net income and (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 six months ended June 30, 2026 and June 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.
Current wording
Adjusted EBITDA is reconciled from net income by taking consolidated net income and (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.
Previous wording
The following tables illustrate the estimated impact of factors that have driven changes in segment revenues for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025:
Current wording
The following tables illustrate the estimated impact of factors that have driven changes in segment revenues for the three and nine months ended September 30, 2026, as compared to the three and nine months ended September 30, 2025:
Previous wording
The following tables illustrate the estimated impact of factors that have driven changes in segment Adjusted EBITDA for the three months ended June 30, 2026, as compared to the three months ended June 30, 2025:
Current wording
The following tables illustrate the estimated impact of factors that have driven changes in segment Adjusted EBITDA for the three and nine months ended September 30, 2026, as compared to the three and nine months ended September 30, 2025:
Previous wording
Changes in segment revenue and segment Adjusted EBITDA are described in more detail below, with focus on operational changes which we believe are more reflective of the Company’s performance in comparison to the prior year. Unless otherwise noted, the changes discussed below are for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025.
Current wording
Changes in segment revenue and segment Adjusted EBITDA are described in more detail below, with focus on operational changes which we believe are more reflective of the Company’s performance in comparison to the prior year. Unless otherwise noted, the changes discussed below are for the three and nine months ended September 30, 2026, as compared to the three and nine months ended September 30, 2025.
Previous wording
Fresh Fruit revenue, net, for the three months ended June 30, 2026 of $972.8 million is in line with prior year. Higher volumes of bananas sold in Europe and higher underlying banana pricing in North America were partially offset by lower banana volumes in North America. Pineapple volumes were lower across all markets, primarily due to adverse weather conditions affecting fruit availability.
Current wording
The decrease in Fresh Fruit revenue, net, for the nine months ended September 30, 2026 (0.4%, or $11.9 million) to $2.7 billion was primarily due to accrued tariff refunds, lower banana volumes in North America and lower pineapple volumes across all markets due to adverse weather conditions affecting fruit availability. These decreases were partially offset by higher underlying pricing in bananas and pineapples, as well as higher banana volumes in Europe and higher plantain volumes in North America.
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Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
We do not expect the sale to have other material direct or indirect impacts to our current or future operating results, statement of financial position and cash flows.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
The increase in total revenue, net, for the six months ended June 30, 2026 (6.9%, or $313.8 million) was primarily due to positive operational performance across all reportable segments and a favorable impact from foreign currency translation of $126.5 million, as a result of the strengthening of the Swedish krona, euro and the British pound sterling against the U.S. Dollar when compared to prior year.
Previous report — wording carried elsewhere
Gain (Loss) on Disposal of Businesses
Previous report — wording carried elsewhere
The decrease in interest expense for the three months ended June 30, 2026 (15.2%, or $2.7 million) was due to
Previous report — wording carried elsewhere
both lower debt balances and lower effective interest rates in the current year in comparison to the prior year.