Group reports year-on-year revenue growth for the opening quarter, although net income is down on 2025
Dole has revealed its results for the first quarter of 2026 (Q1), highlighting higher revenue and “robust consumer demand” across key markets.
Revenue climbed 11.6 per cent year-on-year to US$2.34bn from US$2.1bn in Q1 2025.
Dole said this was primarily due to positive operational performance across all segments – mainly due to higher worldwide pricing in the fresh fruit sector – and a favourable impact from foreign currency translation of US$96.2mn.
Gross profit increased US$2.8mn, primarily due to higher revenue, partially offset by higher cost of sales which were impacted by higher fruit sourcing costs in the fresh fruit segment.
The group said that net income decreased to US$37.7mn from US$44.2mn in the prior year.
This, it outlined, was due to lower operating income, higher tax charges and lower equity method earnings, as the prior year included the benefit of a non-cash gain of US$6.9mn on an M&A transaction relating to an equity method investment.
These decreases were partially offset by an increase in other income due primarily to fair value adjustments of financial instruments and lower interest expense.
Net income attributable to Dole fell from US$38.9mn last year to US$31.3mn.
“We are pleased with our solid start to the year,” said executive chairman Carl McCann.
”Robust consumer demand in our key markets is driving revenue growth and contributing to positive momentum across the group.
”While we are experiencing complexity in the operating environment due to the ongoing conflict in the Middle East, we believe the strength of our broad and resilient business model positions us well to manage these evolving conditions,” he noted.
”We continue to target full year adjusted EBITDA of at least US$400mn.”
