Dole has lowered its full-year profit guidance as fuel and shipping costs weigh on the fresh produce group.
The fresh produce company now expects full-year adjusted EBITDA of $380m to $390m, down from its previous target of approximately $400m.
“Fuel and shipping costs remain elevated and weather conditions, including the effects of El Niño, continue to affect fruit availability,” the group said reporting its third quarter 2026 financial results.
Higher shipping fuel costs in Europe are expected to have an impact of approximately $16m against its original forecast for 2026, Dole added.
Commenting on the results, Carl McCann, Dole executive chairman, said: “We are pleased with the group’s solid performance in the third quarter against a challenging operating backdrop.”
Revenue for the three months to 30 September increased 3.8% year on year to $2.37bn. Adjusted EBITDA rose 4.1% to $84.1m, while net income increased to $48.3m from $13.8m a year earlier.
Earnings were bolstered by a $48.6m gain on the sale of the New York-listed company’s Ecuador port, Dole said.
Across the first nine months of the year, revenue increased 5.9% year on year to $7.21bn. Adjusted EBITDA fell 6.7% to $301.1m, while net income rose 59.5% to $121.2m from $76.0m a year earlier.
By division in the third quarter, Fresh Fruit revenue fell 8% to $818.7m, as tariff-related impacts, lower banana volumes in North America and adverse weather affecting pineapple supply in Europe weighed on sales. However, adjusted EBITDA for the unit increased 6% to $28.8m.
Diversified Fresh Produce–EMEA revenue climbed 9.3% to $1.1bn, supported by the acquisition of Greenfood Fresh Produce.
Dole completed the takeover of the Nordic fruit and vegetable wholesaler on 2 July, finalising a deal first agreed in December 2025 to expand its regional reach.
Segment adjusted EBITDA, however, fell 3.1% to $39.5m.
In Diversified Fresh Produce–Americas & ROW, revenue increased 14.1% to $479.2m, while adjusted EBITDA rose 22.8% to $15.8m, driven by volume growth across North America.
McCann added: “The strategic actions we have taken over the last 18 months have strengthened our business, leaving Dole a more focused company today, with greater financial flexibility to support our continued development.”
