Core profitability declined despite strong top-line growth, with Fresh Fruit margins under pressure from sourcing costs and Middle East conflict. The maintained $400M+ EBITDA target provides a floor, but Q2 cost headwinds and rising leverage (1.7x) warrant caution. Monitor Q2 guidance update and Ecuador port sale proceeds (~$75M expected) for deleveraging catalyst.
Price Chart
Executive Summary
Dole plc reported Q1 2026 revenue of $2.34B (+11.6% YoY) but GAAP diluted EPS fell to $0.33 from $0.41 YoY, and Adjusted EBITDA declined 4.3% to $100.3M. The company maintained its full-year Adjusted EBITDA target of at least $400M but flagged Middle East conflict-driven cost headwinds for Q2. Revenue growth was driven by pricing and FX, while core profitability declined on higher fruit sourcing costs.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $2.34B, +11.6% YoY ($2.10B), +7.0% on a like-for-like basis
- GAAP diluted EPS $0.33 vs $0.41 YoY (-19.5%)
- Adjusted EBITDA $100.3M, -4.3% vs $104.8M YoY; in line with company expectations
- Fresh Fruit segment Adjusted EBITDA fell 17.0% to $52.6M on higher fruit sourcing costs
- Net Debt increased to $657.1M from $606.5M at year-end; Net Leverage 1.7x vs 1.5x
- Full-year 2026 Adjusted EBITDA target maintained at 'at least $400M'
- Interest expense guidance reduced by $2M to ~$58M for FY2026
- Company repurchased 306,570 shares for $4.6M during Q1; $95.4M remaining on buyback authorization
- Regulatory approval received post-quarter for sale of port in Ecuador; completion expected before end of Q2 2026
Financial Impact
Adjusted EBITDA declined ~$4.5M YoY on higher fruit costs; net debt increased ~$50.6M from year-end; FCF outflow improved to -$40.2M from -$131.6M YoY
Risk Factors
- Middle East conflict driving higher shipping and fuel costs in Q2, particularly in Fresh Fruit
- Fresh Fruit segment EBITDA down 17% YoY on elevated sourcing costs and Costa Rican colon strength
- Net leverage increased to 1.7x from 1.5x; net debt up $50.6M since year-end
- Free cash flow negative for third consecutive quarter (-$40.2M in Q1 2026)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001857475-26-000049 |
| Document: dole-20260511.htm | 0001857475-26-000049 |
| Document: 0001857475-26-000049-index-headers.html | 0001857475-26-000049 |
| Document: 0001857475-26-000049-index.html | 0001857475-26-000049 |
| Document: 0001857475-26-000049.txt | 0001857475-26-000049 |
| 8-K Data (Synthetic) | 0001857475-26-000049 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 2d ago | 8-K | $13.55 | awaiting T+5 | — | $13.44 (−0.81%) |
Oct 22, 2026 3d ago | Insider Buy | $13.52 | awaiting T+5 | — | $13.44 (−0.59%) |
Oct 14, 2026 11d ago | Insider Buy | $13.41 $13.52 | ▲ +0.82% | ▲ +1.83% | $13.44 (+0.22%) |
Oct 14, 2026 11d ago | SC 13D/A | $13.41 $13.52 | ▲ +0.82% | ▲ +1.83% | $13.44 (+0.22%) |
Aug 10, 2026 11w ago | 8-K | $12.98 $12.93 | ▲ +0.39% | ▲ +0.34% | $13.44 (−3.54%) |
May 11, 2026 24w ago | 8-K | $15.21 $14.24 | ▲ +6.38% | ▲ +6.29% | $13.44 (+11.64%) |
Apr 7, 2026 28w ago | 8-K | $15.13 $14.93 | ▼ −1.32% | ▼ −4.84% | $13.44 (−11.17%) |
Feb 25, 2026 34w ago | 8-K | $15.56 $15.36 | ▼ −1.28% | ▼ −0.18% | $13.44 (−13.62%) |
US Market Status
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