Dole PLC (DOLE) Q4 2025 Earnings Call Highlights: Strong Revenue Growth Amidst Challenges

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Thu, February 26, 2026 at 4:00 AM GMT+9 4 min read

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**Adjusted EBITDA:** $395 million for the full year 2025, ahead of guidance.

**Revenue:** $2.4 billion in Q4, a 9.2% increase year-over-year; full year revenue increased 8.2% to $9.2 billion.

**Net Income:** $6 million in Q4, compared to a loss of $31.6 million in the prior year; full year net income decreased to $82 million from $143 million.

**Adjusted Net Income:** Decreased by $1.5 million in Q4; full year adjusted net income decreased by $5.9 million to $115 million.

**Adjusted Diluted EPS:** $1.20 for the full year, compared to $1.27 in 2024.

**Fresh Fruit Segment EBITDA:** $189 million for the full year.

**Diversified Fresh Produce Segment EBITDA:** $150 million for the full year, a 14% increase year-over-year.

**Diversified Americas Segment EBITDA:** 21% increase for the full year; Q4 adjusted EBITDA increased by 32%.

**Interest Expense:** $66.5 million for the full year, expected to be approximately $60 million in 2026.

**Net Cash Provided by Operating Activities:** $123 million for 2025.

**Cash Capital Expenditure:** $28.4 million in Q4; $121.5 million for the full year.

**Free Cash Flow:** $1.7 million for the full year, excluding certain items rises to $81 million.

**Dividend:** $8.05 declared for the fourth quarter.

**Share Repurchase Program:** $4.5 million spent repurchasing shares post year-end.

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Release Date: February 25, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Dole PLC (NYSE:DOLE) reported strong operating results for 2025 with an adjusted EBITDA of $395 million, exceeding their guidance.

The company successfully exited the fresh vegetables business, selling it for $140 million, allowing a focus on core operations.

Dole PLC (NYSE:DOLE) launched Clado Royale, a new pineapple variety, which has been well-received and won multiple awards.

The company completed a $1.2 billion renewal of credit facilities, enhancing financial capacity for future growth.

Dole PLC (NYSE:DOLE) announced a $100 million share repurchase program, demonstrating confidence in its financial position.

Negative Points

The fresh fruit segment faced elevated sourcing costs for bananas, pineapples, and plantains, impacting profitability.

Net income for the full year decreased to $82 million from $143 million, due to non-operational and non-cash items.

The company experienced weather-related disruptions, particularly from Tropical Storm Sarah affecting Honduran production.

Adjusted net income decreased by $5.9 million for the full year, reflecting higher depreciation and lower interest expenses.

Free cash flow from continuing operations was only $1.7 million for the full year, indicating cash flow challenges.

 






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Q & A Highlights

Q: Rory, could you elaborate on the major factors influencing your 2026 outlook, especially regarding demand trends and fruit sourcing costs? A: Rory Byrne, CEO: The guidance for 2026 is challenging due to unpredictable factors. We had an exceptional performance in 2024, particularly in fresh fruit, which set a high benchmark. In 2025, we managed to exceed that. Supply dynamics remain complex, with weather issues affecting production. We’re in discussions with customers about pricing to reflect these dynamics. We expect a shift in profit streams towards the latter half of the year, targeting a minimum of $400 million in EBITDA.

Q: Jacinta, regarding cash flow, how should we think about conversion relative to the $400 million EBITDA target? A: Jacinta Devine, CFO: In 2025, non-recurring and seasonal items impacted free cash flow. We expect more normalized cash generation in 2026. Historically, we’ve seen free cash flow conversion between 30% and 35%. While we’ve outperformed this in recent years, we’re targeting more normalized levels for 2026.

Q: Rory, can you discuss the factors that could lead to achieving the higher end of your EBITDA target for 2026? A: Rory Byrne, CEO: Key factors include the performance of our diversified America’s division, particularly during the cherry season, and the integration of our North American marketing activities. Weather conditions have impacted production, but we expect these to balance out over the year. Our Honduran production will fully come online, and price modifications will filter in. These factors contribute to our $400 million EBITDA target.

Q: Regarding the Ecuador port asset sale, how does this impact your cost structure and capital allocation priorities? A: Rory Byrne, CEO: The Ecuador port is better suited to a specialized operator. We’ve entered a usage agreement that keeps our costs neutral. Our capital allocation focuses on dividends, opportunistic buybacks, and strategic investments, particularly in automation and production joint ventures. We prefer growth over shrinking the company.

Q: Can you outline the path to index inclusion following your financial reporting changes? A: Jacinta Devine, CFO: Our financial statements are now in domestic issuer format, aligning with our plan. We’re working towards inclusion in smaller S&P indices and MSCI indices. We believe we qualify for the S&P 600 and are already in the Russell index.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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