Dole (DOLE) Q3 2025 earnings summary

Executive summary

• Q3 2025 results were in line with market expectations, with 10.5% revenue growth to $2.3 billion, driven by diversified segments offsetting fresh fruit cost pressures.

• Sale of the Fresh Vegetable division in August 2025 for $140 million provided strategic focus and capital flexibility, with $68 million in net proceeds used to reduce debt.

• Board authorized a $100 million share repurchase program and declared a $0.085 per share dividend for Q3 2025.

• Launch of the Collada Royale Pineapple, a premium non-GMO product developed over 15 years, is expected to boost margins and brand differentiation.

• Net income declined to $13.8 million, mainly due to losses from discontinued operations.

Financial highlights

• Q3 2025 revenue was $2,279 million, up 10.5% year-over-year, with like-for-like growth of 8.2%.

• Net income for Q3 2025 was $13.8 million, down from $21.5 million in Q3 2024, impacted by a $10.2 million loss from discontinued operations.

• Adjusted EBITDA for Q3 2025 was $80.8 million, down 1.6% year-over-year, mainly due to fresh fruit segment declines.

• Adjusted diluted EPS was $0.16, down from $0.19 year-over-year.

• Free cash flow from continuing operations for Q3 2025 was $66.5 million.

Outlook and guidance

• Full-year 2025 Adjusted EBITDA is expected at the upper end of the $380–$390 million range, despite ongoing cost pressures in fresh fruit.

• Q4 is expected to face continued headwinds from higher sourcing costs, especially in bananas, but overall guidance remains robust.

• Routine capital expenditure for 2025 is expected at ~$85 million, with an additional ~$25 million for Honduras farm rehabilitation, covered by insurance.

• Interest expense guidance for the full year is ~$67 million.

• No undue concern for 2026, though it is too early for detailed guidance; market expected to adjust to supply-demand imbalances.