Dole (DOLE) Q4 2025 earnings summary

Executive summary

• Achieved strong operating results for 2025, with Adjusted EBITDA of $395.4 million, surpassing guidance.

• Completed sale of Fresh Vegetables business and agreed to sell Ecuador port assets for $75 million.

• Launched Colada Royale pineapple, supporting category growth and winning industry awards.

• Renewed $1.2 billion credit facilities and authorized up to $100 million in share repurchases.

• Transitioned to U.S. Domestic Issuer filings, aiming for broader index inclusion and increased trading liquidity.

Financial highlights

• Full-year 2025 revenue rose 8.2% to $9.2 billion; Q4 revenue up 9.2% to $2.4 billion.

• Full-year net income was $82 million, down from $143.4 million due to non-operational items.

• Adjusted Net Income for 2025 was $115 million; Adjusted Diluted EPS was $1.20, down from $1.27.

• Q4 Adjusted EBITDA was $72.7 million; full-year Adjusted EBITDA was $395.4 million, up from $392.2 million.

• Free cash flow from continuing operations was $1.7 million for 2025, down from $180.3 million in 2024.

Outlook and guidance

• Targeting Adjusted EBITDA of at least $400 million for 2026, with profit streams expected to be more weighted to the second half.

• Routine capital expenditures projected at ~$100 million for 2026, in line with depreciation.

• Interest expense for 2026 expected to be ~$60 million.

• Free cash flow conversion expected to normalize at 30%-35% over the long term.

• Strategic priorities include strengthening core business, disciplined capital allocation, and cost control.