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 strong diversified segments and favorable FX, offsetting fresh fruit cost headwinds.

• Net income declined to $13.8 million, mainly due to a $10.2 million loss from discontinued operations (Fresh Vegetables division).

• Sale of the Fresh Vegetable division completed in August for $140 million, providing $68 million in net cash proceeds used to reduce debt and enhance strategic focus.

• Board approved up to $100 million in share repurchases and declared a $0.085 per share dividend for Q3 2025.

• Launch of the Collada Royale Pineapple, a new high-margin, non-GMO product, marked a significant innovation milestone.

Financial highlights

• Q3 2025 revenue was $2.3 billion, up 10.5% year-over-year (like-for-like 8.2%), with strong growth across segments.

• Net income for Q3 2025 was $13.8 million, down from $21.5 million in Q3 2024, with adjusted net income at $15.0 million.

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

• 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 macroeconomic volatility and industry-specific headwinds.

• Routine capital expenditure guidance for 2025 reduced to approximately $85 million, with an additional $25 million for Honduras farm rehabilitation covered by insurance.

• Interest expense guidance unchanged at about $67 million.