Dole Plc · NYSE:DOLE
Dole — Q1 2026 Earnings Presentation
28 slides from Dole's earnings presentation, May 11, 2026
Slide 1: Results Presentation Q1'26
Results Presentation Q1’26
Slide 2: Disclaimer
Disclaimer Today’s presentation includes forward-looking statements that reflect looking statements speak only as of the date on which such statements are Dole plc’s current views with respect to future events, financial made, and we do not undertake any obligation to update any forward- performance
Slide 3: Q1'26 Review & Development Update
Q1’26 Review & Development Update
Slide 4: Q1'26 Review
Q1’26 Review ▪ Solid start to the year: +12% revenue growth reflecting positive momentum across the Group ▪ Robust consumer demand across our key markets, supported by evolving dietary preferences, GLP-1 adoption, and broader health and wellness trends ▪ Adjusted EBITDA in line with our expectations
Slide 5: Development Investments
Development Investments Areas of investment focus Own Production & Sourcing Packing, Handling, Ripening ▪ Recent investments alongside ▪ Executing on investments JV partners; increased own across our operations production of bananas and ➢ Chile: Cherry and citrus plantains in Guatemala packing ▪ Chi
Slide 6: Capital Allocation Update
Capital Allocation Update ROUTINE • Q1 additions: $18 million CAPITAL • Target routine capital expenditure in line with annual EXPENDITURE depreciation expense DEVELOPMENT • Development investments and targeted bolt on M&A INVESTMENTS SHAREHOLDER • Quarterly dividend: 8.5 cent per share; implied yie
Slide 7: Operational Review Q1'26
Operational Review Q1’26
Slide 8: Fresh Fruit
Fresh Fruit • Strong category demand • Sourcing costs remain elevated across tropical categories • Appreciation of Costa Rica Colon impacting profitability for pineapples in particular • Production investments in Honduras and Guatemala are expected to yield benefits throughout the year • Input costs
Slide 9: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA • Good overall performance in first quarter, particularly in Scandinavia and Germany • Investments in our Swedish third-party logistics business, Nowaste Logistics, driving growth • Diversified business model proving resilient; positive contributors offsetting decrease
Slide 10: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce Americas & ROW • Positive momentum from 2025 has continued into 2026 • Chilean Cherry season delivered a strong overall result, driven by higher category volumes • Positive volume trends observed across other Southern Hemisphere export categories • North American import and
Slide 11: Financial Review Q1'26
Financial Review Q1’26
Slide 12: Group Results
Group Results Q1’26 Q1’25 Revenue - $’M 2,342 2,099 Net Income - $’M 37.7 44.2 Net Income attributable to Dole plc - $’M 31.3 38.9 Diluted EPS - $ 0.33 0.41 Non-GAAP performance measures (1) Adjusted EBITDA - $’M 100.3 104.8 Adjusted Net Income - $’M 31.2 33.1 Adjusted Diluted EPS - $ 0.33 0.35 1) S
Slide 13: Segment Results
Segment Results $’M Q1’26 Q1’25 Adjusted Adjusted Revenue Revenue EBITDA (2) EBITDA (2) Fresh Fruit 938 52.6 878 63.3 Diversified Fresh Produce – EMEA 1,022 30.0 892 27.7 Diversified Fresh Produce – Americas & ROW 420 17.8 363 13.8 Intersegment (38) - (34) - Total 2,342 100.3* 2,099 104.8 2) See App
Slide 14: Fresh Fruit
Fresh Fruit REVENUE $’M +7% 878 938 YoY Q1'25 Q1'26 ▪ Revenue increase primarily due to higher worldwide pricing of bananas, pineapples and ADJUSTED EBITDA $’M plantains and higher volumes of bananas sold in Europe ▪ Adjusted EBITDA decrease primarily due to 63.3 -17% 52.6 higher fruit sourcing cost
Slide 15: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA REVENUE $’M +15% 892 1,022 YoY ▪ Revenue increase primarily due to favorable Q1'25 Q1'26 impact from FX translation and underlying growth in France and Germany ADJUSTED EBITDA $’M ▪ Adjusted EBITDA increased due to strong performance in Scandinavia and Germany, as +8%
Slide 16: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce AMERICAS & ROW REVENUE $’M 420 +16% 363 YoY ▪ Revenue increase driven by higher volumes Q1'25 Q1'26 and pricing in our southern hemisphere export business, as well as by higher volumes in our ADJUSTED EBITDA $’M North America businesses, offsetting lower pricing, primarily
Slide 17: Cash Flow and Financial Position
Cash Flow and Financial Position CAPITAL ADDITIONS BUSINESS & ASSET SALES $’M Q1’26 Q1’25 $’M Q1’26 Q1’25 Cash Capex (3) 17.8 52.8 Asset Sales 1.6 4.8 Finance Lease Additions / - (35.8) Business Disposals 5.0 0.4 (Terminations) (3) Total Capital Additions 17.8 17.0 Total 6.6 5.2 CASH FLOW NET DEBT &
Slide 18: FY'26 Outlook & Strategic Priorities
FY’26 Outlook & Strategic Priorities
Slide 19: FY'26 Outlook
FY’26 Outlook Adjusted EBITDA Routine Capex Interest Expense At least ~ $100M ~$58M $400M Unchanged Unchanged Prior: $60M 19
Slide 20: FY'26 Strategic Priorities
FY’26 Strategic Priorities Strengthen our Execute on our marketplace development pipeline position in core while maintaining a business areas disciplined approach and categories to capital allocation Position Continue our ourselves to focus on cost work efficiently control and in a dynamic macro ope
Slide 21: Q&A
Q&A
Slide 22: Appendix: Non-GAAP Measures and Reconciliations
Appendix Non-GAAP Measures and Reconciliations
Slide 23: Non-GAAP Measures
Non-GAAP Measures Dole plc’s results are determined in accordance with U.S. GAAP. In addition to its results under U.S. GAAP, in and costs for legal matters not in the ordinary course of business; and (8) the Company’s share of these items this presentation, we also present Dole plc’s Adjusted EBIT,
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation RECONCILIATION FROM NET INCOME TO ADJUSTED EBITDA - UNAUDITED Three Months Ended March 31, 2026 March 31, 2025 (U.S. Dollars in thousands) Net income (Reported GAAP) $37,735 $44,159 Income from discontinued operations, net of income taxes - (30) Income from continuing
Slide 25: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation RECONCILIATION FROM NET INCOME ATTRIBUTABLE TO DOLE PLC SHAREHOLDERS TO ADJUSTED NET INCOME – UNAUDITED Three Months Ended March 31, 2026 March 31, 2025 (U.S. Dollars in thousands, except per share amounts) Net income attributable to Dole plc (Reported GAAP) $31,29
Slide 26: Net Debt and Net Leverage
Net Debt and Net Leverage Mar 31, 2026 Dec 31, 2025 Mar 31, 2025 (U.S. Dollars in thousands) Debt (Reported GAAP) Long-term debt, net (870,176) (799,814) (933,983) Current maturities (40,633) (57,668) (44,744) Bank overdrafts (12,696) (9,611) (9,433) Total debt, net (923,505) (867,093) (988,160) Add
Slide 27: Free Cash Flow from Continuing Operations
Free Cash Flow from Continuing Operations Three Months Ended March 31, 2026 March 31, 2025 (U.S. Dollars in thousands) Net cash used by operating activities – continuing operations (Reported GAAP) $(22,466) $(78,789) Less: Capital expenditures (Reported GAAP) (17,758) (52,836) Free Cash Flow from Co
Slide 28: Thank you
Thank you james.oregan@doleplc.com