$DOLE

Dole plc

CIK:0001857475|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, net	$ 2,499,411	$ 2,428,427	$ 4,841,586	$ 4,527,831
Cost of sales	(2,304,115)	(2,210,127)	(4,461,297)	(4,127,338)
Gross profit	195,296	218,300	380,289	400,493
Selling, marketing, general and administrative expenses	(148,438)	(124,308)	(272,218)	(242,720)
(Loss) gain on disposal of businesses	(28)	48	1,164	409
Gain on asset sales	686	9,323	1,353	13,124
Long-Lived Asset, Held and Used, Impairment Loss	(22)	(144)	(1,134)	(182)
Operating income	47,494	103,219	109,454	171,124
Other income (expense), net	3,869	(18,716)	8,407	(19,064)
Interest income	4,367	2,955	8,572	5,995
Interest expense	(14,857)	(17,516)	(27,443)	(34,698)
Income from continuing operations before income taxes and equity earnings	40,873	69,942	98,990	123,357
Income tax expense	(14,802)	(25,504)	(36,784)	(43,082)
Equity method earnings	9,056	8,501	10,656	16,793
Income from continuing operations	35,127	52,939	72,862	97,068
Loss from discontinued operations, net of income taxes	0	(34,950)	0	(34,920)
Net income	35,127	17,989	72,862	62,148
Income attributable to noncontrolling interests	(9,143)	(8,023)	(15,581)	(13,270)
Net income attributable to Dole plc	$ 25,984	$ 9,966	$ 57,281	$ 48,878
Income per share - basic:
Continuing operations (in USD per share)	$ 0.27	$ 0.47	$ 0.60	$ 0.88
Discontinued operations (in USD per share)	0	(0.37)	0	(0.37)
Net income per share attributable to Dole plc - basic (in USD per share)	0.27	0.10	0.60	0.51
Income per share - diluted:
Continuing operations (in USD per share)	0.27	0.46	0.60	0.87
Discontinued operations (in USD per share)	0	(0.36)	0	(0.36)
Net income per share attributable to Dole plc - diluted (in USD per share)	$ 0.27	$ 0.10	$ 0.60	$ 0.51
Weighted-average shares:
Basic (in shares)	95,046	95,145	95,110	95,127
Diluted (in shares)	95,703	95,850	95,733	95,763

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 72,862	$ 62,148
Loss from discontinued operations, net of taxes	0	34,920
Income from continuing operations	72,862	97,068
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities - continuing operations:
Depreciation and amortization	55,769	54,777
Long-Lived Asset, Held and Used, Impairment Loss	1,134	182
Net gain on sale of assets	(1,353)	(13,124)
Net gain on sale of businesses	(1,164)	(409)
Unrealized Gain (Loss) on Investments	(9,759)	26,036
Stock-based compensation expense	3,262	3,185
Equity method earnings	(10,656)	(16,793)
Noncash debt refinancing expenses	0	1,921
Amortization of debt discounts and debt issuance costs	1,566	2,654
Deferred tax benefit	(3,161)	(2,831)
Pension and other postretirement benefit plan cost	4,621	2,868
Dividends received from equity method investments	6,596	6,268
Insured Event, Gain (Loss)	0	(3,869)
Other	0	(1,565)
Changes in operating assets and liabilities:
Receivables, net of allowances	(132,369)	(211,944)
Inventories	81,227	25,736
Prepaids, other current assets and other assets	(27,508)	(12,816)
Accounts payable, accrued liabilities and other liabilities	(49,570)	(17,790)
Net cash used in operating activities - continuing operations	(8,503)	(60,446)
Investing activities
Sales of assets	7,465	10,076
Capital expenditures	(42,545)	(72,196)
Proceeds from sale of businesses, net of transaction costs and cash transferred	4,968	409
Insurance proceeds	0	18,971
Net sales (purchases) of unconsolidated affiliates	231	(1,589)
Payments to Acquire Additional Interest in Subsidiaries	51,193
Payments to Acquire Businesses, Net of Cash Acquired	2,303	1,882
Other	(439)	(14)
Net cash used in investing activities - continuing operations	(83,816)	(46,225)
Financing activities
Proceeds from borrowings and overdrafts	1,068,317	1,151,108
Repayments on borrowings and overdrafts	(901,189)	(1,002,113)
Dividends paid to shareholders	(16,701)	(15,934)
Dividends paid to noncontrolling interests	(7,192)	(7,962)
Payments for Repurchase of Common Stock	(14,644)	0
Payment, Tax Withholding, Share-Based Payment Arrangement	(3,378)	0
Proceeds from (Payments to) Noncontrolling Interests	3,411	0
Payment of contingent consideration	(2,305)	(919)
Net cash provided by financing activities - continuing operations	119,497	124,180
Effect of foreign exchange rate changes on cash	(3,327)	18,859
Net cash used in operating activities - discontinued operations	0	(23,870)
Net cash used in investing activities - discontinued operations	0	(4,850)
Cash used in discontinued operations, net	0	(28,720)
Increase in cash and cash equivalents	23,851	7,648
Cash and cash equivalents at beginning of period, including discontinued operations	267,854	331,719
Cash and cash equivalents at end of period, including discontinued operations	291,705	339,367
Income tax payments, net of refunds	(40,822)	(53,567)
Interest payments on borrowings	$ (25,422)	$ (32,119)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 291,705	$ 267,854
Receivables, net of allowances of $66,225 and $75,500, respectively	928,270	804,621
Inventories, net of allowances of $4,074 and $3,659, respectively	423,983	509,260
Prepaid expenses and other current assets	111,726	94,316
Assets held for sale	84,161	75,689
Total current assets	1,839,845	1,751,740
Investments in unconsolidated affiliates	143,996	142,082
Actively marketed property	48,211	53,231
Property, plant and equipment, net of accumulated depreciation of $640,163 and $619,706, respectively	1,049,898	1,081,656
Operating lease right-of-use assets	415,243	371,366
Other Assets, noncurrent and Other Long-Term Investments	154,349	147,758
Goodwill	429,545	434,345
DOLE® brand	306,280	306,280
Other intangible assets, net of accumulated amortization of $133,498 and $133,022, respectively	15,961	18,997
Deferred income tax assets	88,860	88,669
Total assets	4,492,188	4,396,124
LIABILITIES AND EQUITY
Accounts payable	762,072	712,483
Liability, Defined Benefit Plan Current, Accrued Payroll and Accrued Payroll Tax and	475,471	573,008
Bank Overdrafts And Long-Term Debt, Current	62,366	67,279
Current maturities of operating leases	79,408	71,379
Other current liabilities	38,249	56,285
Liabilities held for sale	22,240	14,047
Liabilities, Current, Total	1,439,806	1,494,481
Long-Term Debt, Excluding Current Maturities	969,121	799,814
Operating leases, less current maturities	337,399	306,566
Deferred income tax liabilities	85,505	90,100
Other long-term liabilities	191,975	203,390
Total liabilities	3,023,806	2,894,351
Commitments and Contingencies, Liability [Abstract]
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$ 34,248	$ 29,716
Common Stock, Shares, Issued	94,459,000	95,163,000
Common stock, shares outstanding (in shares)	94,459,000	95,163,000
Stockholders’ equity:
Common stock — $0.01 par value; 300,000 shares authorized; 94,459 and 95,163 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	$ 945	$ 952
Additional paid-in capital	741,559	804,247
Retained earnings	717,282	676,371
Accumulated other comprehensive loss	(130,852)	(117,467)
Equity, Attributable to Parent, Total	1,328,934	1,364,103
Equity attributable to noncontrolling interests	105,200	107,954
Total equity	1,434,134	1,472,057
Total liabilities, redeemable noncontrolling interests and equity	$ 4,492,188	$ 4,396,124