Dole plc reported higher first-quarter 2026 revenue as global demand for fresh produce remained strong across Europe, the Americas, and other international markets. The Ireland-headquartered produce supplier said revenue increased 11.6% to $2.34 billion during the three months ended March 31, 2026, supported by higher banana pricing, stronger produce sales, and continued health and wellness demand trends.
The company said growth in its diversified fresh produce divisions partly offset weaker profitability in Fresh Fruit, where sourcing costs continued rising across global banana and pineapple markets.
At a glance
- Revenue increased 11.6% to $2.34 billion
- Adjusted EBITDA reached $100.3 million
- Fresh Fruit revenue rose on higher banana and pineapple pricing
- Germany and France supported EMEA growth
- Higher sourcing costs pressured Fresh Fruit profitability
- Dole maintained full-year EBITDA guidance above $400 million
- Shipping and fuel costs remain a major risk in 2026
Why did Dole’s revenue increase in Q1 2026?
The company said revenue growth came from strong operational performance across all major business segments. Higher worldwide pricing for bananas, pineapples, and plantains contributed to growth, while favorable currency movements also supported reported revenue performance.
Dole also pointed to continued consumer demand linked to health and wellness trends and changing dietary habits. The company specifically referenced growing interest in healthier food consumption patterns and GLP-1-related nutrition trends.
Which business segments performed best?
Diversified Fresh Produce – EMEA delivered strong growth during the quarter. Revenue in the segment increased 14.6% year-on-year, helped by stronger business performance in France and Germany alongside favorable currency movements.
Diversified Fresh Produce – Americas & ROW also reported strong momentum, supported by higher export volumes and improved performance in North America import and marketing operations.
Fresh Fruit revenue increased as worldwide banana and pineapple prices improved, although profitability declined because of rising sourcing costs.
Why did profitability decline in Fresh Fruit?
Adjusted EBITDA in the Fresh Fruit division fell 17% during the quarter despite higher sales. Dole said higher banana sourcing costs and increased pineapple input expenses reduced margins. The strengthening Costa Rican Colón against the U.S. dollar also added additional pressure to sourcing operations.
The company additionally warned that shipping and fuel costs could rise further during the second quarter because of ongoing instability linked to the Middle East conflict.
How is Dole investing in produce infrastructure?
During the quarter, Dole invested in warehouse ripening rooms in France and the U.K. while also expanding machinery and equipment linked to blueberry and avocado packing operations in Europe. Total capital expenditures reached $17.8 million during the first quarter.
These investments reflect ongoing pressure across global supermarket supply chains to improve produce handling efficiency, shelf life, and distribution reliability.
The expansion also highlights the growing operational importance of the wider Ireland fresh produce sector within European grocery logistics and sourcing networks.
What does this mean for supermarkets and produce buyers?
The results underline how supermarket produce departments continue facing higher sourcing and logistics costs despite stable consumer demand. Banana pricing, avocado markets, transport costs, and currency volatility are all continuing to affect fresh produce margins across global grocery retail.
For retailers, maintaining produce availability while controlling pricing pressure remains one of the biggest operational challenges in 2026.
The results also reinforce the importance of diversified sourcing and regional supply-chain flexibility as retailers and distributors respond to shifting global cost conditions.
What happens next?
Dole maintained its full-year 2026 Adjusted EBITDA target of at least $400 million despite ongoing cost pressures. The company expects pricing adjustments and dynamic pricing strategies to help offset higher shipping and fuel expenses later in the year.
The company is also continuing to explore development opportunities and infrastructure investments designed to support future growth across its international produce operations.
Looking ahead, produce pricing, transportation costs, currency movements, and sourcing stability are expected to remain key themes shaping the global fresh produce market during the remainder of 2026.
