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Dole cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$10.8M in Q2 2026 · $83.3M over twelve months

Operating cash flow$14.0M
Capital spending−$24.8M
Free cash flow−$10.8M
Cash / net income0.4×
Cash conversion cycle12 days

Analysis

In Q2 2026, Dole generated $14.0M of operating cash flow and spent $24.8M on capital projects, leaving free cash flow of −$10.8M. That is $9.8M less than in Q2 2025 (−$1.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was $175M; the largest uses were capital spending ($91.8M), net borrowing (+) / repaid (−) ($70.7M), other investing ($35.3M); besides operations, cash came from asset & business sales ($73.2M); the cash balance fell by $47.7M.

Operating cash flow was $14.0M against net income of $35.1M — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$89.1M, inventory +$64.7M, depreciation & amortization +$27.7M.

Its cash conversion cycle was 12 days (receivables 23 + inventory 18 − payables 29).

Free cash flow

Dole: free cash flow by quarterDole: free cash flow by quarter$79.9MQ3 2024$131MQ4 2024−$132MQ1 2025−$1.0MQ2 2025$66.5MQ3 2025$67.9MQ4 2025−$40.2MQ1 2026−$10.8MQ2 2026
Operating cash flow less capital spending.
Dole: operating cash flow against capital spendingDole: operating cash flow against capital spendingOperating cash flowCapital spending$101M$21.1MQ3 2024$156M$25.6MQ4 2024−$78.8M$52.8MQ1 2025$18.3M$19.4MQ2 2025$87.4M$20.9MQ3 2025$96.3M$28.4MQ4 2025−$22.5M$17.8MQ1 2026$14.0M$24.8MQ2 2026
Latest (Q2 2026): Operating cash flow $14.0M, Capital spending $24.8M.

Capital allocation, year by year

Dole: where the cash came from (up) and went (down), by fiscal yearDole: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $16.4MFY2021: Net borrowing −$2.8BFY2021: Shares issued $406MFY2021: Asset sales $26.3MFY2021: Capital spending −$58.6MFY2021: Acquisitions $104MFY2021: Dividends −$17.1M$552MFY2021FY2022: Operating cash flow $239MFY2022: Net borrowing −$126MFY2022: Asset sales $36.7MFY2022: Capital spending −$85.6MFY2022: Acquisitions −$4.9MFY2022: Dividends −$30.4M$276MFY2022FY2023: Operating cash flow $299MFY2023: Net borrowing −$168MFY2023: Capital spending −$78.0MFY2023: Acquisitions −$1.3MFY2023: Dividends −$30.4M$299MFY2023FY2024: Operating cash flow $263MFY2024: Net borrowing −$193MFY2024: Asset sales $118MFY2024: Capital spending −$82.4MFY2024: Acquisitions −$926KFY2024: Dividends −$30.6M$381MFY2024FY2025: Operating cash flow $123MFY2025: Net borrowing −$99.9MFY2025: Asset sales $68.6MFY2025: Capital spending −$121MFY2025: Acquisitions −$2.2MFY2025: Dividends −$31.6M$192MFY2025
Over these 5 years operating cash flow totalled $940M; the largest uses were net borrowing ($3.4B) and capital spending ($426M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$299M
Debt$1.0B
Net debt$733M
Due within a year$61.1M

Dole funds itself: free cash flow was $83.3M over the last twelve months, and $299M of cash and investments stands against $1.0B of debt ($61.1M due within a year, 4.9× covered by cash).

Dole: debt maturities by year (FY2025)Dole: debt maturities by year (FY2025)$61.1MYear 1$31.7MYear 2$24.5MYear 3$61.5MYear 4$300MYear 5$351MAfter year 5
Principal due in each year as disclosed in the annual report, against $299M of cash and investments now.

Where the cash came from and went

Dole: sources (+) and uses (−) of cash, Q2 2026Dole: sources (+) and uses (−) of cash, Q2 2026Net borrowing (+) / repaid (−)$108MOther investing−$48.2MCapital spending−$24.8MCash drawn (+) / kept (−)−$18.5MOperating cash flow$14.0MBuybacks−$10.0MDividends−$8.1MOther financing−$5.7MPartners−$5.2MExchange rates−$1.5MTaxes on employees’ shares−$262K
Dole: sources (+) and uses (−) of cash, TTM to Q2 2026Dole: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$175MCapital spending−$91.8MAsset & business sales$73.2MNet borrowing (+) / repaid (−)−$70.7MCash drawn (+) / kept (−)$47.7MOther investing−$35.3MDividends−$32.3MPartners−$27.3MOther financing−$25.6MNot reconciled−$5.8MExchange rates−$4.5MAcquisitions−$2.7M

From profit to cash

Dole: net income to operating cash flow, Q2 2026Dole: net income to operating cash flow, Q2 2026Net income$35.1MDepreciation & amortization$27.7MStock-based pay$1.7MDeferred taxes−$1.9MImpairments$22KGains on investments−$408KGains on disposals−$686KOther non-cash−$10KReceivables−$89.1MInventory$64.7MAccrued liabilities−$7.8MPrepaid and other assets−$10.8MOperating cash flow$14.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202623182912
Q1 202622213013
Q4 202522203012
Q3 202525193113
Q2 202524172913
Q1 202523203113
Q4 202422193011
Q3 202425183013

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$14.0M−$24.8M—−$10.0M−$8.1M$108M−$18.5M−$10.8M
Q1 2026−$22.5M−$17.8M—−$4.6M−$8.6M$58.9M−$5.3M−$40.2M
Q4 2025$96.3M−$28.4M$241K—−$7.4M−$106M$46.8M$67.9M
Q3 2025$87.4M−$20.9M−$607K—−$8.2M−$132M$24.7M$66.5M
Q2 2025$18.3M−$19.4M−$1.9M—−$8.2M$85.7M−$82.8M−$1.0M
Q1 2025−$78.8M−$52.8M——−$7.8M$63.3M$75.2M−$132M
Q4 2024$156M−$25.6M$4K—−$7.7M−$27.2M−$67.7M$131M
Q3 2024$101M−$21.1M−$245K—−$7.7M−$38.1M−$43.1M$79.9M

Dole: income statement and cash flow

Dole, Q2 2026: revenue $2.5B (+3% year over year), operating margin 1.9%. The chart follows the revenue to costs, profit and cash.

Dole: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.