Dole plc's stock plummeted 7.82% during pre-market trading on Wednesday. The sharp decline followed the release of the company's fourth-quarter financial results, which showed a year-over-year decrease in adjusted earnings.

The global fresh produce company reported Q4 adjusted earnings of $0.14 per diluted share, down from $0.16 in the same period a year earlier. While the company's revenue of $2.37 billion for the quarter rose 9.2% and exceeded analyst expectations, the decline in profitability appears to have driven negative investor sentiment.

Dole's results were mixed, with adjusted EBITDA of $72.7 million beating estimates of $69 million, but the company cited higher fruit costs in its Fresh Fruit segment as a factor impacting profitability. The market reaction suggests investors focused on the earnings decline despite the revenue beat and positive forward guidance for fiscal year 2026.