Shares of Dole plc (DOLE) plunged 5.50% in pre-market trading on Monday following the release of its second-quarter 2025 financial results. The agricultural giant reported a mixed bag of results, with strong revenue growth overshadowed by a significant drop in net income and revised guidance.

Dole's Q2 group revenue surged by 14.3% to $2.4 billion, an increase of $304.3 million compared to the same period last year. This growth was attributed to strong operational performance across all segments and a favorable foreign currency impact. However, the company's net income plummeted by 79.6%, falling $70.1 million to just $18.0 million. This steep decline was primarily driven by a $35.0 million loss in discontinued operations, notably in the Fresh Vegetables segment, which included an additional non-cash held-for-sale fair value loss of $50.7 million.

Despite the revenue growth and a 12.2% increase in adjusted earnings per share to $0.55, investors seemed to focus on the bottom-line challenges and the company's revised guidance. Dole plc adjusted its full-year outlook, now targeting an Adjusted EBITDA between $380.0 million and $390.0 million. This revision, coupled with the significant drop in net income, appears to have spooked investors. Additionally, the recent completion of the sale of Dole's Fresh Vegetables Division to Arable Capital Partners, while potentially streamlining operations, may be contributing to market uncertainty about the company's future performance in a complex macroeconomic environment.