v3.26.1
REVENUE
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue consists primarily of product revenue, which includes the selling of fresh produce, health foods and consumer goods to third-party customers. Fresh produce comprises two main product categories, tropical fruit and diversified produce. Tropical fruit primarily consists of bananas, pineapples and plantains, and diversified produce primarily consists of all other fruit, vegetables and other produce. Product revenue also includes surcharges for additional product services such as freight, cooling, warehousing, fuel, containerization, handling and palletization related to the transfer of products.
Revenue also includes service revenue, which includes third-party freight services and royalties for the use of the Company’s brands and trademarks. Additionally, the Company maintains a commercial cargo business where revenue is earned by providing handling and transportation services of containerized cargo on the Company’s vessels. Net service revenues were less than 10% of total revenue for the three months ended March 31, 2026 and March 31, 2025.
The following table presents the Company's disaggregated revenue by similar types of products and services for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended
March 31, 2026March 31, 2025
(U.S. Dollars in thousands)
Diversified produce
$1,398,615 $1,215,268 
Tropical fruit
826,563 779,569 
Health foods and consumer goods39,925 35,347 
Commercial cargo44,938 47,559 
Other1
32,134 21,661 
Total revenue, net$2,342,175 $2,099,404 
The following table presents the Company's disaggregated revenue by channel for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended
 March 31, 2026March 31, 2025
Third party revenue:(U.S. Dollars in thousands)
Retail
$1,303,970 $1,163,266 
Wholesale
830,966 737,243 
Food service
102,526 103,106 
Commercial cargo
44,938 47,559 
Other2
22,792 15,787 
Revenue from sales to unconsolidated affiliates36,983 32,443 
Total revenue, net
$2,342,175 $2,099,404