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Dole plc (DOLE) stands as a global leader in the fresh produce industry, celebrated for its commitment to providing the most nutritious products with minimal environmental impact. With operations in 30 countries, Dole's extensive, vertically integrated supply chain spans the globe, encompassing over 250 facilities dedicated to growing, sourcing, packing, marketing, and distributing more than 300 varieties of fresh produce. The company's offerings range from everyday fruit and vegetables to more exotic selections, all aimed at promoting global health and sustainability.
Dole plc's history is steeped in tradition, originating from Ireland and Hawaii in the 1850s. The company as it is known today was officially established on July 30th, 2021, following the merger of Total Produce plc and Dole Food Company. This merger has bolstered Dole's position in the North American and European markets, where it operates through distinct segments: Fresh Fruit, Diversified Fresh Produce - EMEA, Diversified Fresh Produce - Americas and ROW, and Fresh Vegetables. Notably, the Diversified Fresh Produce - EMEA segment, which includes operations in Ireland, the Netherlands, Spain, Portugal, France, Italy, the U.K., Sweden, Denmark, South Africa, Eastern Europe, and Brazil, generates the majority of the company's revenue.
Dole's mission extends beyond commercial success. The company is keenly aware of its role in promoting healthy and sustainable food options. This is evident in its initiatives aimed at reducing its environmental footprint and ensuring the well-being of its consumers. Dole's dedication to sustainability is matched by its innovation in product offerings and efficient supply chain management, making it a cornerstone of the fresh produce sector.
Recent achievements and projects underscore Dole's ongoing commitment to excellence and sustainability. The company continues to explore new partnerships and expand its product range to meet the evolving needs of consumers worldwide. With a focus on quality and sustainability, Dole plc remains a trusted name in fresh produce, committed to making the world a healthier place.
Dole Food Company Hawaii has responded to the City and County of Honolulu's selection of its lands as a potential site for Oʻahu's next landfill. The company expresses surprise at the announcement and emphasizes that its primary focus remains on protecting Central Oʻahu's agricultural community. The Wahiawā Irrigation System (WIS), which supports over 50 farmers and 500+ agricultural jobs, is currently pending transfer to the State of Hawaiʻi under Act 218 (2023). This transfer is important for system upgrades and accessing federal funding for agricultural and water security. Dole indicates that landfill discussions will need to wait until after the irrigation system transfer is completed.
Dole plc reported its Q3 2024 financial results with revenue of $2.1 billion, up 1.0% year-over-year. On a like-for-like basis, revenue increased 5.8%. Net Income decreased to $21.5 million, primarily due to the absence of a prior year's $28.8 million gain from a non-core asset sale. Adjusted EBITDA was $82.1 million, showing a 3.7% decrease but a 2.3% increase on a like-for-like basis. The company increased its full-year Adjusted EBITDA guidance by $10.0 million, targeting at least $380.0 million. Fresh Fruit segment saw revenue growth of 6.6%, while Diversified Fresh Produce - EMEA increased 5.1%, and Americas & ROW segment declined 17.0% due to business disposal.
Dole plc (NYSE: DOLE) has scheduled its third quarter 2024 financial results announcement for Wednesday, November 13, 2024, before market opening. Management will host a webcast and conference call at 8:00 a.m. Eastern Time on the same day. The company will provide a presentation, press release, and supplemental financial information on its website. Investors can access the live webcast and replay through the company's investor relations page or direct event link, while the conference call requires registration.
Dole plc (NYSE: DOLE), a global leader in fresh produce, has announced its participation in TD Cowen's 2nd Annual Sip, Snack & Scrub Summit. The event will take place on September 17, 2024, at the Westin New York Grand Central in New York, NY. Dole's management will engage in a fireside chat with TD Cowen analyst Robert Moskow at 09:30 a.m. ET and conduct one-on-one meetings with investors during the conference.
Interested parties can access the live webcast and a replay of the fireside chat through Dole's investor relations website or directly via the provided link. This participation underscores Dole's commitment to investor engagement and transparency in the fresh produce market.
Dole plc (NYSE: DOLE) reported strong Q2 2024 financial results with growth across all segments on a like-for-like basis. Key highlights include:
- Revenue of $2.1 billion, down 0.8% but up 4.3% on a like-for-like basis
- Net Income of $88.1 million, up 68.4%
- Adjusted EBITDA of $125.4 million, up 2.2% (8.2% on like-for-like basis)
- Adjusted Net Income of $47.0 million
- Adjusted Diluted EPS of $0.49
The company completed the sale of Progressive Produce, repaid $100 million of Term Loan facilities, and reduced Net Debt to $767.5 million. Dole raised its full-year Adjusted EBITDA target to at least $370.0 million, citing strong first-half performance and positive business momentum.
Dole plc (NYSE: DOLE) has announced it will release its second quarter 2024 financial results on Wednesday, August 14, 2024, before the market opens. The company will host a webcast and conference call at 8:00 a.m. Eastern Time on the same day to discuss the results. A presentation accompanying the discussion will be available on the company's website, along with the press release and supplemental financial information.
Investors and analysts can access the live webcast and subsequent replay at www.doleplc.com/investor-relations or directly at https://events.q4inc.com/attendee/723354344. To join the conference call, participants need to register at https://registrations.events/direct/Q4I2332517 using the conference ID 23325.
Dole, a global leader in fresh produce, will participate in the Deutsche Bank dbAccess 2024 Global Consumer Conference in Paris. The event is scheduled for Wednesday, June 5, 2024. Chief Financial Officer Jacinta Devine and Head of Investor Relations James O'Regan will represent the company. They will be available for one-on-one and group meetings, providing an opportunity for investors to engage directly with Dole's management team.
Dole plc (NYSE: DOLE) reported robust first-quarter results for 2024, with revenue surging by 6.6% to $2.1 billion and net income skyrocketing by 219.5% to $65.4 million. Adjusted EBITDA rose by 9.7% to $110.1 million, and Adjusted Net Income increased to $40.6 million. The company completed the sale of a 65% stake in Progressive Produce, generating $120.3 million in gross proceeds and a $74.0 million gain. The sale proceeds helped reduce long-term debt by $100 million, bringing net debt to $776 million by quarter-end. Revenue gains were seen across all segments, driven by higher volumes and favorable currency impacts. Adjusted Diluted EPS improved to $0.43 from $0.34 the previous year. Despite normal seasonal cash flow outflows of $53.2 million, the company remains optimistic about its 2024 performance, maintaining its Adjusted EBITDA target of at least $360 million.
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