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About Dole Plc
Dole Plc (DOLE) is a globally recognized leader in the fresh produce industry, specializing in the growing, sourcing, packing, marketing, and distribution of fresh fruits and vegetables. With operations spanning 30 countries and serving numerous others, the company leverages its vertically integrated supply chain to deliver over 300 lines of fresh produce, ranging from everyday staples to exotic varieties. This extensive reach and diverse product portfolio position Dole as a key player in the global fresh produce market.
Business Model and Operations
Dole Plc operates through a vertically integrated supply chain, which encompasses every stage of the fresh produce lifecycle—from cultivation and sourcing to packaging and distribution. This model ensures stringent quality control, operational efficiency, and the ability to meet diverse market demands. The company’s operations are divided into four primary segments: Fresh Fruit, Diversified Fresh Produce - EMEA, Diversified Fresh Produce - Americas and ROW, and Fresh Vegetables. Each segment is tailored to specific geographic markets and distribution channels, including retail, wholesale, and food service.
Market Presence and Geographic Reach
Dole Plc’s largest revenue-generating segment is Diversified Fresh Produce - EMEA, which includes operations in Ireland, the Netherlands, Spain, Portugal, France, Italy, the UK, and other European and South African markets. This segment focuses on a mix of imported and locally sourced fresh fruits and vegetables, catering to the unique preferences of European consumers. In addition to its strong presence in Europe, Dole maintains a significant footprint in North America and other regions, providing a wide array of fresh produce to meet global demand.
Competitive Position and Differentiation
Dole Plc distinguishes itself through its unparalleled scale, extensive product range, and commitment to sustainability. The company’s vertically integrated supply chain is a key competitive advantage, enabling it to maintain high standards of quality and freshness. Additionally, Dole’s long-standing history, dating back to the 1850s, and its strong brand recognition further solidify its position as a trusted provider in the fresh produce industry. By focusing on innovation and operational excellence, Dole continues to navigate the challenges of a highly competitive market.
Industry Context and Challenges
The fresh produce industry is characterized by its reliance on efficient supply chains, the perishability of products, and the need to meet evolving consumer preferences. Dole Plc operates in a competitive landscape that includes other large-scale produce providers, regional suppliers, and organic brands. Challenges such as supply chain disruptions, weather-related risks, and fluctuating demand require the company to maintain agility and resilience. However, Dole’s expertise, global reach, and robust infrastructure position it well to address these challenges and capitalize on opportunities within the sector.
Commitment to Sustainability
While this description focuses on Dole’s business aspects, it is worth noting that the company integrates sustainability into its operations. By minimizing environmental impact and promoting healthier food options, Dole aligns its mission with broader industry trends and consumer expectations, further enhancing its market relevance.
Conclusion
Dole Plc exemplifies a combination of scale, expertise, and innovation in the fresh produce industry. Its vertically integrated operations, diverse product portfolio, and strategic market segmentation make it a cornerstone of the global fresh produce supply chain. With a history rooted in excellence and a commitment to delivering quality, Dole continues to play a pivotal role in making fresh produce accessible to consumers worldwide.
Dole plc (NYSE: DOLE) reported strong Q4 and full-year 2024 results. Q4 revenue reached $2.2 billion, up 4.6% (10.1% like-for-like), though the company recorded a net loss of $31.6 million due to a $78.2 million non-cash write-down of the Fresh Vegetables division.
Full-year 2024 highlights include: revenue of $8.5 billion (+2.8%), net income of $143.4 million, and Adjusted EBITDA of $392.2 million (+1.8%). The company improved its financial position with net debt reduction of $181.1 million to $637.1 million and net leverage of 1.6x.
The Fresh Fruit segment showed strong performance with revenue up 5% for the year, driven by higher banana volumes and pineapple pricing. For 2025 outlook, Dole targets Adjusted EBITDA of $370-380 million, considering challenges from Tropical Storm Sara impact on Honduran operations. The company declared a Q4 2024 dividend of $0.08 per share.
Dole plc (NYSE: DOLE) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 26, 2025, before market opening. The company will host a webcast and conference call at 8:00 a.m. Eastern Time on the same day. Management will provide a presentation, press release, and supplemental financial information on the company website. Interested parties can access the live webcast and subsequent replay through the company's investor relations webpage or directly via the provided Q4 event link. Conference call participation requires prior registration through the dedicated registration link.
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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