Welcome to our dedicated page for Dole Plc news (Ticker: DOLE), a resource for investors and traders seeking the latest updates and insights on Dole Plc stock.
Dole plc reports company news tied to its global fresh produce business, including quarterly results, segment performance, and capital-allocation updates. The company grows, markets, and distributes fresh fruits and vegetables sourced locally and globally, with operations organized around Fresh Fruit, Diversified Fresh Produce - EMEA, and Diversified Fresh Produce - Americas & ROW.
Recurring developments include financial results releases, investor presentations, portfolio actions such as the completed sale of the Fresh Vegetables business, share repurchase authorization, and reporting-format updates as the company voluntarily uses U.S. domestic issuer forms while remaining a foreign private issuer.
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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