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Nov 17 2022, 13:10 GMT
Dole plc
Q3 results modestly ahead; FY22 EBITDA guidance moved to lower end of range
DAVY VIEW
Dole’s Q3 EBITDA print was modestly ahead of expectations, underpinned by a strong performance in the North American banana business. On an underlying basis, Diversified Europe profits were flat year-on-year (yoy), with the Americas and Rest of World (RoW) unit negatively impacted by a difficult Chilean grape season. The Vegetables segment remains challenged by the earlier listeria recall and lower value-added salads volumes. Full-year 2022 guidance calls for EBITDA at the lower end of the $330-350m range, which implies an $8m (c.2.4%) cut to our forecasts.
