Dole plc

Strong start to FY24

  • Sectors : Foods
  • Companies : Dole plc

Ratings and price correct at time of issue.

  • Dole plc

    Closing Price: 1226c

  • RATING 24/08/21



Dole’s robust Q1 like-for-like (LFL) adjusted EBITDA delivery of +c.11% came in c.10% above consensus estimates and was driven by a strong performance across the Diversified Americas and Diversified EMEA segments. Dole completed the sale of Progressive Produce in the period and prepaid $100m of its term loan facilities with the proceeds. Management has maintained its FY24 guidance, with adjusted EBITDA expected to be line with FY23 on a LFL basis. Adjusting for the disposal of Progressive Produce, this implies an adjusted EBITDA target of “at least” $360m. At first look, we envisage limited changes to our forecasts.

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May 15 2024, 12:20 IST/BST