Dole Plc ( (DOLE) ) has released its Q4 earnings. Here is a breakdown of the information Dole Plc presented to its investors.
Dole plc is a global leader in the fresh produce industry, specializing in the production, marketing, and distribution of a wide range of fresh fruits and vegetables across more than 85 countries.
In its latest earnings report, Dole plc announced strong operational performance for the fourth quarter of 2024, with a revenue increase of 4.6% to $2.2 billion. However, the company reported a net loss of $31.6 million due to a significant non-cash write-down in its Fresh Vegetables division. For the full year, Dole achieved a revenue of $8.5 billion, marking a 2.8% increase, while net income decreased to $143.4 million.
Key financial metrics for the year included an adjusted EBITDA of $392.2 million, a 1.8% increase, and an adjusted net income of $120.9 million, reflecting a 2.4% rise. The company also reported a reduction in net debt by $181.1 million, bringing net leverage down to 1.6x. Despite the challenges, the Fresh Fruit segment showed robust growth, driven by higher banana volumes and pricing.
Looking ahead, Dole plc remains optimistic about its prospects for 2025, despite geopolitical uncertainties and the impact of Tropical Storm Sara on its operations in Honduras. The company targets an adjusted EBITDA range of $370 to $380 million for the year, emphasizing its strong financial position and strategic focus on cash flow generation.
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