Dole plc today released its financial results for the three and six months ended June 30, 2024.
Highlights for the three months ended June 30, 2024 :
- Strong second quarter results with growth across all segments on a like-for-like basis
- Revenue of $2.1 billion, a decrease of 0.8%. On a like-for-like basis, revenue increased 4.3%
- Net Income of $88.1 million, an increase of 68.4%
- Adjusted EBITDA of $125.4 million, an increase of 2.2%. On a like-for-like basis, adjusted EBITDA increased 8.2%
- Adjusted Net Income of $47.0 million and Adjusted Diluted EPS of $0.49
Commenting on the results, Carl McCann, Executive Chairman, said: "We are pleased to report another strong result for the second quarter of 2024, with Adjusted EBITDA increasing 2.2% to $125.4 million and 8.2% on a like-for-like basis. Following the completion of our sale of Progressive Produce, we repaid $100 million of our Term Loan facilities in April, and at the end of the quarter, our Net Debt was $767.5 million."
"Our strong first half of the year, and positive momentum within the business, positions us well to deliver a good result for the 2024 financial year. Today, we are pleased to raise our full year Adjusted EBITDA target to at least $370.0 million."
Group Results - Second Quarter
Revenue decreased 0.8%, or $17.1 million, primarily due to a net negative impact from acquisitions and divestitures of $100.3 million and a $9.6 million net unfavorable impact of foreign currency translation. On a like-for-like basis, revenue was 4.3%, or $92.8 million, ahead of prior year, due to strong operational performance across all segments.
Net Income increased 68.4% or $35.8 million, due to strong trading results across the Group.
Adjusted EBITDA increased 2.2%, or $2.7 million, primarily driven by strong performance in the Fresh Fruit segment. On a like-for-like basis, Adjusted EBITDA increased 8.2%, or $10.1 million.
Adjusted Net Income decreased $1.3 million, predominantly due to higher tax expense, partially offset by the increases in Adjusted EBITDA noted above. Adjusted Diluted EPS for the three months ended June 30, 2024 was $0.49 compared to $0.51 in the prior year.
For more information: 
James O'Regan
Dole plc
Tel.: +353 1 887 2794
Email: [email protected]