Slide 1: Q3'24 Results Presentation
Q3'24 Results Presentation
Slide 2: Disclaimer
Disclaimer Today’s presentation includes forward-looking statements that reflect Dole plc’s undertake any obligation to update any forward-looking statement to reflect current views with respect to future events, financial performance, expected events or circumstances after the date on which such st
Slide 3: Q3'24 Highlights
Q3'24 Highlights
Slide 4: Q3'24 Highlights
Q3'24 Highlights ▪ Robust third quarter Group results, in line with market expectations Revenue Q3'24 Q3'23 Variance Variance LFL (1) ▪ Revenue and Adjusted EBITDA growth, on a like for like (“LFL”) basis (1) $2,062m $2,043m +1.0% +5.8% ➢ Revenue +5.8% on a LFL basis Adjusted EBITDA (2) ➢ Adjusted E
Slide 5: Operational Review
Operational Review
Slide 6: Operational Review Q3'24
Operational Review Q3'24 Diversified Fresh Produce Diversified Fresh Produce Fresh Fruit EMEA Americas & ROW Fresh Vegetables North American operations Strong revenue growth in the Strong overall performance in the We continue to actively explore impacted by dry-docking; however quarter, particularl
Slide 7: Financial Review
Financial Review
Slide 8: Group Results
Group Results Q3'24 Q3'23 YTD’24 YTD’23 Revenue - $’m 2,062 2,043 6,308 6,173 Income from Continuing Operations (4) - $’m 15.1 55.7 142.7 154.4 Net Income - $’m 21.5 54.0 175.0 126.8 Net Income attributable to Dole plc - $’m 14.4 45.3 164.7 101.7 Diluted EPS from Continuing Operations - $ 0.08 0.50
Slide 9: Segment Results – Continuing Operations
Segment Results – Continuing Operations $’m Q3'24 Q3'23 YTD’24 YTD'23 Adjusted Adjusted Adjusted Adjusted Revenue EBITDA Revenue EBITDA Revenue EBITDA Revenue EBITDA Fresh Fruit 799 42.9 749 45.1 2,474 183.0 2,387 180.1 Diversified Fresh Produce – EMEA 900 30.4 856 34.9 2,698 99.0 2,570 101.0 Divers
Slide 10: Fresh Fruit
Fresh Fruit REVENUE $’M Q3'24 REVIEW ▪ 6.6% increase in revenue +6.6% ▪ Increase primarily due to higher worldwide volumes 799 749 YoY of bananas sold, as well as higher worldwide pricing of bananas and pineapples, partially offset by lower Q3'23 Q3'24 worldwide volumes for pineapples and lower pric
Slide 11: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA REVENUE $’M Q3'24 REVIEW +5.1% -13.4% YoY ▪ 5.1% increase in revenue primarily driven by strong performance in Ireland, the U.K. and the 856 900 Netherlands, as well as a favorable impact from +3.3% foreign currency translation and an incremental LFL positive impact fr
Slide 12: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce AMERICAS & ROW REVENUE $’M Q3'24 REVIEW (17.0%) YoY ▪ 17.0% decrease in revenue, primarily due to the sale of Progressive Produce in March 2024 470 390 ▪ On a LFL basis, revenue increased 7.2% primarily due +7.2% LFL to volume and pricing growth in most commodities in Q3'23
Slide 13: Capital Allocation and Leverage
Capital Allocation and Leverage NET DEBT Q3'24: $21.1m CASH CAPEX (6) $’m Q3'24 Q3'23 Continuing Operations Total Gross Bank Debt (918.5) (1,111.4) YTD’24: $56.8m Finance Lease Obligations (74.1) (33.2) Total Gross Debt (992.6) (1,144.6) Cash and Cash Equivalents 260.6 217.5 Net Debt (Non-GAAP) (732
Slide 14: FY'24 Outlook and Strategic Priorities
FY’24 Outlook And Strategic Priorities
Slide 15: FY'24 Outlook
FY’24 Outlook FY’24 Adjusted EBITDA – continuing operations Target: $380 million 15.7917 in Capital Expenditure – continuing operations ~ $130 - $140 million Interest Expense ~ $75 million Q3'24 RESULTS 15
Slide 16: FY'24 Strategic Priorities
FY’24 Strategic Priorities Accelerating Investing for Exiting the Focusing on Advancing on growth in core growth while Fresh cost control our business areas maintaining a Vegetables and operating sustainability and categories disciplined business efficiencies goals and approach to across our adaptin
Slide 17: Q&A
Q&A
Slide 18: Appendix: Non-GAAP Measures and Reconciliations
Appendix Non-GAAP Measures and Reconciliations
Slide 19: Non-GAAP Measures
Non-GAAP Measures Dole plc’s results are determined in accordance with U.S GAAP. proceeds, subtracting the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property, adding impairment
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation RECONCILIATION FROM NET INCOME TO ADJUSTED EBITDA - UNAUDITED Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 (U.S. Dollars in thousands) Net income (Reported GAAP) $21,515 $53,985 $175,016 $126,775 (Inco
Slide 21: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation RECONCILIATION FROM NET INCOME ATTRIBUTABLE TO DOLE PLC SHAREHOLDERS TO ADJUSTED NET INCOME – UNAUDITED Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 (U.S. Dollars in thousands, except per share amo
Slide 22: Like for Like Analysis – Q3'24
Like for Like Analysis – Q3'24 Revenue for the Three Months Ended Impact of Foreign Impact of Like-for-like September 30, September 30, Currency Acquisitions and Increase 2023 2024 Translation Divestitures (Decrease) (U.S. Dollars in thousands) Fresh Fruit $749,210 $ - $ - $49,571 $798,781 Diversifi
Slide 23: Like for Like Analysis – YTD'24
Like for Like Analysis – YTD'24 Revenue for the Nine Months Ended Impact of Foreign Impact of Like-for-like September 30, September 30, Currency Acquisitions and Increase 2023 2024 Translation Divestitures (Decrease) (U.S. Dollars in thousands) Fresh Fruit $2,387,163 $ - $ - $87,298 $2,474,461 Diver
Slide 24: Net Debt September 30, 2024
Net Debt September 30, 2024 (U.S. Dollars in thousands) Debt (Reported GAAP) Long-term debt, net (878,785) Current maturities (87,023) Bank overdrafts (16,451) Total debt, net (982,259) Less: Debt discounts and debt issuance costs (10,312) Total gross debt (992,571) Cash and cash equivalents 260,588
Slide 25: Contact: investors@doleplc.com
Contact: investors@doleplc.com