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Dole(DOLE) - 2022 Q2 - Quarterly Report
2022-08-22 16:00
Table of Contents Background and Certain Defined Terms 1 Forward-Looking Statements 1 PART I - FINANCIAL INFORMATION Item 1. Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 2 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months ended June 30, 2022 and June 30, 2021 3 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months ended June 30, 2022 and June 30, 2021 4 Unaudite ...
Dole(DOLE) - 2022 Q1 - Earnings Call Transcript
2022-05-24 17:08
Dole plc (NYSE:DOLE) Q1 2022 Earnings Conference Call May 24, 2022 8:00 AM ET Company Participants James O'Regan – Head-Investor Relations Rory Byrne – Chief Executive Officer Johan Linden – Chief Operating Officer Frank Davis – Chief Financial Officer Conference Call Participants Adam Samuelson – Goldman Sachs Ben Bienvenu – Stephens Chris Barnes – Deutsche Bank Roland French – Davy Ken Zaslow – Bank of Montreal Operator Hello everyone. And welcome to the Dole plc First Quarter 2022 Earnings Conference Cal ...
Dole(DOLE) - 2022 Q1 - Quarterly Report
2022-05-23 16:00
Exhibit 99.1 PART I - FINANCIAL INFORMATION Item 1. Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 3 Unaudited Condensed Consolidated Statements of Operations for the Three Months ended March 31, 2022 and March 31, 2021 4 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three Months ended March 31, 2022 and March 31, 2021 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months ended March 3 ...
Dole(DOLE) - 2021 Q4 - Annual Report
2022-03-21 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________ FORM 20-F _____________________ (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 O ...
Dole(DOLE) - 2021 Q3 - Earnings Call Transcript
2022-03-15 15:43
Financial Data and Key Metrics Changes - Revenue more than doubled from $4.3 billion in 2020 to $9.3 billion in 2021 on a pro forma basis, marking a 113.7% increase [9][31] - Adjusted EBITDA increased from $251.5 million in 2020 to $393.6 million in 2021, a growth of 56.5% on a pro forma basis [9][31] - Total assets rose by 148% from $1.9 billion in 2020 to $4.7 billion in 2021 [10][31] - Adjusted EPS grew by 11.8% from $1.33 to $1.49 per share [12] Business Line Data and Key Metrics Changes - Fresh Fruit segment saw pro forma revenue increase by 2.9% for the full year, driven by higher banana and pineapple prices [35] - Diversified Fresh Produce-EMEA reported a pro forma revenue increase of 5.4% for the full year, supported by recovery in foodservice channels [37] - Fresh Vegetables experienced a pro forma revenue decrease of 8.5% in Q4 2021 due to a product recall, but full-year revenue increased by 1% [41] Market Data and Key Metrics Changes - The company is closely monitoring the impact of the war in Ukraine on the industry, although direct exposure is minimal [19] - The company anticipates foreign currency translation headwinds for the upcoming financial year due to a weakening of European currencies against the US dollar [38] Company Strategy and Development Direction - The company aims to rebuild profitability in the fresh vegetable segment and expand presence in faster-growing categories like berries and avocados [16][50] - Strategic priorities for 2022 include managing pricing in a complex economic environment and actively seeking value-enhancing M&A opportunities [16][51] - The company plans to finalize a new set of sustainability goals and publish an IFRS Sustainability Report [51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as supply chain pressures and cost inflation, attributing strong performance to a diverse product offering and geographic footprint [13][14] - The company expects a $25 million negative impact on adjusted EBITDA for 2022 due to the value-added salads product recall [46] - Management highlighted the uncertainty surrounding the geopolitical situation and its potential impact on trade flows and cost inflation [49] Other Important Information - The company announced a cash dividend of $0.08 per share for Q4 2021 [44] - Frank Davis, the CFO, will retire on June 30, 2022, with Jacinta Devine set to succeed him [53] Q&A Session Summary Question: How is the 2022 outlook framed considering the $25 million headwind from the salads business? - Management clarified that the $25 million impact is known, with additional uncertainty from FX translation and inflationary dynamics [55][56] Question: Can you provide more detail on revenue guidance and expected growth by segment? - Management stated that they do not break out guidance by segment but focus on profitability rather than revenue [61][62] Question: What is the expected impact of the value-added salad recalls on demand and customer relationships? - Management reported no significant impact on consumer behavior or major customer losses, with expectations to regain volume soon [70][72] Question: What opportunities exist for M&A in light of current market conditions? - Management indicated potential opportunities may arise from the geopolitical scenario, although public and private market valuations remain disconnected [76][77]