Total Produce

Stand-out performance from Dole

  • Sectors : Foods
  • Companies : Total Produce

Ratings and price correct at time of issue.

  • Total Produce

    Closing Price: 123c

  • RATING 14/05/10

  • PREVIOUS RATING 30/06/09

    NEUTRAL

DAVY VIEW

The key takeaway from the 2019 results is the stand-out performance from Dole and the near-30% year-on-year (yoy) increase in Dole EBITDA. The performance exceeds our expectations and underpins strong yoy growth in adjusted EPS – which was 5% ahead of our forecasts and surpassed the upper-end of guidance. With a strong recovery in its packaged salads business, Dole’s EBITDA has now surpassed its 2017 high water mark. The outlook calls for “continued growth”, while we see c.2-3% upside to our FY 2020 EPS forecast.

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Mar 5 2020, 07:20 GMT

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