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Feb 26 2025, 12:36 GMT
Dole plc
Solid finish to FY24; weather headwinds to weigh on FY25 profitability
DAVY VIEW
Dole’s FY24 adjusted EBITDA increased 6.7% on a like-for-like (LFL) basis, coming in strongly above its guidance and beating consensus forecasts. Healthy progress was made on balance sheet improvements, with leverage reduced to 1.6x (FY23: 2.1x). While the business is well positioned into FY25, near-term weather-related challenges are expected to weigh on profitability. Dole’s early stage FY25 guidance calls for adjusted EBITDA to be in the $370-380m range (consensus: c.$391m). At first look, we envisage modest downside to our current forecasts.
