Dole Plc Q2 Net Income Rises

(RTTNews) - Dole plc (DOLE) reported second quarter net income of $52.3 million, an increase of 8.1% from last year. EPS from continuing operations was $0.56 compared to $0.55. Adjusted EBITDA was $122.7 million, an increase of 9.7%. On a like-for-like basis, adjusted EBITDA increased 9.2%. Adjusted net income was $48.4 million compared to $52.4 million. Adjusted net income declined predominantly due to higher interest expense, the company said. Adjusted EPS was $0.51 compared to $0.55.

Second quarter revenue was $2.1 billion, an increase of 4.4% from prior year. The increase was primarily due to strong performance in the Fresh Fruit and Diversified EMEA segments, offset partially by the Diversified Americas segment. On a like-for-like basis, revenue was 3.8% ahead of prior year.

The company is now targeting an adjusted EBITDA for 2023 of at least $350.0 million.

Net debt as of June 30, 2023 was $1.0 billion.

On August 16, the Board declared a cash dividend for the second quarter of 2023 of $0.08 per share, payable on October 5, 2023 to shareholders of record on September 14, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.