Dole's Q4 Earnings Top Estimates

• Dole PLC (NYSE:DOLE) reported fourth-quarter FY21 sales growth of 2.3% year-on-year, to $2.25 billion, beating the consensus of $2.23 billion.
• The revenue increase was driven by growth in the Fresh Fruit, Diversified Fresh Produce in EMEA, and Diversified Fresh Produce in Americas & ROW reporting segments.
• The gross profit decreased 6.4% Y/Y to $135.6 million, with a margin of 6%.
• The company incurred an operating loss of $(7.2) million.
• The company held $250.6 million in cash and equivalents as of December 31, 2021.
• Adjusted EBITDA of $61.1 million declined 14.9% Y/Y.
• Pro-forma Adjusted EPS of $0.14 beat the analyst consensus of $0.10.
• Outlook: Dole sees FY22 sales of $9.6 billion - $9.9 billion, above the consensus of $9.54 billion.
• The company expects FY22 adjusted EBITDA of $370 million - $380 million.
• Price Action: DOLE shares closed lower by 4.01% at $12.92 on Monday.