Q3'24 Results Presentation and and the the state the states HITORIAL PRO THERE Disclaimer Today's presentation includes forward-looking statements that reflect Dole plc's current views with respect to future events, financial performance, expected synergies and industry conditions. These statements are not statements of historical fact. The words "believe," "may," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive," "target" or similar words, or th ...

Company Performance - Dole reported quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.20 per share, and down from $0.24 per share a year ago, representing an earnings surprise of -5% [1] - The company posted revenues of $2.06 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.14%, and up from $2.04 billion year-over-year [2] - Over the last four quarters, Dole has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - Dole shares have increased approximately 36.5% since the beginning of the year, outperforming the S&P 500's gain of 25.5% [3] - The current status of estimate revisions for Dole is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.10 on revenues of $2.04 billion, and for the current fiscal year, it is $1.21 on revenues of $8.29 billion [7] - The outlook for the Agriculture - Operations industry, where Dole operates, is currently in the top 34% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

Revenue Performance - For the three months ended September 30, 2024, net revenues increased by $19.7 million (1.0%) to $2,062.4 million compared to $2,042.7 million in the same period of 2023[165]. - For the nine months ended September 30, 2024, net revenues increased by $134.9 million (2.2%) to $6,307.9 million compared to $6,173.0 million in the same period of 2023[166]. - Total consolidated revenue for the three months ended September 30, 2024, increased by 1.6% to $2.062 billion compared to $2.043 billion for the same period in 2023[198]. - Total consolidated revenue for the nine months ended September 30, 2024, increased by 2.2% to $6.308 billion compared to $6.173 billion for the same period in 2023[198]. - Fresh Fruit segment revenue for the three months ended September 30, 2024, rose by 6.6% or $49.6 million to $798.8 million, driven by higher worldwide volumes and pricing of bananas and pineapples[201]. - Fresh Fruit segment revenue for the nine months ended September 30, 2024, increased by 3.7% or $87.3 million to $2.474 billion, driven by higher worldwide volumes and pricing of bananas and pineapples[203]. - Diversified Fresh Produce – EMEA revenue for the three months ended September 30, 2024, increased by 5.1% or $43.3 million to $899.6 million, aided by strong performance in Ireland, the U.K., and the Netherlands[206]. - Diversified Fresh Produce – EMEA revenue for the nine months ended September 30, 2024, increased by 5.0% or $128.0 million to $2.698 billion, supported by strong performance in Ireland and the U.K.[208]. Income and Expenses - The operating income for the three months ended September 30, 2024, decreased by $29.4 million (38.1%) to $47.7 million compared to $77.1 million in the same period of 2023[165]. - The net income attributable to Dole plc for the three months ended September 30, 2024, decreased by $30.9 million (68.2%) to $14.4 million compared to $45.3 million in the same period of 2023[165]. - The total cost of sales for the three months ended September 30, 2024, increased by $22.1 million (1.2%) to $1,898.4 million compared to $1,876.3 million in the same period of 2023[171]. - Other income (expense), net decreased to an expense of $4.5 million for the three months ended September 30, 2024, primarily due to increased net unrealized losses on foreign currency borrowings[178]. - Income tax expense for the three months ended September 30, 2024 was $15.5 million on $28.4 million of income, reflecting a 54.8% effective tax rate, compared to a 20.6% effective tax rate in the prior year[181]. - Net income attributable to noncontrolling interests decreased to $10.4 million for the nine months ended September 30, 2024, down from $25.0 million in the prior year, primarily due to goodwill impairment and the sale of the Progressive Produce business[191]. Adjusted EBITDA - Total consolidated Adjusted EBITDA for the three months ended September 30, 2024, decreased by 3.1% or $3.1 million to $82.1 million compared to $85.2 million in the prior year[200]. - Fresh Fruit Adjusted EBITDA for the three months ended September 30, 2024, decreased by 4.9% or $2.2 million to $42.9 million, primarily due to higher shipping costs and lower volumes of pineapples sold[202]. - Diversified Fresh Produce – EMEA Adjusted EBITDA for the three months ended September 30, 2024, decreased by 13.1% or $4.6 million to $30.4 million, impacted by higher one-off IT charges and lower supply of certain categories[207]. - Total consolidated Adjusted EBITDA for the nine months ended September 30, 2024, increased by 3.5% or $9.3 million to $317.6 million compared to $308.3 million in the prior year[200]. - Diversified Fresh Produce – EMEA Adjusted EBITDA decreased by 1.9% ($1.9 million) to $99.0 million, primarily due to declines in the Netherlands and the U.K., partially offset by strong performance in the Nordics and South Africa[209]. - Adjusted EBITDA for Diversified Fresh Produce – Americas & ROW increased by 70.7% ($3.6 million) to $8.8 million, driven by improved performance in North American berries and avocados[211]. - Adjusted EBITDA for the nine months ended September 30, 2024, increased by 31.0% ($8.4 million) to $35.6 million, driven by seasonal timing differences and strong performance in North American commodities[214]. Cash Flow and Liquidity - Cash flow from operating activities was $106.2 million for the nine months ended September 30, 2024, down from $157.1 million in the prior year, attributed to seasonal impacts and higher outflows from receivables and inventories[217]. - Cash flows provided by investing activities increased to $60.7 million for the nine months ended September 30, 2024, primarily due to proceeds from the sale of the Progressive Produce business[218]. - Cash used in financing activities increased to $198.8 million for the nine months ended September 30, 2024, mainly due to higher debt repayments[219]. - Total available liquidity as of September 30, 2024, was $1.02 billion, compared to $997.1 million as of December 31, 2023[229]. - Net debt decreased to $731.98 million as of September 30, 2024, from $818.26 million as of December 31, 2023[224]. Strategic Changes - The sale of the Progressive Produce business resulted in gross proceeds of $120.3 million and a gain of $75.9 million for the nine months ended September 30, 2024[158]. - The Fresh Vegetables division is classified as held for sale, representing a strategic shift that will materially affect the company's operations and results[155]. - Goodwill impairment of $36.7 million was recognized for the nine months ended September 30, 2024, following the completion of the Progressive Transaction[177]. - The company continues to face inflationary pressures and increased shipping costs, impacting overall performance[166].

Core Insights - Dole (DOLE) is currently rated as a 1 (Strong Buy) by Zacks, while Limoneira (LMNR) holds a 3 (Hold) rating, indicating a stronger earnings outlook for DOLE compared to LMNR [3] - Value investors utilize various valuation metrics to assess whether a stock is undervalued, including P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] Valuation Metrics - DOLE has a forward P/E ratio of 12.90, significantly lower than LMNR's forward P/E of 95.06, suggesting that DOLE is more attractively priced [5] - The PEG ratio for DOLE is 2.52, while LMNR's PEG ratio is 6.34, indicating that DOLE's expected earnings growth is more favorable relative to its price [5] - DOLE's P/B ratio stands at 1, compared to LMNR's P/B of 2.42, further supporting the argument that DOLE is undervalued [6] Investment Recommendation - Based on the Zacks Rank and Style Scores, DOLE is positioned as a more attractive option for value investors compared to LMNR, with a Value grade of A for DOLE and D for LMNR [6]

Core Insights - The article compares Dole (DOLE) and Limoneira (LMNR) to determine which stock presents a better undervalued investment opportunity [1] Valuation Metrics - Dole has a forward P/E ratio of 13.87, while Limoneira has a significantly higher forward P/E of 96.80 [5] - Dole's PEG ratio is 2.71, indicating a more favorable expected EPS growth rate compared to Limoneira's PEG ratio of 6.45 [5] - Dole's P/B ratio stands at 1.08, contrasting with Limoneira's P/B ratio of 2.46, suggesting Dole is more aligned with its book value [6] - These metrics contribute to Dole's Value grade of A and Limoneira's Value grade of D [6] Earnings Outlook - Dole currently has a Zacks Rank of 1 (Strong Buy), indicating an improving earnings outlook, while Limoneira has a Zacks Rank of 3 (Hold) [3][7]

Group 1 - Dole (DOLE) has shown strong year-to-date performance, returning approximately 36.2%, significantly outperforming the average gain of 9.4% in the Consumer Staples sector [4] - Dole is currently ranked 1 (Strong Buy) in the Zacks Rank system, indicating a positive earnings outlook with a 5.3% increase in the consensus estimate for full-year earnings over the past 90 days [3] - The Agriculture - Operations industry, to which Dole belongs, has seen an average loss of 8.5% this year, highlighting Dole's superior performance within its industry [5] Group 2 - Lifeway Foods (LWAY) is another strong performer in the Consumer Staples sector, with a year-to-date return of 66.4% and a Zacks Rank of 1 (Strong Buy) [4][5] - The consensus EPS estimate for Lifeway Foods has increased by 23.8% over the past three months, reflecting positive analyst sentiment [5] - The Food - Dairy Products industry, which includes Lifeway Foods, has experienced a decline of 2% year-to-date, contrasting with Dole's performance [6]

Core Viewpoint - The article presents an investment strategy focused on deep value opportunities, particularly in stocks that have recently experienced sell-offs due to non-recurrent events, with a preference for insider buying at lower prices [1] Group 1: Investment Strategy - The company employs a contrarian investment style that is highly risky and often involves illiquid options [1] - The investment portfolio is split approximately 50%-50% between shares and call options, with a typical investment timeframe of 3-24 months [1] - Fundamental analysis is utilized to assess the health of companies, their leverage, and to compare financial ratios with sector and industry averages [1] Group 2: Stock Screening Process - The company screens through thousands of stocks, primarily in the US, focusing on those that have undergone recent sell-offs [1] - Professional background checks are conducted on insiders who purchase shares after a sell-off, adding an additional layer of scrutiny [1] - Technical analysis is employed to optimize entry and exit points, using multicolor lines for support and resistance levels on weekly charts [1]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Dole (DOLE) - Dole currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance [3][4] - The stock has shown significant price increases, with a 33.78% rise over the past quarter and a 34.89% increase over the last year, outperforming the S&P 500's gains of 3.93% and 27.48% respectively [7] Price Performance - Over the past week, Dole shares increased by 1.38%, while the Zacks Agriculture - Operations industry rose by 2.32% [6] - The monthly price change for Dole is 5.21%, compared to the industry's 1.49% performance [6] Trading Volume - Dole's average 20-day trading volume is 819,063 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for Dole have been revised upwards, increasing the consensus estimate from $1.15 to $1.21 for the full year [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions [10]

September is living up to its connotation of being the most volatile month for the stock market but Dole (DOLE) and Pilgrim's Pride (PPC) are two consumer food stocks that may be able to offer defensive safety in the portfolio. Both consumer staples companies have landed spots on the Zacks Rank #1 (Strong Buy) list. Even better, in addition to having an "A" Zacks Style Scores grade for Value they have beta ratios under 1.0, suggesting they should be less volatile than the broader market. Dole is a Leading F ...

Have you been paying attention to shares of Dole (DOLE) ? Shares have been on the move with the stock up 10.6% over the past month. The stock hit a new 52-week high of $16.3 in the previous session. Dole has gained 32.1% since the start of the year compared to the 9.6% move for the Zacks Consumer Staples sector and the -10.5% return for the Zacks Agriculture - Operations industry. What's Driving the Outperformance? The stock has an impressive record of positive earnings surprises, as it hasn't missed our ea ...