2023-03-07 06:53:10 ET
Dole plc ( NYSE: DOLE ) gained in early trading on Tuesday after reporting revenue growth of 4.9% and adjusted EBITDA growth of 21.7% for Q4 .
On a like-for-like basis, revenue increased 10.2% with growth across all segments. The adjusted EBITDA growth during the quarter was primarily driven by a strong quarter for the Fresh Fruit segment, partially offset by challenges in our Diversified Americas and Diversified EMEA segments and a loss in Fresh Vegetables.
Net income was $13.3M vs. -$24.6M a year ago.
"With our diversified product offering and wide geographic footprint, we believe our business is well positioned for growth." stated CEO Carl McCann. The California-based company expects to generated $350M in adjusted EBITDA in 2023.
On January 30, Dole ( DOLE ) entered into a stock purchase agreement with Fresh Express Acquisitions LLC, a wholly owned subsidiary of Chiquita Holdings Limited, to acquire our Fresh Vegetables division for approximately $293.0M in cash.
Shares of DOLE rose 0.50% premarket to $12.15.
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Dole trades higher after topping Q4 estimates