Dole Plc. (NYSE:DOLE) Q1 2024 Earnings Call Transcript May 15, 2024 8:00 AM ET

Company Participants

James O'Regan - Head of Investor Relations
Rory Byrne - CEO & Executive Director
Jacinta Devine - CFO & Director
Johan Linden - COO & Director

Conference Call Participants

Adam Samuelson - Goldman Sachs
Christopher Barnes - Deutsche Bank
Gary Martin - Davy
Ben Bienvenu - Stephens
Christian Junquera - Bank of America

Operator

Welcome to the Dole Plc’s First Quarter 2024 Earnings Conference Call and Webcast. Today's conference is being broadcast live over the internet and is also being recorded for playback purposes. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session.

For opening remarks and introductions, I would like to turn the call over to the Head of Investor Relations with Dole Plc, James O'Regan.

James O'Regan

Thank you, Pam. Welcome everybody and thank you for taking the time to join our first quarter 2024 earnings conference call and webcast.

Joining me on the call today is our Chief Executive Officer, Rory Byrne; our Chief Operating Officer, Johan Linden; and our Chief Financial Officer, Jacinta Devine. During this call, we will be referring to presentation slides to supplement our remarks, and these, along with our earnings release and other related materials are available on the investor relations section of the Dole Plc website.

Please note, our remarks today would include certain forward-looking statements within the provisions of the Federal Security of Safe Harbor Laws. These reflect circumstances at the time they are made, and the company expressly disclaims any obligation to update or revise any forward-looking statements. Actual results or outcomes may differ materially from those that may be expressed or implied due to a wide range of factors, including those set forth in our SEC filings and press releases. Information regarding the use of non-GAAP financial measures may be found in our press release, which also includes the reconciliation to the most comparable GAAP measures.

With that, I'm pleased to turn today's call over to Rory.

Rory Byrne

Thank you, James. I welcome everybody and thank you for joining us today as we discuss our results for the first quarter of 2024. So turning first into Slide 4 and the financial highlights for Q1. While following a strong result in 2023, we're very pleased to report another good performance in the first quarter of 2024. Group revenue increased by 6.6% to $2.1 billion and adjusted EBITDA increased 9.7% to $110 million. On a like-for-like basis, adjusted EBITDA increased 10.8% excluding the impact of foreign exchange and M&A.