Dole (DOLE) Q4 2025 Earnings Call Transcript

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Wednesday, Feb. 25, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Rory Byrne

• Chief Financial Officer — Jacinta Devine

• Head of Investor Relations — James O'Regan

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Rory Byrne: Thank you, James, and invited everybody, and convey you for joining america contiguous arsenic we look backmost implicit 2025, sermon our latest quarterly results, and supply our archetypal outlook for the coming fiscal year. So turning firstly to Slide 4 for a recap of our cardinal developments for 2025. We are precise pleased to present beardown operating results for the twelvemonth with EBITDA of $395 million, coming successful up of our latest guidance. Our 2 diversified caller nutrient segments delivered fantabulous results and fantabulous growth, offsetting the anticipated short-term diminution successful Fresh Fruit owed to higher sourcing costs. During 2025, we besides achieved respective important strategical milestones.

A cardinal strategical precedence for america was to exit the Fresh Vegetables business, and we are precise pleased to person successfully completed the merchantability of this part successful August 2025 for gross information of $140 million. This merchantability has allowed america to afloat absorption connected our halfway operating divisions and has created greater flexibility successful our superior allocation strategy. Continuing with our strategical absorption connected optimizing our plus basal and operations, we announced conscionable earlier the year-end an statement to merchantability our larboard and larboard operations institution successful Guayaquil, Ecuador. We expect to person nett proceeds of astir $75 cardinal erstwhile this transaction closes.

Earlier successful the year, we besides successfully completed a $1.2 cardinal renewal of our recognition facilities, which strengthened our fiscal capableness and enhanced our flexibility to enactment aboriginal maturation initiatives. In November, we announced that our Board had approved a $100 cardinal stock repurchase programme arsenic portion of the improvement of our superior allocation strategy. This volition beryllium utilized opportunistically and, to date, we person spent $4.5 cardinal repurchasing shares. Another important milestone for the radical was the exit of Castle & Cooke arsenic a shareholder successful September by mode of a registered offering. This removed the overhang of the imaginable stock merchantability and provided important further liquidity to our regular trading volumes.

Following connected from this theme, we person present transitioned to afloat U.S. home issuer filings. Over time, we judge this important modulation volition amended our eligibility for inclusion successful a broader scope of U.S. equity indices. Finally, successful October, we had a cardinal operational improvement with the palmy motorboat of Cladeau Royale, our game-changing caller assortment of pineapple, and the culmination of 15 years of dedicated R&D astatine our probe facilities connected Juris. This conventionally bred assortment has a sweeter sensation than a emblematic pineapple, with the added favoritism of coconut flavors.