Dole plc (DOLE): history, ownership, mission, how it works & makes money

A Brief History of Dole plc (DOLE)

Foundation and Early History

Dole Food Company, Inc. was founded in 1851 by James Dole in Hawaii. Initially established as a pineapple plantation, it became known for producing canned pineapple. By 1924, the company had incorporated as Dole Pineapple Company.

Growth and Expansion

In the mid-20th century, Dole expanded its operations beyond Hawaii. In 1961, it acquired the Hawaiian Pineapple Company, diversifying its product line. By the 1980s, Dole had become the world’s largest producer and marketer of fresh fruits and vegetables.

Public Offering and Acquisitions

In 2001, Dole went public, trading on the New York Stock Exchange under the symbol DOLE. The company made significant acquisitions, including the 2013 purchase of the fresh produce operations of the former Fresh Del Monte Produce for $1.65 billion, expanding its global footprint.

Recent Financial Performance

For the fiscal year 2022, Dole plc reported revenue of approximately $4.36 billion, marking a 12% increase from the previous year.

Market Position and Product Line

Dole is a leading provider of fresh and packaged fruits and vegetables. The company supplies over 5,000 products in more than 75 countries worldwide.

Sustainability Initiatives

Dole has committed to sustainability by aiming for a 25% reduction in greenhouse gas emissions by 2030. The company has also focused on sustainable sourcing practices.

Recent Developments

In 2023, Dole announced a strategic partnership with several retailers to enhance its supply chain efficiency and improve product availability.

Stock Performance

As of October 2023, Dole's stock price is approximately $15.20, with a market capitalization of about $1.6 billion.

Conclusion

Dole continues to adapt to the dynamic food industry environment, focusing on innovation and sustainability.

A Who Owns Dole plc (DOLE)

Shareholder Structure

Dole plc has a diverse shareholder base, comprising both institutional investors and individual shareholders. As of the latest financial reports, the ownership distribution is as follows:

Major Shareholders

The following table outlines the major shareholders of Dole plc along with their respective ownership percentages:

Recent Financial Performance

Dole plc reported a revenue of $4.5 billion for the fiscal year ending December 2022. The operating income stood at $200 million, while the net income reported was $150 million.

Market Capitalization

The market capitalization of Dole plc as of October 2023 is approximately $2.3 billion. The stock is traded on the New York Stock Exchange under the ticker symbol DOLE.

Dividend Information

Dole plc has a dividend yield of 1.5% with a recent quarterly dividend payout of $0.09 per share. The annual dividend is projected at $0.36 per share.

Institutional Investments

The top five institutional investors hold a significant portion of Dole plc's shares, as detailed below:

Ownership Changes and Trends

Over the last fiscal year, institutional ownership increased by 3%, reflecting a trend of growing confidence among major investors. Conversely, individual shareholder ownership has remained relatively stable.

Dole plc (DOLE) Mission Statement

Overview

The mission statement of Dole plc is centered around enhancing the quality of life for consumers by providing high-quality fresh produce and food products. The company emphasizes its commitment to sustainability and social responsibility.

Core Values

• Integrity: Dole maintains transparency and honesty in its operations.
• Teamwork: A collaborative approach is fundamental to the company's success.
• Innovation: Continuous improvement and innovation drive Dole's product offerings.
• Sustainability: Commitment to environmental stewardship and sustainable practices is paramount.

Financial Performance

As of the end of 2022, Dole plc reported the following financial metrics:

Market Presence

Dole operates in over 75 countries, sourcing and distributing a wide array of fresh fruits, vegetables, and packaged food products. The company holds a strong position in the global market.

Sustainability Initiatives

Dole plc is committed to sustainability, with various initiatives aimed at reducing its carbon footprint and promoting responsible sourcing.

• Waste Reduction: Targeting a 50% reduction in food waste by 2030.
• Water Conservation: Investment in technology to reduce water usage by 30% by 2025.
• Renewable Energy: Aiming for 100% of its global energy needs to come from renewable sources by 2030.

Customer Engagement

Dole emphasizes the importance of customer satisfaction through various engagement initiatives:

• Feedback Platforms: Implementing regular surveys and feedback mechanisms.
• Community Programs: Involvement in local community health initiatives.
• Product Innovation: Regularly updating product lines based on customer trends and preferences.

Global Workforce

Dole plc employs approximately 38,000 individuals worldwide, focusing on diversity and inclusion within its workforce.

Conclusion

Dole plc's mission is effectively reflected in its operational strategies and corporate culture, striving to lead in fresh produce while maintaining a strong commitment to sustainability and social responsibility.

How Dole plc (DOLE) Works

Overview of Dole plc

Dole plc is a leading global producer and marketer of fresh fruit and vegetables. As of 2023, it operates in more than 75 countries and serves approximately 30,000 customers.

Business Segments

• Fresh Fruit
• Fresh Vegetables
• Dole Packaged Foods

Financial Performance

For the fiscal year ended December 31, 2022, Dole plc reported the following financial performance metrics:

Production and Sourcing

Dole sources its products from various regions worldwide, focusing on sustainability and quality. Major sourcing regions include:

• Central America
• South America
• North America
• Europe

Distribution Channels

Dole utilizes several distribution channels to reach its customers:

• Direct sales to retailers
• Wholesalers
• Foodservice channels
• Export markets

Market Position

Dole plc holds a significant market share in the fresh produce sector, with an estimated share of:

Sustainability Initiatives

Dole plc invests significantly in sustainable practices. Key efforts include:

• Reduction of greenhouse gas emissions by 25% by 2030
• 100% recyclable packaging by 2025
• Water conservation practices across all facilities

Future Outlook

For 2023, Dole plc aims to achieve:

• Revenue growth of 5-7%
• Expansion into new international markets
• Increased product line diversification

Stock Performance

As of October 2023, Dole plc's stock is traded at:

Research and Development

Dole invests approximately 2% of its annual revenue in research and development. Key focus areas include:

• Product innovation
• Supply chain optimization
• Food safety enhancements

How Dole plc (DOLE) Makes Money

Overview of Revenue Streams

Dole plc generates revenue primarily through the sale of fresh produce, processed foods, and various services related to these products. The company focuses on a diverse range of offerings that contribute to its financial performance.

Fresh Produce Segment

The fresh produce segment includes bananas, pineapples, and other fruits and vegetables. As of 2022, the total revenue from the fresh produce segment accounted for approximately $4.4 billion.

Processed Foods Segment

The processed foods segment contributes significantly to Dole's profitability, offering products such as packaged salads, frozen fruits, and snacks. In 2022, the processed foods segment generated revenue of $1.8 billion.

Geographic Revenue Distribution

Dole plc operates globally, with significant revenues generated from various regions. The total revenue distribution by region is as follows:

Cost Structure and Profitability

Dole plc maintains a cost-efficient operation to maximize profitability. As of 2022, the company reported a gross margin of 20% and an operating margin of 7%.

• Cost of Goods Sold (COGS): $5.4 billion
• Operating Expenses: $1.5 billion
• Net Income: $250 million

Market Trends and Challenges

The fresh produce market is influenced by trends such as increasing health consciousness and demand for organic products. Dole plc's strategic initiatives include:

• Expansion of organic fruit lines
• Investment in sustainable farming practices
• Enhancing supply chain efficiency

Recent Financial Performance

According to the latest financial reports for Q2 2023:

• Total Revenue: $1.2 billion
• Net Income: $60 million
• EBITDA: $150 million

Conclusion of Financial Strategy

Dole plc employs multiple strategies to enhance its revenue and profitability through diversification, geographic expansion, and responding to market demands. The focus on sustainable practices and organic products positions the company well for future growth.