Dole plc (NYSE:DOLE) Q3 2023 Earnings Call Transcript

Johan Linden: Okay. So if you look at the cost pressure that we’re having, they’re coming a little bit from all over the place, but you’re right to point out, it’s coming from the currencies. The Costa Rican Colon has been very strong. So that is impacting cost. We also see the growers having pressures when it comes down for the independent growers that we’re having. They have pressures when it comes to salary increases on the field. So we see them asking for higher pricing and you can see that in the official price coming out of Ecuador, that, that is coming up. So we’re going to have to pay some more for the fruit. But on the other hand, we see some other input costs moderating. We see paper moderating. We believe there is something to be done in shipping. So we see cost pressure, but we believe that we are in a good pressure — in a good position to handle them.

Rory Byrne: And Jacinta on the surplus?

Jacinta Devine: Yes. Hi. Good morning, Gary. Yes, so just to recap, so in the quarter, we delivered sales of 45 million. And year-to-date, we’ve achieved 64 million. So we have a pipeline, if you like, of 24 million, which sits on our balance sheet. And we’re working through sales for the fourth quarter, but it’s really very difficult to predict the timing on when sales was closed. Obviously, Q3 was very strong, and we wouldn’t expect anything at that level going into Q4, but I hope for some small incremental asset sales before the end of the year. But again, timing is difficult to predict.

Gary Martin: Excellent. Good color. I’ll pass it on.

Operator: There are no further questions at this time. I will now turn the call over to Rory for some closing remarks.

Rory Byrne: Okay. Thank you all for joining us today. And obviously we’re very pleased with our third quarter and our year-to-date numbers. The third quarter represents another strong quarter in a sequence now of consistent good quarterly performances. As ever, plenty of challenges out there, plenty of opportunities, but we do look forward to the future at grace enthusiasm, confidence and optimism. So thank you all very much for joining us today.

Operator: This concludes today’s conference call. You may now disconnect.