Fresh produce company Dole (NYSE:DOLE) will be reporting earnings tomorrow before the bell. Here’s what to expect.
Dole beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $2.06 billion, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates and a miss of analysts’ EPS estimates.
Is Dole a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Dole’s revenue to decline 2.1% year on year to $2.03 billion, a reversal from the 1.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Dole has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Dole’s peers in the perishable food segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Tyson Foods delivered year-on-year revenue growth of 2.3%, beating analysts’ expectations by 1%, and Freshpet reported revenues up 22%, falling short of estimates by 0.6%. Tyson Foods’s stock price was unchanged after the resultswhile Freshpet was down 23.2%.
Read our full analysis of Tyson Foods’s results here and Freshpet’s results here.
Stocks generally had a good 2024. The Fed fought high inflation and won without sending the economy into a recession, otherwise lovingly known as a soft landing. The US Central Bank is now cutting rates. That, plus the election of Donald Trump in November 2024, sent markets even higher, and while some of the perishable food stocks have shown solid performance, the group has generally underperformed, with share prices down 2.5% on average over the last month. Dole is up 2.2% during the same time and is heading into earnings with an average analyst price target of $16.63 (compared to the current share price of $14.11).
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