Dole 3Q Sales Beat Expectations, Raises 2024 Outlook

Dow Jones

2024/11/13

By Denny Jacob

Dole posted better-than-expected sales in its latest quarter and raised its full-year guidance for a key metric.

The Irish-American agricultural company recorded net income of $14.4 million, or 15 cents a share, for the third quarter, down from $45.3 million, or 48 cents a share, a year earlier.

Stripping out one-time items, earnings came in at 19 cents a share.

Revenue grew to $2.06 billion from $2.04 billion. Analysts polled by FactSet expected around $2 billion.

Dole attributed the top-line increase primarily due to positive operational performance across all its segments and a favorable impact from foreign currency translation.

Revenue in the fresh fruit segment increased more than 6% to $798.8 million due to higher volumes of bananas sold worldwide, as well as higher pricing of bananas and pineapples around the world.

For 2024, Dole raised its adjusted Ebitda outlook by $10 million to at least $380 million.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 13, 2024 06:27 ET (11:27 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts polled by FactSet expected around $2 billion. \n</p>\n<p>\n  Dole attributed the top-line increase primarily due to positive operational performance across all its segments and a favorable impact from foreign currency translation. \n</p>\n<p>\n  Revenue in the fresh fruit segment increased more than 6% to $798.8 million due to higher volumes of bananas sold worldwide, as well as higher pricing of bananas and pineapples around the world. \n</p>\n<p>\n  For 2024, Dole raised its adjusted Ebitda outlook by $10 million to at least $380 million. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 06:27 ET (11:27 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DOLE","symbol_name":"都乐食品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483518008","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483518008","pubTimestamp":1731497220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Dole posted better-than-expected sales in its latest quarter and raised its full-year guidance for a key metric.The Irish-American agricultural company recorded net income of $14.4 million, or 15 cents a share, for the third quarter, down from $45.3 million, or 48 cents a share, a year earlier.Stripping out one-time items, earnings came in at 19 cents a share.Revenue grew to $2.06 billion from $2.04 billion. 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Analysts polled by FactSet expected around $2 billion. \n\n\n  Dole attributed the top-line increase primarily due to positive operational performance across all its segments and a favorable impact from foreign currency translation. \n\n\n  Revenue in the fresh fruit segment increased more than 6% to $798.8 million due to higher volumes of bananas sold worldwide, as well as higher pricing of bananas and pineapples around the world. \n\n\n  For 2024, Dole raised its adjusted Ebitda outlook by $10 million to at least $380 million. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2024 06:27 ET (11:27 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}