Dole falls on slashing 2022 revenue forecast

Dole

23/08/2022 14:54

** Shares of farm produce giant Dole Plc  DOLE.N  fall as
much as 2% to over one-month low of $8.81
    ** Stock last down ~1%, on course for third straight session
of losses
    ** DOLE now sees FY2022 revenue between $9.1 bln and $9.4
bln vs prior forecast of $9.4 bln to $9.7 bln
    ** Company says it is seeing reducing demand for
higher-priced value-added products
    ** DOLE's Q2 adjusted profit fell to 44 cents per share from
74 cents a year earlier
    ** However, Q2 revenue nearly doubled to $2.36 bln
    ** Stock has fallen ~33% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam
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