Dole rises on Q3 earnings beat

Dole

17/11/2022 15:03

** U.S.-listed shares of fresh fruits and vegetables
producer Dole  DOLE.N  up 2% to $9.34 at the open
    ** Stock trading at its highest price in over two months 
    ** DOLE reports Q3 adj EPS of 14 cents vs 7 cents a year
earlier, beating analysts' expectations of 10 cents 
    ** Co reports Q3 revenue of $2.26 bln vs $1.94 bln a year
earlier, with strong growth in its Fresh Fruit segment
    ** Revenue narrowly misses Wall Street consensus of $2.27
bln - Refinitiv IBES data
    ** Co expects adj EBITDA to be at the lower end of
previously guided range of $330 mln - $350 mln due to the
ongoing challenges within its Fresh Vegetables segment plus
impact of unusual supply chain challenges encountered in Q3 at
the end of the Chilean grape season in North America
    ** Five of seven brokerages rate the stock "buy" or higher,
one "hold" and one "sell"; their median PT is $13
    ** Stock is down 29.9% YTD
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))