Fresh produce company Dole (NYSE: DOLE) will be announcing earnings results this Monday before the bell. Here’s what investors should know.
Dole beat analysts’ revenue expectations last quarter, reporting revenues of $2.37 billion, up 9.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA and gross margin estimates.
Is Dole a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Dole’s revenue to grow 4.8% year on year, a reversal from the 1% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Dole has a history of exceeding Wall Street’s expectations.
Looking at Dole’s peers in the perishable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Cal-Maine’s revenues decreased 53% year on year, beating analysts’ expectations by 3.8%, and Freshpet reported revenues up 13.1%, topping estimates by 2.2%. Cal-Maine traded down 1.3% following the results while Freshpet was also down 7.1%.
Read our full analysis of Cal-Maine’s results here and Freshpet’s results here.
Investors in the perishable food segment have had steady hands going into earnings, with share prices flat over the last month. Dole is down 6% during the same time and is heading into earnings with an average analyst price target of $17.69 (compared to the current share price of $14.75).
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