Dole Plc (DOLE) said before open Thursday that it earned $0.24 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $2 billion, missing estimates by $147 million.
In the same quarter a year ago, the company earned $0.28 per share on revenue of $2 billion.
The stock is down 6.86% to $11.13 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Dole Plc a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 74. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Dole PLC through its subsidiaries operates in the North American and European markets for fresh fruits and vegetables. The company's segment includes Fresh Fruit; Diversified Fresh Produce - EMEA; Diversified Fresh Produce - Americas and ROW and Fresh Vegetables. It generates maximum revenue from the Diversified Fresh Produce - EMEA segment.
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Dole Plc Down 6.86% To $11.13 After Earnings Beat
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