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Dole (DOLE) To Report Earnings Tomorrow: Here Is What To Expect

StockStory - Tue May 14, 2:01AM CDT

DOLE Cover Image

Fresh produce company Dole (NYSE:DOLE) will be announcing earnings results tomorrow before the bell. Here's what to look for.

Dole missed analysts' revenue expectations by 4.7% last quarter, reporting revenues of $2.07 billion, up 1.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates but a miss of analysts' revenue estimates.

Is Dole a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Dole's revenue to grow 6.5% year on year to $2.12 billion, a reversal from the 11.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.

Dole Total Revenue

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 missed Wall Street's revenue estimates five times over the last two years.

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. Vital Farms delivered year-on-year revenue growth of 24.1%, beating analysts' expectations by 8.1%, and Cal-Maine reported a revenue decline of 29.5%, topping estimates by 1.5%. Vital Farms traded up 7.2% following the results while Cal-Maine was also up 8.2%.

Read our full analysis of Vital Farms's results here and Cal-Maine's results here.

There has been positive sentiment among investors in the perishable food segment, with share prices up 6.5% on average over the last month. Dole is up 5.2% during the same time and is heading into earnings with an average analyst price target of $15.6 (compared to the current share price of $12.22).

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