Dole Shares Rise After Q3 Earnings Miss but Revenue Tops Estimates

Core Insights - Dole plc reported third-quarter adjusted earnings below expectations, with adjusted earnings per share at $0.16 compared to the analyst consensus of $0.18, while revenue was $2.28 billion, exceeding estimates of $2.19 billion and reflecting a 10.5% year-over-year increase [1][2] Financial Performance - Net income declined by 35.7% to $13.8 million, primarily due to a $10.2 million loss from discontinued operations related to the sale of its Fresh Vegetables division [2] - Adjusted EBITDA for the Fresh Fruit segment fell by 36.7% to $27.2 million, impacted by higher banana costs due to Tropical Storm Sara in Honduras and rising sourcing costs for pineapples and plantains [3] Business Outlook - Despite the earnings shortfall, Dole reaffirmed its confidence in the outlook, expecting full-year adjusted EBITDA to reach the upper end of its target range of $380 million to $390 million [4]