Dole Q3 Earnings Climb, Raises FY23 Outlook

(RTTNews) - Dole plc. (DOLE), a farm products company, Thursday reported higher earnings and revenue for the third quarter.

Further, the company raised its adjusted EBITDA guidance for the fiscal 2023.

Quarterly earnings attributable to Dole increased to $45.3 million or $0.48 per share from $39.8 million or $0.42 per share.

Excluding items, earnings were $22.6 million or $0.24 per share compared to earnings of $26.2 million or $0.28 per share.

On average, four analysts polled by Thomson Reuters had expected earnings of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue rose to $2.043 billion from $1.961 billion the previous year. The Street view for revenue is $2.18 billion.

Additionally, the company declared a dividend of $0.08 per share, payable on January 4, 2024 to shareholders of record on December 14.

Looking forward to the full year, the company now expects Adjusted EBITDA of at least $365.0 million compared to the previous guidance of at least $350.0 million.

On Wednesday, Dole shares closed at $11.95, up 0.25% on the New York Stock Exchange.