Dole Food Company, Inc. (DOLE) Q2 Earnings Beat Estimates

Dole Food Company, Inc. (DOLE) Q2 Earnings Beat Estimates

Dole Food Company, Inc. (NYSE:DOLE) released its earnings report for the second quarter of its fiscal year this morning after the markets closed in New York. The company showed earnings of $0.28 per share for the period on revenue totaling $1.1 billion. On today’s market, stock in Dole Food Company, Inc. (NYSE:DOLE) trended slightly upward, finishing the day at $12.79 per share.

Dole Food

In the same three month period in 2012, Dole Food Company, Inc. (NYSE:DOLE) earned 80 cents per share on revenue totaling $1.7 billion. Analysts following the company were expecting the company to show earnings per share of 12 cents this time around, while putting up revenue of $1.1 billion for the period.

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irving kahn Irving KahnThe following letter from Irving Kahn appeared in the June 25, 1962, issue of Barron’s. Irving Kahn wrote to Barron's criticising the publication’s comparison of the 1962 market crash to that of 1929. Irving Kahn points out that based on volume and trading data, the 1962 decline was a drop in the ocean compared to Read More

A new Dole leaves investors less than impressed

Investors are getting a chance to get used to the new Dole Food Company, Inc. (NYSE:DOLE) this year after the company sold off its worldwide packaged foods business along with its Asia fresh produce business to Japanese investment house Itochu Corporation in September of last year. The new results, including the company’s awful performance in the fourth quarter of 2012, have not yet impressed the market.

Dole deals with debt, loses Asian market

Dole Food Company, Inc. (NYSE:DOLE) stock has gained just 11% since the start of 2013, lagging behind all of the major indices. The company used the $1.7 billion proceeds from the Itochi deal to pay down some of its large debt load, meaning that little was left for investment. The loss of a portion of the firm’s Asian business was also a hit to investors, who saw the business as a growth opportunity.

Dole Food Company, Inc. (NYSE:DOLE) will host a conference call to discuss this afternoon’s earnings report this afternoon at 4:45 Eastern Time. Investors and analysts will want to question the company on its strategies for dealing with the company’s debt load, and will be going through the firm’s guidance for the third quarter with a fine tooth comb.


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