Dole plc (NYSE: DOLE) stock rose sharply before the opening bell on Thursday after posting stronger-than-expected Q3 earnings and bolstering expectations for full-year sales.
The Irish agricultural company earned $0.14 per share, $0.04 above the expectations of the analyzed. Meanwhile, the 17% rise in revenue to $2.27B missed expectations by a bit. Fresh fruit sales were cited as a particular area of strength during the quarter.
“We are pleased with the strong results reported for the third quarter of 2022, which were significantly ahead of last year and our expectations,” chief executive Carl McCann said. “The diversity of our products, and the growing nature of our integrated business provides us with a solid foundation for continued growth.”
Management also reaffirmed revenue guidance of between $9.1B to $9.4B. The Bloomberg deal fell to $9.15B leading to the results as analysts expressed their opinion. Shares of Dole (DOLE) rose 3.72% shortly before the bell on Thursday.
Check the details of the results.