Chiquita clarifies 3Q profit outlook

By Associated Press
June 17, 2008 | Comments (0)

Recs

0

Banana and fresh fruit producer Chiquita Brands International Inc. on Tuesday clarified its earnings guidance for the third quarter, saying the loss it expects will be similar to its loss in the year-ago quarter.

In the third quarter of 2007, the company reported a loss of $28.2 million, or 66 cents per share. That result included a charge of $4 million, or 9 cents per share, related to the downsizing of its Chile operations.

Analysts polled by Thomson Financial expect profit of 3 cents per share for this year's third quarter.

Chiquita said the period is "traditionally a weak quarter" for the company and for the banana industry.

The comments appeared to be a response to a big drop in the stock price on Monday after Chiquita said it expected a "significant loss" in this year's third quarter.

The warning leading the stock to plunge nearly 29 percent by the time the market closed.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 666115, ~/Articles/ArticleHandler.aspx, 11/9/2009 7:15:20 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

The Must-Read Story on Fool.com
Health-Care Reform: A Tale of Two Chambers

By The Motley Fool

Health-Care Reform: A Tale of Two Chambers

Related Tickers

11/9/2009 4:02 PM
CQB $17.82 Up +0.29 +1.65%
Chiquita Brands In… CAPS Rating: **

Community: Investing Wiki

Term Of The Hour

Earnings season: Earnings season is the six to eight week period each quarter where the majority of U.S. companies report quarterly or annual earnings.

Want to learn more or edit this definition?
Click here to read more!