The 10-second takeaway
For the quarter ended Dec. 29 (Q4), Dole Food whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP loss per share increased. GAAP earnings per share shrank to a loss.
Margins grew across the board.
Dole Food logged revenue of $888.0 million. The four analysts polled by S&P Capital IQ looked for a top line of $1.30 billion on the same basis. GAAP reported sales were 169% lower than the prior-year quarter's $1.54 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.59. The four earnings estimates compiled by S&P Capital IQ averaged -$0.02 per share. Non-GAAP EPS were -$0.59 for Q4 compared to -$0.02 per share for the prior-year quarter. GAAP EPS were -$2.35 for Q4 against $0.05 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.1%, much better than the prior-year quarter. Operating margin was 13.8%, much better than the prior-year quarter. Net margin was 19.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.30 billion. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $4.08 billion. The average EPS estimate is $0.61.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 127 members out of 136 rating the stock outperform, and nine members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give Dole Food a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Dole Food is hold, with an average price target of $14.83.
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