Dole Stock Gains 3% Following Q1 Results

Dole (NYSE:DOLE) shares rose nearly 3% pre-market today after the company reported a first-quarter EPS of $0.43, exceeding the analyst prediction of $0.33. The company's revenue for the quarter was $2.12 billion, aligning with the consensus estimate.

Looking ahead to the fiscal year 2024, Dole expressed satisfaction with its strong start to the year, which they believe positions the company well for achieving a robust overall performance.

Although it's still early in the year and forecasting continues to be challenging, Dole is committed to achieving a full-year Adjusted EBITDA that matches the 2023 figures. After accounting for the sale of Progressive Produce, this equates to an Adjusted EBITDA target of at least $360 million for the year.

For 2024, Dole plans to maintain its capital expenditure for continuing operations between $110 million and $120 million and has lowered its expected interest expense to range from $75 million to $80 million.