Dole Reports Q2 Results, Cuts 2022 Guidance Again

Dole (NYSE:DOLE) reported its Q2 results, with EPS of $0.44 coming in better than the Street estimate of $0.38. Revenue was $2.4 billion, compared to the Street estimate of $2.49 billion.

Once again, the company lowered its 2022 outlook as softer industry trends in Fresh Vegetables prolonged the company's expected pathway to recovery, namely in the Value Added Salads business, alongside adverse marks-to-market on FX and cost inflation pressures.

For the full year, the company expects adjusted EBITDA to be in the range of $330-$350 million, a reduction of around 5.5% from its prior guidance.