Yahoo Finance Perishable Food Stocks Q1 Highlights: Dole (NYSE:DOLE)
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the perishable food stocks, including Dole (NYSE:DOLE) and its peers.
The perishable food industry is diverse, encompassing large-scale producers and distributors to specialty and artisanal brands. These companies sell produce, dairy products, meats, and baked goods and have become integral to serving modern American consumers who prioritize freshness, quality, and nutritional value. Investing in perishable food stocks presents both opportunities and challenges. While the perishable nature of products can introduce risks related to supply chain management and shelf life, it also creates a constant demand driven by the necessity for fresh food. Companies that can efficiently manage inventory, distribution, and quality control are well-positioned to thrive in this competitive market. Navigating the perishable food industry requires adherence to strict food safety standards, regulations, and labeling requirements.
The 11 perishable food stocks we track reported a decent Q1; on average, revenues beat analyst consensus estimates by 4.5%. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and perishable food stocks have held roughly steady amidst all this, with share prices up 0.7% on average since the previous earnings results.
Dole (NYSE:DOLE)
Cherished for its delicious, world-famous pineapples and Hawaiian roots, Dole (NYSE:DOLE) is a global agricultural company specializing in fresh fruits and vegetables.
Dole reported revenues of $2.12 billion, up 6.6% year on year, in line with analysts' expectations. It was a solid quarter for the company, with an impressive beat of analysts' Adjusted EBITDA and earnings estimates.
1 Dole plc reports its financial results in accordance with U.S. Generally Accepted Accounting Principles ("GAAP").
The stock is up 0.7% since the results and currently trades at $12.35.
Is now the time to buy Dole? Access our full analysis of the earnings results here, it's free.
Best Q1: Mission Produce (NASDAQ:AVO)
Founded in 1983 in California, Mission Produce (NASDAQ:AVO) grows, packages, and distributes avocados.
Mission Produce reported revenues of $297.6 million, up 34.6% year on year, outperforming analysts' expectations by 31.4%. It was an incredible quarter for the company, with an impressive beat of analysts' earnings estimates.
Mission Produce achieved the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is down 12.7% since the results and currently trades at $9.97.
Is now the time to buy Mission Produce? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Fresh Del Monte Produce (NYSE:FDP)
Translating to "of the mountain" in Spanish, Fresh Del Monte (NYSE:FDP) is a leader in providing high-quality, sustainably grown fresh fruits and vegetables.
Fresh Del Monte Produce reported revenues of $1.11 billion, down 1.8% year on year, falling short of analysts' expectations by 3.8%. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Fresh Del Monte Produce had the weakest performance against analyst estimates in the group. The stock is down 16.4% since the results and currently trades at $21.78.
Read our full analysis of Fresh Del Monte Produce's results here.
Calavo (NASDAQ:CVGW)
A trailblazer in the avocado industry, Calavo Growers (NASDAQGS:CVGW) is a pioneering California-based provider of high-quality avocados and other fresh food products.
Calavo reported revenues of $184.4 million, down 24.6% year on year, surpassing analysts' expectations by 11.2%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
The stock is down 10.3% since the results and currently trades at $22.46.
Read our full, actionable report on Calavo here, it's free.
Cal-Maine (NASDAQ:CALM)
Known for brands such as Egg-Land’s Best and Land O’ Lakes, Cal-Maine (NASDAQ:CALM) produces, packages, and distributes eggs.
Cal-Maine reported revenues of $703.1 million, down 29.5% year on year, surpassing analysts' expectations by 1.5%. It was a good quarter for the company: Cal-Maine exceeded analysts' EPS expectations. Its revenue also outperformed Wall Street's estimates.
Cal-Maine had the slowest revenue growth among its peers. The stock is up 4.4% since the results and currently trades at $61.52.
Read our full, actionable report on Cal-Maine here, it's free.
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