Dole Posts $53.3-Million Profit for First Quarter
- Share via
Dole Food Co. reported a first-quarter profit of $53.3 million, which included a $31-million pretax gain from the partial spinoff of its Castle & Cooke Homes Inc. unit in March.
Dole, a Westlake Village-based fruits and vegetables concern, had posted a year-earlier loss of $22.8 million because of an accounting change.
Excluding that change, the spinoff gain and other one-time items, Dole’s profit in the quarter ended March 27 was up 10%, to $29.5 million from $26.7 million.
Its first-quarter revenue edged up 2%, to $766.5 million from $753.3 million.
In March, Castle & Cooke Homes sold about 18% of its stock to the public, with Dole retaining the balance.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
