Let’s dig into the relative performance of Dole (NYSE: DOLE) and its peers as we unravel the now-completed Q2 perishable food earnings season.

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 satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 1.4% while next quarter’s revenue guidance was 2.5% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.2% since the latest earnings results.

Dole (NYSE: DOLE)

Known for its delicious pineapples and Hawaiian roots, Dole (NYSE: DOLE) is a global agricultural company specializing in fresh fruits and vegetables.

Dole reported revenues of $2.43 billion, up 14.3% year on year. This print exceeded analysts’ expectations by 11.2%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

Unsurprisingly, the stock is down 10.7% since reporting and currently trades at $13.08.

Is now the time to buy Dole? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q2: Mission Produce (NASDAQ: AVO)

Founded in 1983 in California, Mission Produce (NASDAQ: AVO) grows, packages, and distributes avocados.

Mission Produce reported revenues of $357.7 million, up 10.4% year on year, outperforming analysts’ expectations by 11.7%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ gross margin estimates.

Mission Produce achieved the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 9.6% since reporting. It currently trades at $11.63.

Is now the time to buy Mission Produce? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q2: 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 $922.6 million, up 17.4% year on year, falling short of analysts’ expectations by 3.9%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

As expected, the stock is down 3.3% since the results and currently trades at $91.29.

Read our full analysis of Cal-Maine’s results here.

Vital Farms (NASDAQ: VITL)

With an emphasis on ethically produced products, Vital Farms (NASDAQ: VITL) specializes in pasture-raised eggs and butter.

Vital Farms reported revenues of $184.8 million, up 25.4% year on year. This number beat analysts’ expectations by 8%. It was a stunning quarter as it also logged an impressive beat of analysts’ EBITDA estimates.

Vital Farms scored the fastest revenue growth but had the weakest full-year guidance update among its peers. The stock is up 3.7% since reporting and currently trades at $38.70.

Read our full, actionable report on Vital Farms here, it’s free for active Edge members.

Tyson Foods (NYSE: TSN)

Started as a simple trucking business, Tyson Foods (NYSE: TSN) is one of the world’s largest producers of chicken, beef, and pork.

Tyson Foods reported revenues of $13.88 billion, up 3.6% year on year. This print surpassed analysts’ expectations by 2.9%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ EBITDA estimates.

The stock is flat since reporting and currently trades at $52.13.

Read our full, actionable report on Tyson Foods here, it’s free for active Edge members.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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