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We Think That There Are Some Issues For Dole (NYSE:DOLE) Beyond Its Promising Earnings
We Think That There Are Some Issues For Dole (NYSE:DOLE) Beyond Its Promising Earnings
Dole plc (NYSE:DOLE) just released a solid earnings report, and the stock displayed some strength. Despite this, our analysis suggests that there are some factors weakening the foundations of those good profit numbers.
View our latest analysis for Dole
NYSE:DOLE Earnings and Revenue History November 24th 2022How Do Unusual Items Influence Profit?
Importantly, our data indicates that Dole's profit was reduced by US$27m, due to unusual items, over the last year. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And that's hardly a surprise given these line items are considered unusual. If Dole doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year.
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
An Unusual Tax Situation
Just as we noted the unusual items, we must inform you that Dole received a tax benefit which contributed US$47m to the bottom line. This is of course a bit out of the ordinary, given it is more common for companies to be paying tax than receiving tax benefits! Of course, prima facie it's great to receive a tax benefit. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. In the likely event the tax benefit is not repeated, we'd expect to see its statutory profit levels drop, at least in the absence of strong growth. So while we think it's great to receive a tax benefit, it does tend to imply an increased risk that the statutory profit overstates the sustainable earnings power of the business.
Our Take On Dole's Profit Performance
In the last year Dole received a tax benefit, which boosted its profit in a way that might not be much more sustainable than turning prime farmland into gas fields. But on the other hand, it also saw an unusual item depress its profit. Given the contrasting considerations, we don't have a strong view as to whether Dole's profits are an apt reflection of its underlying potential for profit. If you want to do dive deeper into Dole, you'd also look into what risks it is currently facing. When we did our research, we found 3 warning signs for Dole (1 is concerning!) that we believe deserve your full attention.
In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Dole plc 纽约证券交易所代码:DOLE)刚刚发布了一份稳健的收益报告,该股表现出一定的走强。尽管如此,我们的分析表明,有一些因素削弱了这些良好利润数字的基础。
查看我们对Dole的最新分析
纽约证券交易所:DOLE 收益和收入历史 2022 年 11 月 24 日不寻常的物品如何影响利润?
重要的是,我们的数据表明,由于不寻常的项目,去年都乐的利润减少了2700万美元。尽管由于不寻常物品而扣除的款项一开始令人失望,但有一线希望。当我们分析全球绝大多数上市公司时,我们发现重大的不寻常事件通常不会重演。鉴于这些单列项目被认为不寻常,这并不奇怪。如果都乐不认为这些不寻常的支出重演,那么在其他条件相同的情况下,我们预计其利润将在明年增加。
这可能会让你想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看根据他们的估计描绘未来盈利能力的交互式图表。
不寻常的税收状况
正如我们注意到这些不寻常的物品一样,我们必须告诉你,都乐获得了税收优惠,为利润贡献了4700万美元。这当然有点不寻常,因为公司纳税比获得税收优惠更常见!当然, 初步证实 获得税收优惠真是太好了。但是,细节中的问题在于,这类福利只会在预订当年产生影响,而且本质上通常是一次性的。如果税收优惠不重演,我们预计其法定利润水平将下降,至少在没有强劲增长的情况下是如此。因此,尽管我们认为获得税收优惠是件好事,但这往往意味着法定利润夸大了企业的可持续盈利能力的风险增加。
我们对都尔利润表现的看法
去年,都乐获得了税收优惠,这提高了利润,其可持续性可能不比将优质农田变成天然气田更可持续。但另一方面,它也看到一件不寻常的物品压低了其利润。考虑到截然不同的考虑,我们对都尔的利润是否恰当地反映了其潜在的盈利潜力没有强烈的看法。如果你想更深入地了解都乐,你还可以看看它目前面临哪些风险。当我们进行研究时,我们发现 都乐的 3 个警告标志 (1 令人担忧!)我们认为这值得你充分关注。
在这篇文章中,我们研究了许多可能损害利润数字效用的因素,以此作为企业指南。但是,如果你能够将注意力集中在细节上,总会有更多东西需要发现。例如,许多人认为高股本回报率表明商业经济状况良好,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。虽然可能需要你进行一些研究,但你可能会发现这一点 免费的 一系列拥有高股本回报率的公司,或者这份内部人士为了有用而买入的股票清单。
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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