Dean Foods Beats Profit Expectations, Matches On Sales

Dean Foods Co. reported first-quarter earnings of $39.2 million, or 43 cents a share, compared with a loss of $73.7 million, or 78 cents a share, in the same period a year ago. Excluding non-recurring items, the milk and processed dairy products company said adjusted earnings per share came to 45 cents, beating the FactSet consensus of 38 cents. Revenue declined to $1.88 billion from $2.05 billion, as total volume declined 3.2%, but matched the FactSet consensus of $1.88 billion. The share of U.S. fluid milk volumes decreased by 0.70 percentage points to 34.6%. For the second quarter, adjusted EPS is expected to be 32 cents to 40 cents, surrounding the FactSet consensus of 34 cents. The stock, which was still inactive in premarket trade, has climbed 6.2% year to date, while the S&P 500 has gained 0.7%.

Copyright © 2016 MarketWatch, Inc.