Dean Foods Shares Drop 3% After Company Misses Fourth Quarter Expectations

Dean Foods Co. shares fell 3% after the company reported fourth-quarter earnings that missed expectations Tuesday. The company said it had net income of $5 million, or six cents per share, after a loss of $38 million, or 40 cents per share, in the year-earlier period. Adjusted earnings per share came to 8 cents, below the FactSet consensus of 10 cents. Sales rose to $2.395 billion, up from $2.295 billion in the year-earlier period, but below the FactSet consensus of $2.438 billion. Dean Foods said it expects first quarter adjusted EPS of 12 cents to 22 cents, compared to the FactSet consensus of 22 cents.