Dean Foods Shares Fall After Earnings Miss

Dean Foods Co. shares fell 3.1% in Tuesday premarket trading after the company reported first-quarter earnings that missed estimates. Net loss was $9.8 million, or 11 cents per share, compared with income of $39.2 million, or 43 cents per share, year-over-year. Adjusted EPS was 13 cents, falling short of the 17-cent FactSet consensus. Revenue was $2.00 billion, up from $1.89 billion last year, and ahead of the $1.97 billion FactSet consensus. The company reaffirmed its full-year adjusted EPS guidance of $1.35 to $1.55. The FactSet estimate is $1.40. Dean Foods believes its recent DairyPure sour cream launch, and an investment in and distribution deal with Good Karma, a producer of flax-based milk and yogurt products, are growth opportunities. Dean Foods shares are down 12.3% for the year so far while the S&P 500 index is up 7.2% for the period.