Dean Foods Posts Profit In Q2 - Quick Facts

(RTTNews) - Dean Foods Co. (DF) Monday reported second-quarter net income of $26.52 million, compared to a loss of $645 thousand last year. Earnings per share were $0.28, in comparison with a loss of $0.01 per share in the previous year.

Adjusted earnings per share totaled $0.33, while it was a loss per share of $0.14 last year. On average, 12 analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales dropped to $2.015 billion from $2.394 billion in the prior year. Analysts expected revenues of $2.06 billion.

The company noted that financial results improved for the fourth consecutive quarter as price realization offset volume deleverage.

The company expects third-quarter adjusted earnings to be $0.17 to $0.27 per share. Analysts look for earnings of $0.21 per share.

"For the third quarter, with expected volume declines in the low single digits, slightly increasing raw milk costs and taking normal seasonality and other factors into account, we expect adjusted diluted earnings of between $0.17 and $0.27 per share," Chief Executive Officer Gregg Tanner said.