Dean Foods Beats 1Q Profit Forecasts

May 10, 2016 09:36 PM
Dean Foods Beats 1Q Profit Forecasts

Dean Foods Co. on Tuesday reported first-quarter net income of $39.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had profit of 43 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The milk company posted revenue of $1.88 billion in the period, which met Street forecasts.

Dean Foods expects second-quarter earnings in the range of 32 cents to 40 cents per share.

Dean Foods shares have increased 6 percent since the beginning of the year. The stock has climbed 14 percent in the last 12 months.

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