Dean Foods’ Stock Plunges After Loss Widens More Than Expected Amid ‘Accelerated Decline’ in Milk Sales

Tomi Kilgore, Market Watch Dairy August 8, 2019

Shares of Dean Foods Co. plummeted 32% in premarket trading Tuesday, after the milk and dairy products seller reported a wider-than-expected second-quarter loss and sales that rose less than analyst projections, amid volume pressure and an “accelerated decline” in the conventional white milk category.

The net loss widened to $64.5 million, or 70 cents a share, from $40.1 million, or 44 cents a share, in the same period a year ago.

Excluding non-recurring items, the adjusted loss per share was 36 cents, compared with the FactSet loss consensus of 13 cents a share. Sales fell 5.5% to $1.84 billion, below the FactSet consensus of $1.88 billion. 

To read the rest of the story, please go to: Market Watch

Related Articles

Dairy

Dean Foods Announces Asset Purchase Agreement with MGD Acquisition, LLC for the Sale of the Majority of Dean Foods’ Meadow Gold Hawaii Business

Dean Foods Dairy April 28, 2020

Dean Foods Company (“Dean Foods” or the “Company”) today announced that it has entered into an asset purchase agreement with MGD Acquisition, LLC for the sale of Dean Foods’ Hilo facility and related distribution branches on the Big Island, Kauai and Maui, as well as a license to the Meadow Gold Hawaii brand name and related intellectual property. …