Dean Foods Earnings: Top Estimates with a Swing Up
S&P 500 (NYSE:SPY) component Dean Foods Company (NYSE:DF) reported its results for the third quarter. Dean Foods is a food and beverage company in the United States offering dairy and frozen food products.
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Dean Foods Company Earnings Cheat Sheet
Results: Reported a profit of $36.4 million (20 cents per diluted share) in the quarter. Dean Foods Company had a net loss of $1.54 billion or a loss $8.39 per share in the year-earlier quarter.
Revenue: Fell 9.1% to $3.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dean Foods Company reported adjusted net income of 33 cents per share. By that measure, the company beat the mean estimate of 28 cents per share. Analysts were expecting revenue of $3.11 billion.
The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 5 cents in the second quarter, by 10 cents in the first quarter, and by 4 cents in the fourth quarter of the last fiscal year.
Revenue has dropped in the past two quarters. In the second quarter, revenue declined 5.3% to $3.13 billion from the year-earlier quarter.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 30 cents a share to 27 cents over the last sixty days. At $1.22 per share, the average estimate for the fiscal year has fallen from $1.24 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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