by Christopher Freeburn | February 11, 2014 10:07 am
On Tuesday, Dean Foods (DF) missed analysts’ estimates for fourth-quarter earnings and warned of a possible first-quarter loss, sending DF stock down about 10% in morning trading.
Rising milk prices could negatively impact first-quarter results, Dean Foods cautioned. Dean Foods said that current quarter earnings could range between a loss of 3 cents a share and a profit of 3 cents, Reuters noted.
Dean Foods reported a loss of $37.7 million during the December quarter, due to one-time charges covering restructuring costs and a $63 million loss on the early debt retirement. Quarterly adjusted EPS came in at 18 cents, which fell short of the earnings of 19 cents per share Dean Foods stock that Wall Street had forecast, the Dallas Morning News noted.
During the quarter, Dean Foods posted revenue of $2.3 billion, compared to revenue of $2.5 billion in the year-ago quarter.
Dean Foods stock has slipped more than 7% over the past year. DF stock closed at $15.20 a share on Monday.
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