Dean Foods (NYSE:DF) stock was down on Tuesday after updating its guidance for the full year of 2018.
Dean Foods says that it is now expecting earnings per share for the year to range from 32 cents to 52 cents. This is a drop from its previous earnings per share guidance of 55 cents to 80 cents for 2018. This is bad news for DF stock, as Wall Street is looking for it to report earnings per share of 66 cents for the year.
The lower guidance for Dean Foods comes in its earnings report for the second quarter of the year. This earnings report also includes earnings per share of 16 cents. This is down from earnings per share of 21 cents from the same time last year. However, it does match analysts’ earnings per share estimate for the period.
Dean Foods’ earnings report for the second quarter of 2018 also includes a net loss of $40.09 million. The company’s earnings report from the second quarter of 2017 saw it reporting net income of $17.65 million.
Operating loss reported by Dean Foods for the second quarter of the year was
$40.89 million. This is a drop from the company’s operating income of $46.22 million that was reported in the same period of the year prior.
The earnings report for the second quarter of 2018 also sees it reporting revenue of $1.95 billion. Dean Foods’ revenue from the second quarter of the previous year came in at $1.93 billion. Wall Street was expecting revenue of $1.91 billion for the quarter.
DF stock was down 13% as of noon Tuesday and is down 18% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
