Dairy, food and beverages company Dean Foods reported a 47.7% jump in its profit from continuing operations for the fourth quarter of 2017 to $49.5 million or $0.54 per share. However on an adjusted basis, EPS plunged 34.2% to $0.25 per share from $0.38 per share a year earlier.
Net sales plunged 4.1% to $1.93 billion year-over-year.
The company also announced its plan to execute an enterprise-wide cfost productivity program to secure incremental savings in 2018 and beyond. Dean Foods said it is in the advanced stages of designing and in some cases implementing the planned savings initiatives.
For 2018, the company expects to deliver adjusted EPS in the range of $0.55 to $0.80. Additionally, it expects the first quarter earnings to be disproportionately lower than the fourth quarter of 2017. Dean Foods anticipates an increase in adjusted EPS as it moves through the year and into 2019.