Categories Earnings, Retail

Dean Foods’ stock gains despite wider loss in Q4

Dean Foods Company (DF) reported a higher-than-expected net loss for the fourth quarter of 2018 but revenues came in ahead of expectations. Shares rose 1.3% in premarket hours on Wednesday.

Net sales totaled $1.93 billion, relatively flat compared to the prior-year period.

Net loss attributable to Dean Foods Company was $260.1 million, or $2.85 per share. This compares to a net income of $52.3 million, or $0.57 per share, in the year-ago period. Adjusted EPS from continuing operations was $0.50.

Dean Foods said it has started a review of strategic alternatives to increase shareholder value. The alternatives might include, among others, the disposition of certain assets, the formation of a joint venture, a strategic partnership or even a sale of the company. As the company reviews these alternatives, it has decided to suspend financial guidance.

Dean Foods stock dips on weak Q3 earnings, guidance cut

Dean Foods stated that it has successfully refinanced credit facilities and also decided to suspend its quarterly dividend to enhance financial flexibility.

Capital expenditures totaled $47 million in the fourth quarter. Total outstanding debt at December 31, 2018 was approx. $887 million.

Dean Foods’ rival Campbell Soup Company (CPB) reported second-quarter 2019 results on Wednesday, with both revenue and earnings topping estimates.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top