Dean Foods (DF) Misses Q1 EPS by 5c, Sales Beat; Reaffirms

Dean Foods (NYSE: DF) reported Q1 EPS of $0.13, $0.05 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.97 billion.

• Q1 net loss per diluted share was ($0.11) and adjusted net income per diluted share was $0.13
• National launch of DairyPure sour cream driving product and package innovation into the category
• Cultivating strong brands through Organic Valley joint venture and investment in Good Karma Foods Inc. (\"Good Karma\"), the leading producer of flax-based milk and yogurt
• Robust commercial and cost productivity agenda ramping up through remainder of 2017
• Reaffirm full-year 2017 adjusted earnings expectation of $1.35 to $1.55 per diluted share(1)

Chief Executive Officer Ralph Scozzafava said, "Our first quarter results across volume and earnings per share were in line with our expectations. Our commercial and cost productivity initiatives are ramping up, including the recent national launch of our new DairyPure sour cream. We are driving incremental distribution across our core portfolio of fluid products as well as expanding our footprint of our super-regional ice cream brands. In addition, we are enhancing our selling capabilities through a partnership with Acosta, a leading sales agency with extensive capability and expertise in products going through customer warehouses."

GUIDANCE:

Dean Foods sees FY2017 EPS of $1.35-$1.55, versus the consensus of $1.40.

For earnings history and earnings-related data on Dean Foods (DF) click here.

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