Dean Foods Co Shares Soar Following Earnings, Revenue Beats
Dean Foods Co (NYSE: DF ) stock was flying high on Tuesday after releasing a strong earnings report for the first quarter of 2018.
Dean Foods Co earnings report for the first quarter of the year starts off with earnings per share of 14 cents. This is better than its earnings per share of 13 cents from the same time last year. It was also good news for DF stock by beating out Wall Street's earnings per share estimate of 10 cents for the period.
During the first quarter of 2018, Dean Foods Co reported flat net income. While this may not seem good, it is an improvement over the food company's net loss of $10 million reported in the first quarter of 2017.
Dean Foods Co also reported operating income of $15 million for the first quarter of the year. This is an improvement over its operating income of $4 million that was reported in the same period of the year prior.
Revenue reported by Dean Foods Co for the first quarter of 2018 came in at $1.98 billion. This is a drop from its revenue of $2.00 billion reported in the same quarter of the previous year. Despite this, it was still a boon to DF stock by coming in above analysts' revenue estimate of $1.85 billion for the quarter.
Dean Foods Co also reaffirmed its outlook for the full year of 2018 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from 55 cents to 80 cents. Wall Street is estimating earnings per share of 62 cents for the period.
DF stock was up 9% as of noon Tuesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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