Dean Foods Company recently reported its second quarter financial results. The company stated that an accelerated decline in the conventional white milk category and higher dairy commodity inflation, which is expected to significantly increase throughout the remainder of 2019, led to a quarterly loss of $64.5 million.
The Dallas-based company said it had a loss of 70 cents per share. Losses, adjusted for non-recurring costs and asset impairment costs, were 36 cents per share, falling short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The company posted revenue of $1.84 billion in the period, also missing Street forecasts. The company's shares closed at $1.67. A year ago, they were trading at $9.70.
Portions of this story were generated by (AP) Automated Insights.