US: Dean Foods ups outlook on "strong" Q1 sales
By Michelle Russell | 9 May 2012
US dairy giant Dean Food raised its full-year outlook today (9 May) after it booked an increase in first-quarter profits driven by "solid" growth across all units and tight expense control.
In the three months to the end of March, net income increased 52% to US$37.9m, the company reported.
First quarter operating income totalled $123m, a 16.1% increase on the prior-year period. Sales grew 6.7% to $3.2bn.
"Today we announced strong first quarter results, driven by stronger than forecasted growth across each of our three operating segments, and supported by tight expense control across the business," said Gregg Engles, chairman and CEO.
"Our financial performance was further bolstered by declining interest expense, resulting in first quarter adjusted diluted earnings per share of $0.31, more than double the previous year and the sixth straight quarter we have delivered adjusted EPS at or above our guidance."
Given the "significant momentum" that the company has built up in the first quarter, Dean Foods' said the "cautious optimism" the company expressed last quarter has turned "less cautious".
"All three operating segments performed well in the first quarter and we expect strong full year growth across the business," Engles added.
The company raised its full-year outlook and said that it expects full-year adjusted earnings of $1.10 to $1.20 per share, up from its prior outlook 0f 87 to 95 cents per share.
Click here to view the full earnings release.
Sectors: Dairy, Financials
Companies: Dean Foods
View next/previous articles
9 May 2012 -
Currently reading -
US: Dean Foods ups outlook on "strong" Q1 sales
9 May 2012 -
Related research
Dean Foods Company (DF) - Financial and Strategic SWOT Analysis Review
Dean Foods Company (Dean Foods) is a leading food and beverage company offering beverages and plant-based food products. It operates three businesses, namely, Fresh Dairy Direct, WhiteWave-Alpro and Morningstar. Fresh Dairy Direct processes and distr...
Dean Foods Company: Consumer Packaged Goods Company Profile, SWOT & Financial Report
Canadean's "Dean Foods Company: Consumer Packaged Goods Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company overview, business description, SWOT analysi...
Dean Foods Co in Packaged Food – World
This report analyses Dean Foods's operations in the packaged food market. It particularly focuses on the company's efforts to shift the emphasis of its operations towards major brands with significant potential for value-adding innovation. It also co...
Related articles
US: WhiteWave share slide on NYSE debut
Shares in Dean Foods' soy and organic arm WhiteWave Foods Co slid on their debut on the New York stock exchange on Friday (26 October).
US: Dean Foods to raise $320m in IPO
Dean Foods' soy and organic arm Whitewave Foods Co said it plans to raise up to US$320m in an initial public offering.
There are currently no comments on this article
Be the first to comment on this article