Dean Foods today (5 August) reported a “strong” second quarter, driven by growth at the company’s Fresh Dairy Direct and WhiteWave-Morningstar divisions.
Net income for the three-month period totalled US$64.1m, up 31% last year.
Operating income at WhiteWave-Morningstar was $72m, a 46% increase on last year, while operating income at Fresh Dairy Direct rose 9% to $168.6m.
However, the company said that net sales dropped 14% to $2.7bn as it passed lower commodity prices along to consumers.
Looking to the full year, Dean Foods raised its earnings outlook to “at least” $1.60 per share.
For the full press release click here, or check back later for a post-conference call update from just-food.