Dean Foods earnings for the fourth quarter of 2018 have DF stock falling hard on Wednesday.
Dean Foods (NYSE:DF) reports surprise losses per share of 50 cents for the fourth quarter of the year. This is a major drop from the company’s earnings per share of $1.00 during the same time last year. It was also a massive blow to DF stock by falling way short of Wall Street’s earnings per share estimate of 70 cents for the quarter.
The Dean Foods earnings release for the fourth quarter of 2018 also has it reporting a net loss of $260.12 million. This is down from the company’s net income of $52.32 million reported in the fourth quarter of 2017.
Operating loss reported in the Dean Foods earnings release for the fourth quarter of the year was $263.83 million. The American food and beverage company reported operating income of $34.01 million in the same period of the year prior.
Dean Foods earnings for the fourth quarter of 2018 also includes revenue of $1.93 billion. This is roughly the same as the company’s revenue of $1.93 billion reported in the fourth quarter of the previous year. Unfortunately for DF stock, this is nowhere close to analysts’ revenue estimate of $2.68 billion for the period.
Dean Foods also recently announced that it is considering strategic alternatives for the company to increase shareholder value.
“These alternatives could include, among others, continuing to execute on the Company’s business plan including an increased focus on certain standalone strategic initiatives, the disposition of certain assets, the formation of a joint venture, a strategic business combination, a transaction that results in private ownership or a sale of the Company, or some combination of these. “
DF stock was down 8% as of noon Wednesday.
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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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