|Bid||1.1000 x 2200|
|Ask||1.1400 x 4000|
|Day's Range||1.0600 - 1.1900|
|52 Week Range||0.7200 - 8.1500|
|Beta (3Y Monthly)||0.62|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 5, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.43|
President & CEO of Dean Foods Co (30-Year Financial, Insider Trades) Eric Beringause (insider trades) bought 100,000 shares of DF on 08/16/2019 at an average price of $0.81 a share. Continue reading...
Moody's Investors Service ("Moody's") today downgraded Dean Foods Company's ("Dean") Corporate Family Rating (CFR) to Caa2 from Caa1 and its Probability of Default Rating to Caa2-PD from Caa1-PD. Moody's also downgraded the company's senior unsecured notes to Caa3 from Caa2. At the same time Moody's affirmed the company's Speculative Grade Liquidity Rating at SGL-3.
Dean Foods Inc. stock fell as much as 34% in Tuesday trading after the company reported a quarterly loss that it blames on retailers who are discounting milk to get customers through the door.
Just as things were looking like they couldn't get much worse for Dean Foods (DF), they just did.On Tuesday, the stock plunged 36% to close the day just over a dollar. What’s causing investors to hit the exits? The company reported a much wider-than-expected loss for the second quarter and sales that did not meet analyst expectations. Specifically, the company lost over $60 million, up from $40 million last quarter and sales declined just over 5%.In reaction, Deutsche Bank analyst Rob Dickerson reiterates a Hold rating on DF stock with a $2 price target, while lowering his estimates. (To watch Dickerson's track record, click here)Dickerson sees milk prices increasing throughout the year and risks to top line and gross margins still existing. The analyst has lowered his estimates on FY ‘19 EBITDA forecast by 55% to $50MM. This downward revision was largely driven by the Q2 miss of $58MM.With all of these negatives on the horizon what is next for Dean Foods?Many investors are wondering if the company will ride out the current storm or change things up. The company's new CEO Eric Beringause who started just a week ago did not have much to say about the recent moves in the stock price but did have a positive outlook. Having lots of experience within the dairy sector, Beringause noted that the industry is very cyclical and certain factors like raw material costs, production overcapacity and retailers competitive pricing should reverse in time. However, Dickerson remains cautious as to whether the national milk processor model remains relevant in today's dairy industry. Since milk processing is very capital intensive, and Dean Foods capacity utilization currently sits around 50%, he remains skeptical that Dean Foods can really tweak their P/L without any structural change.As the new CEO dives deep into the problems, he notes the company's competitive strengths and structural weaknesses, and believes that further will have to be done beyond what is currently taking place to improve the company's profitability. The analyst believes that although some may say Dean Foods are taking steps in the right direction, they would rather watch from a distance before more is proven.Long story short, there is a lot of proving that Dean Foods will have to do to gain the trust of this analyst, and he will be watching from the sidelines.It appears the voice of the Street backs Dickerson's sidelined vantage point on the food and beverage maker. Out of the 6 analysts polled in the past 12 months, 5 rate Dean Foods Company stock a Hold, while 1 rates the stock a Sell. (See DF's price targets and analyst ratings on TipRanks)
Dean Foods' (DF) top and bottom lines deteriorate year over year and lag the Zacks Consensus Estimate in Q2. Weak volumes and greater dairy commodity inflation hurt.
(Bloomberg) -- Eric Beringause, the new chief executive officer of Dean Foods Co., says he knows the dairy business so well that his friends tell him he must have milk running through his veins.He’ll need to use all that knowledge to pump some blood into the embattled milk processor.Shares of the Dallas-based company fell the most on record Tuesday after it reported a bigger-than-expected quarterly loss and said it would burn cash this year. Americans are drinking less milk, losing market share even to water at grocery stores. Dean Foods bonds slumped to record lows as well.Beringause, who is only a week into his new role, declined to comment on specific actions he would take to turn around the company. His appointment has sparked speculation that Dean is moving away from a sale, an option that it’s been exploring as part of a strategic review. On a call with analysts to discuss the results, he indicated the firm needs growth projects, “whether it’s related to cost reduction or growth-related to new products.”“Clearly there’s opportunities to grow the business,” he said when asked about whether Dean’s model for milk processing still works. “I would refer to this as a target-rich industry for private-label and branded products.”Dean Foods has previously worked to acquire small, regional processors. The company has dozens of plants around the country, mostly making milk and ice cream for brands such as Friendly’s and Steve’s.On The RoadBeringause said he would be on the road over the next several weeks, visiting facilities and meeting with customers, suppliers and business partners. He’s already heard some of their views on the industry and Dean’s position in the market, discussions that have convinced him about the company’s “significant potential.”Some analysts aren’t sure. Despite the change in leadership, BMO Capital Markets is reluctant to predict a substantial recovery, given the worsening pressures on the company. Its costs are skyrocketing, with dairy inflation picking up pace as it loses business from its biggest customer -- Walmart Inc., which is now processing its own milk.Beringause has spent his career in food, beverage and consumer products, and touted 30 years of operational experience. He was most recently CEO of Gehl Foods LLC, a producer of dairy-based beverages, where he oversaw major changes to the business, resulting in “significant growth.”\--With assistance from Katherine Doherty.To contact the reporter on this story: Lydia Mulvany in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: James Attwood at email@example.com, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Dean Foods Co., the biggest U.S. milk processor, is blaming water for some of its earnings miss.The Dallas-based company, which replaced its chief executive officer weeks ago and has been exploring “strategic options” for months, fell as much as 34% after reporting a wider-than-expected second-quarter loss. Its bonds also fell to record lows.One of the reasons for the miss?“The recent category trends we’re seeing are really a shift in how consumers are shopping and what they’re buying,” Chief Financial Officer Jody Macedonio said on a conference call Tuesday. “Particularly in Q2, we saw some of the volume shift to waters.”Declining milk consumption is a trend that has helped deliver four consecutive quarters of losses for Dean. Competition is coming from all sides, with alternatives like almond milk eating into market share and retailers including Walmart Inc. opting to process their own milk.“The category is shrinking in total, everyone is going for a smaller pie,” Macedonio said.To contact the reporter on this story: Lydia Mulvany in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: James Attwood at email@example.com, Tina Davis, Patrick McKiernanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dean Foods (DF) delivered earnings and revenue surprises of -300.00% and -2.29%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of Dean Foods Co. plummeted 32% in premarket trading Tuesday, after the milk and dairy products seller reported a wider-than-expected second-quarter loss and sales that rose less than analyst projections, amid volume pressure and an "accelerated decline" in the conventional white milk category. The net loss widened to $64.5 million, or 70 cents a share, from $40.1 million, or 44 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was 36 cents, compared with the FactSet loss consensus of 13 cents a share. Sales fell 5.5% to $1.84 billion, below the FactSet consensus of $1.88 billion. "We are actively implementing our enterprise-wide cost productivity program to address the deleverage from the volume decline and higher dairy commodity inflation," said Chief Financial Officer Jody Macedonio. "We expect our initiatives to accelerate during the second half of this year as we continue to reset our cost base and drive supply chain productivity to be more agile and cost-efficient." The stock has tumbled 56.2% year to date, while the S&P 500 has gained 13.5%.
DALLAS , Aug. 6, 2019 /PRNewswire/ -- Dean Foods Company (NYSE: DF) today reported second quarter 2019 results. Highlights Q2 GAAP net loss per share attributable to Dean Foods was $0.70 and adjusted net ...
Dean Foods Co. announced a new president and CEO will start Monday, replacing the former CEO who as stepped down and resigned from the board of directors.
(Bloomberg) -- Dean Foods Co. is replacing its chief executive officer in the latest sign of troubled times for the biggest U.S. milk processor, which recently traded at less than $1.Eric Beringause was named president and CEO to succeed Ralph Scozzafava, who has stepped down, according to a statement Friday. Beringause, who was CEO of Gehl Foods LLC, was tapped to lead Dean’s “transformation.”Key InsightsDallas-based Dean has been the victim of Americans’ declining demand for milk. Making things worse, margins are razor thin, competition has grown fierce and key customer Walmart Inc. built its own milk-processing plant last year.While the company has been looking to sell assets, Canadian dairy giant Saputo Inc. said in June it was “absolutely not” interested in buying Dean assets, underscoring that there’s little appetite in the market.In May, Dean reported a wider-than-expected loss for a third straight quarter but said cash burn was likely to be over as the company adjusted to lower demand.At the time, Scozzafava said the company has “been in conversations with folks” about strategic alternatives. But, he also said “it’s possible we won’t do anything and execute the plan we have,” Scozzafava told analysts on a call.Investors may be wondering whether the new CEO will be charged with shaking things up ahead of a sale or transforming the company back to long-term profitability.Market ReactionThe shares climbed about 4% to $1.30 in after-market trading. They closed on Friday at $1.25, down 67% this year.Get More“We believe Eric is the right leader to drive the transformation of the business as the company continues to execute on its enterprise-wide cost productivity plan and its previously announced exploration of strategic alternatives,” Jim Turner, non-executive chairman of the Dean Foods board, said in the statement.America’s Biggest Milk Processor Is Trading Under a BuckDean Foods Bonds Get Boost After Co. Raises Borrowing BaseTo contact the reporter on this story: Millie Munshi in Denver at firstname.lastname@example.orgTo contact the editors responsible for this story: James Attwood at email@example.com, Millie MunshiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dean Foods Co. said late Friday that Eric Beringause has been named the company's president and chief executive officer as well as member of the board of directors, effective Monday. Beringause succeeds Ralph Scozzafava, who has stepped down as CEO and resigned from his position on the board, the company said. Beringause most recently served as CEO of dairy products maker Gehl Foods, LLC. "We believe Eric is the right leader to drive the transformation of the business as the Company continues to execute on its enterprise-wide cost productivity plan and its previously announced exploration of strategic alternatives," Jim Turner, non-executive chairman of the board, said in a statement. Dean Foods brands include TruMoo flavored milk drink and other dairy brands. The stock gained more than 2% in the extended session after ending the regular trading day up 4%.
DALLAS, July 26, 2019 /PRNewswire/ -- Dean Foods Company (DF) today announced that Eric Beringause has been appointed President and Chief Executive Officer and a member of the Dean Foods Board of Directors, effective July 29, 2019. Beringause succeeds Ralph Scozzafava, who has stepped down as CEO and resigned from his position on the Board. Beringause brings to Dean Foods more than 30 years of transformational leadership and operational experience at a broad range of blue-chip brands in the food, beverage and consumer products industries, including expertise in food processing and branded and contract manufacturing.
DALLAS , July 23, 2019 /PRNewswire/ -- Dean Foods Company (NYSE: DF) will host a live webcast of its second quarter 2019 earnings conference call on August 6 at 9 a.m. Eastern Time . The webcast is expected ...
Dean Foods (DF) is grappling with cost inflation and soft volumes. However, the company is on track with its comprehensive productivity program, including OPEX 2020 and company-wide initiatives.
DALLAS, July 1, 2019 /PRNewswire/ -- Dean Foods Company (DF) today announced it has successfully increased the Company's borrowing base availability to $265 million under its senior secured revolving credit facility by completing post-closing appraisal work. Chief Executive Officer Ralph Scozzafava said, "During the first quarter, we stated that we expected to expand our revolving credit facility to $265 million by the end of the second quarter and today marks the achievement of that goal. This increases our financial flexibility and further enhances our liquidity. Additional details can be found in the Form 8-K that the Company has filed with the U.S. Securities and Exchange Commission.
Dean Foods (DF) is battling input cost inflation and soft volumes. However, the company is strongly focused on cost-productivity measures and efforts to strengthen portfolio.