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Dean Foods Q2 profit climbs 34.0% YOY

Dean Foods Co. said its normalized net income for the second quarter was 41 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS rose 38.7% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $38.0 million, a gain of 34.0% from $28.4 million in the prior-year period.

The normalized profit margin increased to 1.9% from 1.4% in the year-earlier period.

Total revenue fell 8.2% on an annual basis to $1.85 billion from $2.01 billion, and total operating expenses fell 9.2% on an annual basis to $1.77 billion from $1.95 billion.

Reported net income rose 24.2% year over year to $33.0 million, or 36 cents per share, from $26.6 million, or 28 cents per share.