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Dean Foods swings to loss in Q1

Dean Foods Co. said its normalized net income for the first quarter was a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

The per-share result swung to a loss from the prior-year profit of 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.7 million, compared with income of $39.9 million in the year-earlier period.

The normalized profit margin declined to negative 0.1% from 2.1% in the year-earlier period.

Total revenue increased 6.2% year over year to $2.00 billion from $1.88 billion, and total operating expenses rose 10.2% year over year to $1.98 billion from $1.80 billion.

Reported net income came to a loss of $10.0 million, or a loss of 11 cents per share, compared to income of $39.6 million, or 43 cents per share, in the year-earlier period.