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Dean Foods profit beats consensus by 16.0% in Q2

Dean Foods Co. said its normalized net income for the second quarter amounted to 30 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

The per-share result swung to a profit from the prior-year loss of 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.4 million, compared with a loss of $11.3 million in the year-earlier period.

The normalized profit margin rose to 1.4% from negative 0.5% in the year-earlier period.

Total revenue declined 15.8% on an annual basis to $2.01 billion from $2.39 billion, and total operating expenses fell 18.5% on an annual basis to $1.95 billion from $2.40 billion.

Reported net income came to $26.6 million, or 28 cents per share, compared to a loss of $935,610, or a loss of 1 cents per share, in the year-earlier period.