Dean Foods Co. said its normalized net income for the first quarter amounted to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.
The per-share result swung to a profit from the prior-year loss of 7 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $22.4 million, compared with a loss of $6.8 million in the prior-year period.
The normalized profit margin rose to 1.1% from negative 0.3% in the year-earlier period.
Total revenue declined 12.4% year over year to $2.05 billion from $2.34 billion, and total operating expenses decreased 14.5% year over year to $2.00 billion from $2.34 billion.
Reported net income came to a loss of $73.5 million, or a loss of 78 cents per share, compared to a loss of $9.4 million, or a loss of 10 cents per share, in the prior-year period.
