Dean Foods Slips To Loss In Q2; Narrows FY13 Adj. EPS View - Quick Facts

(RTTNews) - Dean Foods Co. (DF) reported that its second-quarter net loss attributable to the company was $56.87 million or $0.30 per share, compared to net income of $56.16 million or $0.30 per share in the same quarter last year.

Loss from continuing operations attributable to the company for the quarter was $0.17 per share, compared to earnings of $0.10 per share last year. On an adjusted basis, second quarter 2013 earnings from continuing operations were $0.13 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.

On an adjusted basis, net income attributable to the company for the latest-quarter totaled $24 million.

Net sales for the quarter were $2.227 billion compared to $2.234 billion in the prior year quarter. Ten analysts had consensus revenue estimate of $2.25 billion for the quarter.

For the third quarter, the company expects adjusted earnings of $0.05 to $0.08 per share. Analysts expect the company to report earnings of $0.11 per share for the third-quarter.

The company narrowed its full-year 2013 guidance for adjusted earnings to a range of between $0.47 and $0.53 per share. While announcing the first-quarter result, the company had expected adjusted earnings per share for fiscal 2013 to between $0.45 and $0.55, excluding WhiteWave's operating results. Analysts expect the company to report earnings of $0.53 per share for fiscal 2013.

The company said lower than previously forecast interest expense due to continued debt reduction is expected to help offset a modest decrease in its EBIT and EBITDA assumptions. The company now expects full year EBITDA to be between $410 million and $430 million.