UPDATE: Dean Foods Reports Better-Than-Expected Q1 Earnings, Raises Forecast; Shares Surge In Pre-Market Trading

Dean Foods Co

reported a 41% decline in its first-quarter profit on Tuesday. The company reported its Q1 profit at $25.3 million, or $0.14 per share, compared with $43.2 million, or $0.24 per share, in the year-earlier period. The company's net sales increased 3% to $3.05 billion. However, analysts were expecting earnings of $0.06 per share on revenue of $3.07 billion. The company lifted its current-year earnings guidance to $0.67 to $0.75 per share from its previous forecast of $0.55 to $0.65 per share. The company projects its current quarter earnings of $0.15 to $0.20 per share, versus analysts' estimates of $0.13 per share. DF shares jumped 7.92% to $11.85 in pre-market trading. Read more