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Stock Market & Financial Investment News

News Breaks
November 15, 2012
08:47 EDTWWAVWhiteWave Foods initiated with a Market Perform at BMO Capital
Target $17.
News For WWAV From The Last 14 Days
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November 10, 2014
12:06 EDTWWAVDean Foods rallies after Q3 results, guidance top estimates
Shares of Dean Foods (DF), a direct-to-store distributor of dairy products, are rallying after the company’s third quarter results, as well as its fourth quarter and full year profit outlook, surpassed analysts’ consensus estimates. WHAT'S NEW: This morning, Dean Foods reported Q3 adjusted earnings per share of (3c) and revenue of $2.37B, topping analysts’ consensus estimates of (13c) and $2.35B, respectively. Chief Financial Officer Chris Bellairs noted that the company was seeing positive signs of progress which will pave the way for it to rebuild profitability in 2015 and beyond. WHAT’S NOTABLE: Looking ahead to Q4, Dean Foods forecast adjusted EPS of 5c-15c, well ahead of analysts' (2c) consensus. The company said the dairy commodity envrionment remains "challenging." The company expects raw milk costs will remain "stubbornly high" despite continued strong global production growth and waning demand, and does not see any relief until 2015. However, the company does expect significant butterfat cost declines at the end of Q4. Dean Foods said industry volumes remain "soft" and sees Q4 volumes to be down low single digits as compared to prior year, but with a continued improvement to net price realization. For FY14, adjusted EPS is seen at (16c)-(6c), also well ahead of expectations of (33c). Adjusted EBITDA for FY14 is expected to be $193M-$208M. On its earnings conference call, Dean Foods said domestic raw milk costs are likely to moderate as it exits 2014. PRICE ACTION: In early afternoon trading, Dean Foods rose $1.89 or 12.76% to $16.26 on more than twice its average daily trading volume. Despite today's advance, the shares have lost approximately 15% over the past 12 months. OTHERS TO WATCH: Other companies in the dairy product space include WhiteWave Foods (WWAV), which also reported better than expected results this morning, down 3.6%, and Lifeway Foods (LWAY), up 0.6%.
09:20 EDTWWAVOn The Fly: Pre-market Movers
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08:46 EDTWWAVWhiteWave Foods raises low-end of FY14 EPS view to 99c-$1.00 from 98c-$1.00
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08:44 EDTWWAVWhiteWave Foods sees Q4 EPS 26c-27c, consensus 28c
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07:07 EDTWWAVWhiteWave Foods reports Q3 EPS ex-items 27c, consensus 26c
Reports Q3 revenue $857.47M, consensus $843.25M.

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