DALLAS (AP) — Dean Foods Co. (DF) on Tuesday reported a loss of $61.6 million in its first quarter.
On a per-share basis, the Dallas-based company said it had a loss of 67 cents. Losses, adjusted for non-recurring costs, came to 41 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The milk company posted revenue of $1.8 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.9 billion.
The company's shares closed at $1.70. A year ago, they were trading at $8.40.