Dean Foods: losses increase in Q2
(CercleFinance.com) - On Tuesday, Dean Foods said that its losses increased in Q2 due to the structural decline in demand for dairy products.
The group based in Dallas (Texas) said that it suffered from a pressure on its volumes due to an acceleration in the decline of the dairy market in the US.
The owner of the Organic Valley brand, which employs 15,000 people in the US, also says that it has suffered from rising milk prices, a trend that it believes will accelerate by the end of the year.
Over the past quarter, its operating loss reached 65 million dollars, or 70 cents a share, compared to a loss of 42 million dollars or 46 cents a share a year earlier.
Although it did not provide any outlook, Dean Foods confirmed that its capex would be between 95 million and 110 million dollars this year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group based in Dallas (Texas) said that it suffered from a pressure on its volumes due to an acceleration in the decline of the dairy market in the US.
The owner of the Organic Valley brand, which employs 15,000 people in the US, also says that it has suffered from rising milk prices, a trend that it believes will accelerate by the end of the year.
Over the past quarter, its operating loss reached 65 million dollars, or 70 cents a share, compared to a loss of 42 million dollars or 46 cents a share a year earlier.
Although it did not provide any outlook, Dean Foods confirmed that its capex would be between 95 million and 110 million dollars this year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.