Dean Foods Reduces Forecast as Raw Milk Squeezes Margins
This article is for subscribers only.
Dean Foods Co., the largest U.S. dairy processor, cut its full-year earnings forecast after higher raw milk costs squeezed margins and winter weather disrupted deliveries to schools.
Earnings excluding one-time items will be at least 60 cents a share, the Dallas-based company said today in a statement, down from a February forecast of 73 cents to 86 cents. The shares dropped the most in almost three months.