NEW YORK (TheStreet) -- Shares of Dean Foods (DF) are higher by 4.96% to $18.19 on heavy volume in early afternoon trading on Tuesday, one day after the food and beverage company reported better than expected earnings results for the 2015 first quarter.
So far today, 2.5 million shares of Dean Foods have exchanged hands as compared to its average daily volume of 1.63 million shares.
For the most recent quarter Dean Foods said its non-GAAP adjusted earnings were 22 cents per share, compared to a loss of 5 cents per share for the quarter ended March 2014.
Analysts polled by Thomson Reuters were looking for earnings of 18 cents per share.
The company's 2015 first quarter revenue fell by 12.4% to $2.05 billion, just shy of the $2.1 billion analysts had forecast.
The company said its financial results were positively impacted by resilience in prices for its dairy products.
Looking to the second quarter, the company is guiding for earnings between 20 cents and 30 cents per share, while analysts are expecting earnings of 20 cents per share.
"I'm very pleased with the progress we have made over the last several quarters in support of our long-term, sustainable business model. This past quarter, we continued to deliver sequential improvements to our operational and financial results, and we recapitalized our balance sheet to provide the organization with significant flexibility going forward," company CEO Gregg Tanner said in a statement.
"We are proud of our track record of innovation and last week's launch of DairyPure, the country's first and largest fresh, white milk national brand, will provide additional benefits to consumers, our category, our customers and our company," Tanner added.