Dean Foods Profit Beats on Lower Milk Costs and New Brand Launch

Dean Foods (DF) stock jumped Monday morning after the company posted first quarter earnings that beat Wall Street estimates. The diary company reported earnings of $0.24, up from last year's loss of $0.04 per share. Revenue fell to $2.05 billion, down around 12 percent. The company benefited from lower raw milk costs but still reported an overall loss of $73.7 million. The milk provider consolidated numerous brands under a newly launched milk label DairyPure at the beginning of May. Dean has also cut costs by shutting plants and stretching its distribution network. The company spun off WhiteWave Foods organic company back in 2013 and has a strong outlook for the second quarter. Shares jumped on the earnings numbers.