=Dean Foods (DF) reported earnings on Wed 7 Nov 2018 (b/o)

Dean Foods misses by $0.22, beats on revs; lowers FY18 EPS significantly

• Reports Q3 (Sep) adj. loss of $0.28 per share, $0.22 worse than the S&P Capital IQ Consensus of ($0.06); revenues fell 2.3% year/year to $1.89 bln vs the $1.85 bln S&P Capital IQ Consensus. Closed and consolidated seven manufacturing plants; incurred higher than expected transitory costs Q3 volume in-line with expectations; first full quarter of anticipated customer volume losses Significant inflation in fuel, freight and resin versus prior year 
• Co issues downside guidance for FY18, lowers EPS to ($0.30-0.10) from $0.32-0.52 vs. $0.38 S&P Capital IQ Consensus. 
• "The heavy lifting of the seven plant closures in the third quarter is now behind us. However, residual transitory costs associated with our plant consolidation efforts, retailers continued investment in private label and higher than expected transportation-related inflation leads us to lower our guidance. We now anticipate an adjusted net loss for the full year in the range of $0.10 to $0.30. Our focused and disciplined approach to our enterprise-wide cost productivity plan enabled us to reduce our capital expenditure guidance to between $100 and $120 million. Our full year cash flow guidance is reduced to between $30 and $50 million."