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Why Dean Foods Co's Shares Plunged 19% Today

TheMotleyFool

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Why Dean Foods Co's Shares Plunged 19% Today

Shares of dairy company Dean Foods Co (NYSE: DF) fell as much as 20.5% in trading Tuesday after reporting second-quarter earnings. At 10:55 a.m. EDT shares were still down 19.3% on the day and showed no signs of recovering.

Revenue was up 4.2% to $1.93 billion in the quarter, but net income fell 47.1% to $17.6 million, or $0.19 per share. Revenue fell slightly below the $1.94 billion analysts were expecting and adjusted earnings of $0.21 per share was below the $0.31 analysts were expecting. It's the bottom-line miss that really sent shares lower on Tuesday.

Image source: Getty Images.

Source: Fool.com