Dean Foods reported a third quarter loss of $1.54 billion dollars compared to earnings of $24.3 million in the year-earlier period, due to a $1.6 billion goodwill charge levied on the company.
Excluding the charge, adjusted earnings totaled $33.3 million, up from $23.3 million last year. The Dallas-based company reported revenue of $3.4 billion, up 9.7 percent from the year-earlier period.
Sales in the Fresh Dairy Direct-Morningstar unit increased to $2.9 billion compared to 2.6 billion from the year-earlier period. The WhiteWave-Alpro segment reported net sales of $531 million, up from $478 million the year before.
Shares of Dean Foods are down 4.01 percent to $10.06 at late morning trading.