Dean Foods, parent of DairyPure®, LAND O LAKES®, Berkeley Farms®, and more, has released its Q4 2015 financial report, citing rising profits even as milk volumes sold continue to decline.
“The fourth quarter marked the successful completion of a very strong year,” explained the company’s Chief Executive Officer, Gregg Tanner in a release. “I’m very pleased with the sequential improvement we saw in our operational and financial performance from Q3 to Q4. I believe the 2015 financial results demonstrate that we're driving the right initiatives and agenda.”
Tanner also noted that he expects the company’s strong financial position to allow it to continue to grow and create shareholder value. For this most recent Q4, Dean reported a profit of $18.5 million, or 20 cents a share, up from $5.3 million, or 6 cents, in Q4 2014.
This is despite total volume across all products declining by 3.6 percent to 658 million gallons, down from 683 million gallons in the fourth quarter of 2014. According to the USDA's recently published category data, fluid milk volumes declined 1.1% in the fourth quarter on an unadjusted basis.
Other highlights from Dean Food’s Q4 2015 financial report include:
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