(RTTNews.com) - Dairy producer Dean Foods Co. ( ) on Tuesday reported a 47 percent decline in profit for the second quarter from last year as an increase in sales was more than offset by lower volume and higher costs.
Adjusted earnings per share for the quarter missed analysts' expectations. Looking ahead, the company lowered its earnings outlook for fiscal 2017, saying its volume shortfall will drive lower financial results than its previous expectations. The company's shares are down more than 6 perecnt in pre-market activity.
Chief Executive Officer Ralph Scozzafava said, "In the second quarter, we faced a challenging and rapidly evolving retail environment...
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