On Monday, Shares of Dean Foods Company (NYSE:DF), lost -2.93% to $17.21.
Dean Foods Company stated second quarter 2015 results.
Highlights
- Q2 net income per diluted share was $0.28 and adjusted net income per diluted share was $0.33.
- Q2 adjusted results reflect the highest gross profit and per gallon operating income since 2012.
- Financial results improved for the fourth successive quarter as price realization offset volume deleverage.
- Stepped up advertising and marketing supports Q2 launch of DairyPure®, the first and largest fresh, white milk national brand.
- Q3 adjusted diluted earnings are predictable to be $0.17 to $0.27 per share.
Cash Flow
Merged net cash offered by ongoing operations for the six months ended June 30, 2015, totaled $272 million. Free cash flow offered by ongoing operations, which is defined as net cash offered by ongoing operations less capital expenditures, was $224 million for six months ended June 30, 2015. Free cash flow comprises the impact of lower commodity costs, $56 million of federal tax refunds in respect of 2014 and the third of four annual litigation settlement payments of $19 million.
Dean Foods Company, a food and beverage company, processes and distributes milk, and other dairy and dairy case products in the United States. It manufactures, markets, and distributes dairy case products, counting fluid milk, ice cream, cultured dairy products, creamers, ice cream mix, and other dairy products; and produces and distributes juices, teas, and bottled water.
Shares of FuelCell Energy Inc. (NASDAQ:FCEL), inclined 28.84% to $0.89, during its last trading session.
FuelCell Energy declared the sale of 5.6 megawatts of fuel cell modules to South Korean partner POSCO Energy and offered a progress update on the local manufacturing of fuel cell components in South Korea for the Asian market. The fuel cell component manufacturing building in Pohang, South Korea is accomplished and is concluding pre-production testing with full production predictable to start in the fall of 2015. Raw materials have been ordered and delivered from the supply chain shared with FuelCell Energy. Increasing purchasing volumes will reduce the per-unit cost for both FuelCell Energy and POSCO Energy as the integrated global supply chain serves both companies.
The global integrated supply chain of FuelCell Energy serves the new POSCO Energy manufacturing facility in South Korea in addition to the existing North American and European facilities. Production in Asia will lead to higher purchasing volumes, resulting in more favorable supplier pricing.
FuelCell Energy, Inc., together its auxiliaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation.
Finally, McDermott International Inc. (NYSE:MDR), ended its last trade with 3.57% gain, and closed at $4.64.
McDermott International declared financial and operational results for the quarter ended June 30, 2015. The Company stated second quarter 2015 net income of $11.5 million, or $0.04 per fully diluted share contrast to a net loss of $7.4 million, or $0.03 per diluted share, in the preceding-year quarter. Net of restructuring charges and one-time losses on the impairment and disposal of assets, the second quarter income would have been raised by $24.1 million or $0.08 per fully diluted share.
Second Quarter 2015 Operating Results
The Company stated second quarter 2015 revenues of $1.05 billion, an enhance of $570.5 million, contrast to revenues of $476.1 million for the preceding-year second quarter. Revenues for the second quarter of 2015 were positively influenced by strong revenue recognition at the INPEX Ichthys project, Brunei Shell Petroleum project and three Middle East projects.
McDermott’s operating income was $41.6 million for the second quarter of 2015 and comprised of $15.4 million of restructuring expenses and $8.7 million of one-time losses on the impairment and disposal of assets. These results compare to the 2014-second quarter operating income of $31.5 million, which comprised of $1.3 million of restructuring expenses and $45.7 million of gains from the disposal of assets and impairments. Net of the asset gains and impairments, the operating income for the second quarter of 2014 would have been negative. Operating income for the second quarter 2015 was positively influenced by revenue improvements, a project close out in Brazil and marine utilization.
Cash used in operating activities in the second quarter 2015 was $7.6 million, contrast to a use of cash of $70.6 million for the second quarter 2014.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
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