Dean Foods Co. released it’s second quarter results on Thursday. And with the help of lower commodity prices and cost savings from it’s merger with Suiza Foods, quarterly profits more than doubled.

Dean, the nation’s largest dairy company, posted a net income of $73.2 million or 72 cents a share. That’s compared to first quarter earnings of $34.6 million or 55 cents a share.

The company has grown by consolidating a range of smaller dairies and branded food companies. Recent acquisitions include Marie's Quality Foods, and the remaining 64 percent equity interest in White Wave.
And last month, Dean announced an expanded licensing agreement with Land 'O Lakes. The new partnership gives Dean the rights to use the Land 'O Lakes brand on its own dairy products.

Excluding restructuring costs, earnings were 76 cents in the quarter. Analysts were only expecting Dean to post earnings of 67 cents to 71 cents a share in the second quarter.

In May, the company projected it would see 8 percent to 10 percent earning growth per share in the near term. Dean projects to achieve year-end earnings of $2.75 to $2.78 a share with third-quarter earnings of about 67 cents to 69 cents per share. That’s right in line with what analysts are saying. According to First Call, analysts on average forecast Dean’s per-share earnings at 68 cents for the third quarter and $2.64 for the year.

Reuters