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DEAN FOODS CO

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Mar 20, 2020. Its latest SEC filing is a 15-12B from Jun 1, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Manufactures and distributes branded and private-label dairy products, including fluid milk and ice cream, to retailers, distributors and foodservice and institutional buyers across the United States.

How Did They Make Money?

Retailers and other buyers purchase dairy and beverage products on delivery; payment terms vary, with customers generally receiving credit terms of up to 30 days.

FY2019 revenue

Who Were Their Customers?

Retailers, distributors, foodservice outlets, educational institutions and government entities buy its dairy products across the United States. Sales are mainly handled by local and regional teams, sometimes with brokers, and most products are delivered directly to customer locations.

Customers above 10% of revenue, FY2019
of revenue from one customer
FY2017: 18% from one customer

Did Revenues Turn Into Profits?

No. It lost $499.9M in FY2019.

Operating income, FY2019
−5% of revenue
▲ +27% (Loss) vs FY2018 (−$315.2M, −4%)
Net income, FY2019
−7% of revenue
▲ +53% (Loss) vs FY2018 (−$326.9M, −4%)
Free cash flow, FY2019
−2% of revenue
▼ Now a loss vs FY2018 ($37.6M, 0%)

How Were They Changing?

Since the FY2019 annual report
  • Apr 14, 2021 Court confirmed a liquidation plan that cancels existing shares The plan provides no distributions on account of common stock.
  • May 7, 2020 Sold substantially all assets in seven transactions Six buyers acquired facilities, brands and other assets for approximately $545 million.

Shrank. Revenue fell 10% in 4 years, from $8.1B in FY2015 to $7.3B in FY2019, about 3% a year.

Good Karma offerings The latest report says Dean Foods now sells flax-based beverages and yogurt under Good Karma following its acquisition; the older report describes dairy products, ice cream, juices, teas and bottled water.

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