Friday, 2 November 2001

Suiza Foods Revises Third Quarter Earnings Estimate Due to Results Announced By Minority-Owned Packaging Business

Back to all newsroom
Friday, 2 November 2001

DALLAS, Nov 2, 2001 /PRNewswire via COMTEX/ —

Company Still Expects to Report Third Quarter Operating Results in Line With Expectations

Suiza Foods Corporation (NYSE:
SZA), the nation’s leading dairy processor and distributor, today reported that
it is revising its third quarter earnings estimate due to weaker than expected
results announced this afternoon by Consolidated Container Company. Consolidated
Container Company is the packaging business in which Suiza owns a 43% interest.

Prior to today’s announcement by Consolidated Container, Suiza expected to
report third quarter earnings of $1.10 per share. However, due to Consolidated
Container’s third quarter results, Suiza is lowering its third quarter
consolidated earnings estimate by $0.12 to $0.98 per share.

“We are very disappointed with the results announced today by Consolidated
Container. Prior to today’s announcement, we were on track to report earnings
for the third quarter of $1.10, in line with consensus,” said Gregg Engles,
Chairman and Chief Executive Officer of Suiza Foods Corporation. “Our operating
units turned in solid performances, in spite of the continued high commodity
environment and softness in volumes due to September 11th.”

Suiza noted that its third quarter earnings announcement is scheduled for
November 7, 2001. A conference call is scheduled at 10:00 a.m. EST on Nov. 7 to
discuss its third quarter financial performance and outlook for the balance of
the year and to provide an update on the pending merger with Dean Foods. The
call may be heard live by visiting the “Conference Calls Online” section of the
company web site at .

Suiza Foods Corporation, based in Dallas, is the nation’s leading dairy
processor and distributor, producing a full line of company-branded and
customer-branded products. National brands include International Delight(R),
Second Nature(R), Naturally Yours(R), Mocha Mix(R), Sun Soy(TM), kidsmilk(TM)
and fitmilk(R). Regional brands include Adohr Farms(R), Barbe’s(R),
Broughton(R), Brown’s Dairy(TM), Country Delite(R), Country Fresh(R), Dairy
Gold(R), Dairymens(R), Flav-O-Rich(R), Garelick Farms(R), Hygeia(R), Lehigh
Valley Farms(R), London’s(R), Meadow Gold(R), Model Dairy(R), Oak Farms(R),
Poudre Valley(R), Robinson(R), Schenkel’s All Star Dairy, Schepps(R),
Shenandoah’s Pride(R), Suiza Dairy(R), Swiss Dairy(TM), Louis Trauth Dairy(R),
Tuscan(R) and Velda Farms(R), as well as Celta(R) in Spain. Suiza also sells
products under partner or licensed brands in certain regions, including
Borden(R), Foremost(R), Hershey(R)’s and Pet(R). Additionally, the company owns
approximately 43% of Consolidated Container Company, one of the nation’s largest
manufacturers of rigid plastic containers.

Forward Looking Statement

Some of the statements in this press release are “forward-looking” and are made
pursuant to the safe harbor provision of the Securities Litigation Reform Act of
1995. These “forward-looking” statements include statements relating to the
company’s third quarter earnings estimates. These statements involve risks and
uncertainties, which may cause results to differ materially from the statements
set forth in this press release. The company’s earnings estimates are based on
the company’s information to date and are subject to finalization and auditor
review. The forward-looking statements in this press release speak only as of
the date of this release. Suiza expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to such statements to
reflect any change in its expectations with regard thereto or any changes in the
events, conditions or circumstances on which any such statement is based.

SOURCE Suiza Foods Corporation

CONTACT: Cory M. Olson, Vice President and Treasurer, +1-214-303-3645,
or P.I. Aquino, Assistant Treasurer, +1-214-303-3437, both of Suiza Foods

All the latest from Dean Foods


Latest news

In May 2020, Dairy Farmers of America (DFA) acquired a substantial portion of Dean Foods' assets. As a family farmer-owned and governed cooperative, no one has a greater interest in preserving and expanding milk markets than DFA.

6 May, 2020
Dean Foods Completes Sale of its Miami, Florida Facility to Mana Saves McArthur, LLC
DALLAS--(BUSINESS WIRE)--Dean Foods today announced that it has completed the previously announced s...
1 May, 2020
Dean Foods Completes Sale of Assets to Dairy Farmers of America
DALLAS--( BUSINESS WIRE )--Dean Foods Company ("Dean Foods" or the "Company") today announced that i...
30 April, 2020
Dean Foods Completes Sales of its Uncle Matt’s Business and the Majority of the Meadow Gold Hawaii...
DALLAS--(BUSINESS WIRE)--Dean Foods ("Dean Foods" or the "Company") today announced that it has comp...
22 April, 2020
Dean Foods Announces Asset Purchase Agreement with MGD Acquisition, LLC for the Sale of the Majority...
MGD Acquisition to Operate Meadow Gold Hawaii as an Ongoing Business to Continue Serving the Hawaiia...
13 April, 2020
Dean Foods Announces Termination of Agreement in Principle with Industrial Realty Group, LLC for the...
Reached Agreement in Principle with an Interested Party for the Sale of Dean Foods’ Hilo Facility ...
4 April, 2020
Dean Foods Receives Court Approval for the Sale of Substantially All of Its Assets
DALLAS--(BUSINESS WIRE)--Dean Foods Company ("Dean Foods" or the "Company") today announced that the...
1 April, 2020
Dean Foods Reaches Agreement in Principle With Industrial Realty Group, LLC for the Sale of Dean Foo...
DALLAS--(BUSINESS WIRE)--Dean Foods Company ("Dean Foods" or the "Company") today announced that it ...
31 March, 2020
Dean Foods Announces Dairy Farmers of America as Winning Bidder for Substantially All of Its Assets
Prairie Farms Dairy, Mana Saves McArthur, LLC, Producers Dairy Foods and Harmoni, Inc. to Purchase A...
17 February, 2020
Dean Foods Enters Into Asset Purchase Agreement with Dairy Farmers of America
Dairy Farmers of America to Serve as Proposed “Stalking Horse Bidder” in a Court-Supervised Sale...
20 December, 2019
Dean Foods Receives Final Court Approval for $850 Million in Debtor-In-Possession Financing
DALLAS --(BUSINESS WIRE)--Dec. 20, 2019-- Dean Foods Company (NYSE: DF) (“Dean Foods” or the “...
14 November, 2019
Dean Foods Company Receives Court Approval of “First Day” Motions to Support Normal Busi...
Obtains Interim Approval to Access DIP Financing Customers Receiving Uninterrupted Supply of Dairy P...
12 November, 2019
Dean Foods Company Initiates Voluntary Reorganization with New Financial Support from Existing Lende...
Company Secures Commitments for $850 Million in DIP Financing to Support Operations In Advanced Disc...
25 October, 2019
Dean Foods Company Announces Date for Third Quarter 2019 Earnings Release and Conference Call
DALLAS , Oct. 25, 2019 /PRNewswire/ --  Dean Foods Company (NYSE: DF) today announced that it will ...
6 September, 2019
Dean Foods Concludes Strategic Alternatives Review; Focuses on Go-Forward Strategy Under New Leaders...
DALLAS , Sept. 6, 2019 /PRNewswire/ --  Dean Foods Company (NYSE: DF) (" Dean Foods " or the "Compa...
6 August, 2019
Dean Foods Announces Second Quarter 2019 Results
DALLAS , Aug. 6, 2019 /PRNewswire/ -- Dean Foods Company (NYSE: DF) today reported second quarter 20...
26 July, 2019
Dean Foods Appoints Eric Beringause as President and CEO
Industry Veteran Brings More Than Three Decades of Experience in Food, Beverage and Consumer Product...
View the newsroom

We’re proud to support national organizations that are nourishing children, promoting animal welfare, and helping in times of disaster.

White papers