Financials
Cheese/dairy sales improve at Kraft Heinz, drop for Dean Foods
The dairy cooperative said its Land O Lakes brand benefitted from strong volumes in Foodservice.
Lifeway Foods sales up 5.2% through 9 months
Third quarter 2016 (ended Sept. 30) net sales increased 1.3% to $30 million from $29.6 million in the third quarter of 2015 reflecting higher volumes of private label and organic products partially offset by an increased investment in trade programs. Gross profit as a percent of net sales decreased to 26.6% from 30.2% in the same period last year. The decrease in gross margin reflects increased trade promotion and unfavorable mix.
Total consolidated net sales increased by $4.6 million, or approximately 5.2%, to $93.7 million during the nine-month period ended September 30, 2016 reflecting volume gains in private label and organic products and lower trade spending compared to last year. Gross profit as a percent of net sales increased to 28.2% from 26.2% in the same period last year. The increase reflects lower input costs, primarily milk, and lower trade spending.
Through 9 months, net sales at Dean Foods trail 2015
For the third quarter ended Sept. 30, 2016, net sales were $1.964 billion, a drop from $2.033 billion in the same period a year ago. Net income also was less ($14.5 million compared to $20.23 million).
Through nine months, total net sales dropped to $5.69 billion from $6.09 billion. Net income for the nine-month period was $87.09 million compared to a net loss in 2015.
Cheese/dairy sales improve at Kraft Heinz
Cheese and dairy sales increased to $1.67 billion in the quarter ended Oct. 2, 2016, compared to $1.532 in 2016. Through nine months of 2016, net sales in the segment are $5.073 billion, an increase from $4.209 billion in 2015.
Land O’Lakes dairy foods segment is up for the year
Net sales rose in the third quarter and through nine months at the dairy cooperative. For the three months ended Sept. 30, net sales were $2.8 billion, compared to $2.6 billion in 2015. Through nine months, net sales were $9.973 billion, compared to $9.734 billion in 2015.
Without giving details, the dairy cooperative reported that “third-quarter results for Dairy Foods, including the Land O Lakes brand, benefitted from continued strong volumes in Foodservice. Overall performance was up year-over-year due in part to less volatile milk powder markets.”
Source: Company reports
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