Monthly Market Risk Update: April 2024 [SlideShare]
dean foods Gregg Engles Investor Day
1.
2.
3. The following statements made in this presentation are “forward looking” and are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995: statements relating to (1) projected
sales (including for individual segments, for specific product lines and for the company as a whole), profit
margins, net income and earnings per share, (2) our growth strategy, (3) our branding initiatives (4) our
integration, innovation, and research and development plans, and (5) our cost-savings initiatives. These
statements involve risks and uncertainties that may cause results to differ materially from those set forth in this
presentation. Financial projections are based on a number of assumptions. Actual results could be materially
different than projected if those assumptions are erroneous. Sales, profit margins, net income and earnings
per share can vary based on a variety of economic, governmental and competitive factors, which are identified
in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K (which
can be accessed on our website at www.deanfoods.com or the website of the Securities and Exchange
Commission at www.sec.gov). The Company's ability to profit from its branding initiatives depends on a
number of factors including consumer acceptance of the Company's products. All forward looking statements
in this presentation speak only as of the date of this presentation. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any such statements to reflect any change in our
expectations with regard thereto or any changes in the events, conditions or circumstances on which any such
statement is based.
4. Certain non-GAAP financial measures contained in this presentation,
including adjusted diluted earnings per share, free cash flow,
consolidated adjusted operating income and consolidated adjusted net
income, have been adjusted to eliminate the net expense or net gain
related to certain items identified in our press releases. A full
reconciliation of these measures calculated according to GAAP and on
an adjusted basis is contained in the appendix of this presentation
and in such press releases, which are publicly available on our web site
at www.deanfoods.com/investors.
5. Help you better understand Dean, our
opportunities and how we plan to capture them
Explain why Dean Foods is the best investment
opportunity in food and beverage today
9. $44B category
Leader in conventional and value added milk
– 5x size of nearest conventional milk competitor
– #1 share in soy and organic, #2 in creamers
Leader across the U.S. refrigerated case
– 3x as large as Tropicana
– 4x as large as Dannon
13. Other
Other Fluid
2%
Dairy
8%
Cultured
5%
Other
National chilled DSD and
Beverages
plant footprint
5%
Ice Cream
9%
Cost leadership
National selling with local
execution
Fresh
Milk
71%
14. Other
Rachel’s 3%
Horizon
6%
Organic
Land 28%
O’Lakes
National, premium brands
15%
#1 in soy and organic milk;
#2 in creamers
International
Delight
20%
Transformation complete
Silk
28%
15. Other
Aerosol 2%
8% Creamers
41%
US leader in national long
Ice Cream Mix
shelf-life private label dairy
21%
Compelling transformation
opportunity
Cottage Cheese
10%
Yogurt Sour Cream
8% 10%
19. Joe Scalzo
Jack Callahan
Harrald Kroeker
Debbie Carosella
20. Joe Scalzo
Jack Callahan
Harrald Kroeker
Debbie Carosella
Paul Moskowitz
21. Joe Scalzo Rick Fehr
Jack Callahan
Harrald Kroeker
Debbie Carosella
Paul Moskowitz
22. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Harrald Kroeker
Debbie Carosella
Paul Moskowitz
23. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Chris Sliva
Harrald Kroeker
Debbie Carosella
Paul Moskowitz
24. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Chris Sliva
Harrald Kroeker
Greg McKelvey
Debbie Carosella
Paul Moskowitz
25. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Chris Sliva
Harrald Kroeker
Greg McKelvey
Debbie Carosella Kelly Duffin-Maxwell
Paul Moskowitz
26. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Chris Sliva
Harrald Kroeker
Greg McKelvey
Debbie Carosella Kelly Duffin-Maxwell
Paul Moskowitz Steve Kemps
27. Joe Scalzo Rick Fehr
Gregg Tanner
Jack Callahan
Chris Sliva
Harrald Kroeker
Greg McKelvey
Debbie Carosella Kelly Duffin-Maxwell
Paul Moskowitz Steve Kemps
28.
29. Industry Consolidation
Productivity/Cost Focus
Process & Technology
Innovation by Segmentation
30. Local National
Managed with tribal Data, systems and
knowledge and intuition process driven
Small, private company Deep functional capability
mindset and CPG mindset
No investment in Category ripe for
innovation or R&D innovation and R&D
32. DSD Distribution Procurement
WhiteWave
Conversion
Network Optimization
33. Strengthen our selling and Deliver category-leading
delivery capabilities innovation
– Define common market
Support our brands with
organization structure
marketing excellence
– Upgrade marketing capabilities
Continue to migrate sales to a
– Elevate selling skills
direct model
– Standardize in store execution
Continue to drive share Provide category leadership to
retailers
34. Supply Chain New growth platforms
– e.g., Hero JV
R&D
Go-to-market system
Innovation
Appropriate acquisitions
Standard process and training
Information systems
Selling skills
35. At least
$1.55
+19%
$1.30
$1.20
2007 2008 2009
36. Leader in attractive categories
Valuable set of investment opportunities
– Extend our low cost position
– Drive revenue & profit in our core
– Invest for growth
Defined strategies and initiatives
Sustainable earnings progression over time
37. Business Overview
– WhiteWave: Positioned for Growth
– DSD Dairy: Strengthening our Advantaged Position
Strategic Levers
– Extending Our Low Cost Position
– Building R & D Capability at Dean Foods
Financial Algorithm
Reception and Exhibits
