WhiteWave Foods Q2 Profit Rises, Results Top Estimates; Lifts FY EPS View

(RTTNews) - Consumer packaged food and beverage company WhiteWave Foods Co. (WWAV) Thursday reported second-quarter net income of $34.41 million or $0.19 per share, up from $31.21 million or $0.18 per share in the prior year.

On an adjusted basis, earnings per share were $0.23, while the firm posted $0.16 per share last year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Total net sales for the quarter grew 36 percent to $837.93 million from $615.99 million in the same quarter last year. Organic sales growth was 11 percent. Analysts estimated revenues of $815.44 million for the quarter.

Looking ahead to the third quarter, the company expects adjusted earnings to be in the range of $0.25 to $0.26 per share. Street analysts expect earnings of $0.26 per share for the quarter.

Net sales growth for the quarter is expected to about 30 percent. Excluding Earthbound Farm, net sales on an organic basis are anticipated to increase 8 to 9 percent over the balance of 2014.

For full year 2014, the firm now expects adjusted earnings per share to be in the range of $0.98 to $1.00, up from the prior guidance range of $0.95 to $0.98. Analysts are looking for earnings of $0.98 per share for the year.

The company continues to expect net sales growth in the low-thirties percent range for full year 2014, consistent with previous guidance.