WhiteWave Foods Q4 Earnings Slide, Adj. EPS Tops View - Quick Facts

(RTTNews) - The WhiteWave Foods Co. (WWAV) said fourth-quarter net income decreased to $18 million from $29 million in the prior year. Earnings per share fell to $0.10 from $0.17.

Adjusted earnings totaled $0.22 compared to $0.18 last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter improved to $679 million from $608 million in the fourth quarter of 2012. Adjusted net sales totaled $609 million last year. Analysts expected sales of $663.77 million.

Gregg Engles, CEO, said, ''Our fourth quarter and full year 2013 results reflect continued strong organic growth across all our businesses. In addition to creating the infrastructure for an independent company in 2013, we also out-performed our expectations. All of us at WhiteWave are proud of our results to date and expect to build on what we've already accomplished."

For the first quarter, adjusted earnings per share are estimated to range from $0.18 to $0.20, excluding an approximately $0.01 estimated investment per earnings per share in the China joint venture. Wall Street looks for earnings of $0.21 per share for the quarter.

The company expects continued momentum in 2014 and expects expects to deliver adjusted earnings per share of between $0.90 and $0.94 for full year 2014. Analysts estimate annual earnings to be $0.91 per share.

On a percentage basis, management anticipates reported net sales growth in the high twenties for the full year and in the first quarter of 2014. This is based on an organic growth rate of 7 to 8 percent in 2014 for the company's existing businesses and the inclusion of Earthbound Farm's operating results beginning in 2014.