WhiteWave Foods Sees Q2 Profit In Line - Update

(RTTNews) - WhiteWave Foods Co. (WWAV) said Monday it expects second-quarter earnings to increase 28 percent, on growth at its North America and Europe segments. Excluding items, earnings are forecast to match Street estimates, with sales exceeding expectations.

WhiteWave Foods makes plant-based foods and beverages, coffee creamers and beverages, and dairy products. The company expects to report second-quarter net earnings of $31 million, compared with $26 million last year. On a per share basis, earnings are anticipated to be flat at $0.18 due to a higher share count.

Excluding items, adjusted earnings for the quarter are expected to be $28 million or $0.16 per share, compared with $22 million or $0.13 per share last year.

Analysts polled by Thomson Reuters currently expect earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

The company expects second-quarter net sales to grow 11 percent to $616 million from $554 million a year ago. Analysts estimate sales of $608.17 million for the quarter.

North American segment is expected to rise 10 percent, on growth across all platforms, including plant-based foods and beverages, premium dairy.

Sales in Europe are expected to grow 13 percent, on volume growth of products such as almond and hazelnut beverages, as well as of non-dairy yogurt offerings.

The company's stock closed Monday at $17.38, down 0.74%, on a volume of 423 thousand shares on the NYSE. In after hours, the stock dropped $0.21 or 1.21%.