WhiteWave Foods Q3 Profit Rises - Quick Facts

(RTTNews) - The WhiteWave Foods Co. (WWAV) reported higher third-quarter 2014 results driven by continued growth across all platforms.

For the quarter, net income climbed to $40.86 million, or $0.23 per share, from $24.29 million, or $0.14 per share, a year ago. Quarterly adjusted earnings per share of $0.27, a 42 percent increase compared to third quarter 2013, excluding investments associated with its China joint venture. Including joint venture investments, the firm reported third-quarter 2014 adjusted earnings of $0.26 per share.

On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.26 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the third quarter of 2014 were $857 million, a 34 percent increase from $639 million in the prior-year quarter. This growth reflects the inclusion of Earthbound Farm and strong organic growth in both the North America and Europe divisions. Excluding Earthbound Farm, organic net sales rose by 12 percent due mainly to strong volume growth in both segments. Analysts estimated revenues of $843.25 million for the quarter.

In the fourth quarter of 2014, the firm sees net sales growth in the low-thirties on a percentage basis, behind continued growth across all businesses and the inclusion of So Delicious' net sales for part of the quarter, offset by currency fluctuations and by organic milk supply constraints modestly softening growth expectations in the Premium Dairy platform. For full year 2014, management now expects net sales growth in the low to mid-thirties on a percentage basis. Excluding Earthbound Farm, management expects net sales on an organic basis to increase approximately 8 percent in the fourth quarter, resulting in around 11 percent organic net sales growth for full year 2014.