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WhiteWave Foods lifts 2015 outlook

Published: 06:11 10 Nov 2015 AEDT

silk-soy
WhiteWave sells Silk-branded soy and almond milks

WhiteWave Foods (NYSE:WWAV) gained in morning trading after the packaged food company lifted its outlook for the year while reporting better-than-expected third-quarter results.

Shares rose 4.4% to $43.29 at 2:02 p.m. in New York.

WhiteWave, which sells Silk-branded soy and almond milks, said in a statement that it is now expecting full-year adjusted earnings per share of $1.22 to $1.23, higher than the $1.16 analysts have projected.

For the current quarter, the company guided for earnings of $0.35 to $0.36 per share, compared with the $0.35 analysts estimate.

WhiteWave said the recently acquired businesses will continue to help drive results.

For its third quarter, WhiteWave reported net income of $50mln, or $0.28 per share, up from $40.9mln, or $0.23 per share, a year earlier.

Stripping out items, earnings per share rose to $0.33 from $0.27.

Revenue increased 17% to $1bn. Analysts projected $0.31 in adjusted per-share profit on $974.9mln in revenue, according to Capital IQ.

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