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WhiteWave Foods Reports Strong Third Quarter 2013 Results

The Company expects adjusted diluted earnings of between $0.19 to $0.20 per share for the fourth quarter. For the full year 2013, the Company now anticipates adjusted diluted earnings per share of between $0.71 and $0.72.

“We are pleased with our strong third quarter results, as we were able to once again deliver EPS growth at two times our topline growth rate,” said Kelly Haecker, Executive Vice President and Chief Financial Officer. “Although we are facing some inflationary pressures, our capacity expansions projects are starting to come on line, providing greater opportunities to leverage our cost structure and expand margins over time. In short, we remain focused on continually improving our operating performance and look to close out the year with a strong fourth quarter.”

CONFERENCE CALL/WEBCAST

A webcast to discuss the Company’s financial results and outlook will be held today, November 7, 2013, at 10:00AM ET and may be heard live by visiting the “Investor Relations” section of the Company’s website at www.whitewave.com/investors. A slide presentation will accompany the webcast and a webcast replay will be available for approximately 45 days following the event within the Investor Relations section of the Company's website.

EXPLANATION OF NON-GAAP FINANCIAL MEASURES

Certain financial information in this release relates to periods prior to the Company’s initial public offering in October 2012 (the “IPO”) and the separation of our business from Dean Foods Company’s other businesses. Prior to the IPO, the Company had nominal assets and no liabilities, and had conducted no operations. In connection with the IPO, Dean Foods contributed the capital stock of its wholly-owned subsidiary WWF Operating Company (“WWF Opco”) to the Company. At the time of the contribution, WWF Opco, which is now a wholly-owned subsidiary of the Company, held substantially all of the historical assets and liabilities related to the Company’s current business. Under U.S. generally accepted accounting principles (“GAAP”), the contribution of WWF Opco to the Company was treated as a reorganization of entities under common control under Dean Foods. As a result, we have retrospectively presented the unaudited pro forma adjusted condensed consolidated financial information of the Company and WWF Opco for all periods presented.

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