NEW YORK (TheStreet) -- Diamond Foods (DMND) shares are up 3.3% to $29.95 in after-hours trading on Monday after the packaged food company reported its first quarter financial results after the closing bell today.
The company reported first quarter non-GAAP earnings of $8.9 million, or 28 cents per diluted share on an adjusted basis, that was 33% better than the company reported during the same period last year and 3 cents better than analysts were expecting for the period.
The company also reported a 5.1% increase in net sales to $246.6 million, short of analysts' $253.5 million revenue expectations for the quarter.
Diamond Foods reiterated its full year fiscal 2015 outlook of an EPS between 90 cents and $1.10 per diluted share with an estimated EBITDA between $115 million and $123 million.
TheStreet Ratings team rates DIAMOND FOODS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIAMOND FOODS INC (DMND) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: DMND Ratings Report