WhiteWave Foods Reports Strong Third Quarter 2016 Results

  • Reported Net Sales Increased 5% & Constant Currency Net Sales Increased 6%
  • Reported Operating Income Increased 17%; Adjusted Constant Currency Operating Income Increased 19% Behind Continued Margin Expansion
  • Reported Diluted Earnings Per Share Increased 15% to $0.32; Adjusted Diluted Earnings per Share Increased 11% to $0.37 & Adjusted Constant Currency Diluted Earnings per Share Increased 17% to $0.39, Excluding China Joint Venture Investments
  • WhiteWave Stockholders Approved Merger Agreement for Danone to Acquire All Outstanding Shares for $56.25 Per Share

DENVER, Nov. 09, 2016 (GLOBE NEWSWIRE) -- The WhiteWave Foods Company (NYSE:WWAV) today reported financial results for the third quarter ended September 30, 2016.
Financial Summary: Three Months Ended September 30,  
In millions, except EPS   2016       2015     % Change*  
             
Total Net Sales            
Reported $ 1,054     $ 1,004       +5 %  
Constant Currency $ 1,062     $ 1,004       +6 %  
Organic Constant Currency $ 1,037     $ 1,004       +3 %  
             
Total Operating Income            
Reported $ 109     $ 93       +17 %  
Adjusted $ 117     $ 102       +14 %  
Adjusted Constant Currency $ 122     $ 102       +19 %  
             
Net Income            
Reported $ 58     $ 50       +16 %  
Adjusted $ 64     $ 57       +13 %  
Adjusted, excluding China J.V. $ 67     $ 60       +12 %  
             
Diluted Earnings per Share (EPS)            
Reported $ 0.32     $ 0.28       +15 %  
Adjusted $ 0.35     $ 0.31       +12 %  
Adjusted, excluding China J.V. $ 0.37     $ 0.33       +11 %  
Adj. Constant Currency, excluding China J.V. $ 0.39     $ 0.33       +17 %  
             
EBITDA            
Adjusted $ 154     $ 135       +14 %  
Adjusted, excluding China J.V. $ 157     $ 139       +14 %  
Adj. Constant Currency, excluding China J.V. $ 165     $ 139       +19 %  
*Certain change percentages may not recalculate using the rounded dollar amounts provided  

WhiteWave's third quarter 2016 reported diluted earnings per share was $0.32 and adjusted diluted earnings per share was $0.37, excluding operating costs associated with its China joint venture. Including joint venture costs, WhiteWave reported third quarter 2016 adjusted diluted earnings per share of $0.35.

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