WhiteWave Foods has booked a drop in third-quarter earnings as an increase in expenses hit earnings.
In the three months to the end of September, WhiteWave, which was spun off from Dean Foods last year, posted a profit of US$26.3m, down from $29.8m a year earlier. Excluding stock-based compensation and other items, earnings rose to 16 cents per share, it said.
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Operating profit in the period dropped to $43.3m from $48m last year, while sales rose 13% to $574.9m. The increase in sales reflected “strong” volume growth across its North American segment, particularly in its plant-based foods and beverages and its coffee creamers and beverages platforms.
