April 19, 2014 1:41 AM ET

Food Products

Company Overview of The WhiteWave Foods Company

Company Overview

The WhiteWave Foods Company, a consumer packaged food and beverage company, manufactures, markets, distributes, and sells branded plant-based foods and beverages, coffee creamers and beverages, dairy, and organic greens and produce products in North America and Europe. It operates through two segments, North America and Europe. It provides plant-based foods and beverages products, including soy-, almond-, coconut-, hazelnut-, rice-, and oat-based products, such as Silk soymilk, Silk Almondmilk, Silk PureCoconut coconutmilk, and Silk soy yogurt; and soy, hazelnut, almond, rice and oat drinks, soy yogurt, desserts, soy cream, and margarine under the Alpro and Provamel brand names. It also offe...

1225 Seventeenth Street

Suite 1000

Denver, CO 80202

United States

3,900 Employees

Phone:

303-635-4500

Key Executives for The WhiteWave Foods Company

Chairman and Chief Executive Officer
Age: 55
Total Annual Compensation: $1.1M
President and Executive Vice President
Age: 47
Total Annual Compensation: $650.0K
Chief Financial Officer and Executive Vice President
Age: 48
Total Annual Compensation: $500.0K
Executive Vice President and Chief Executive Officer of Alpro
Age: 54
Total Annual Compensation: $602.6K
Executive Vice President of Human Resources
Age: 62
Total Annual Compensation: $450.0K
Compensation as of Fiscal Year 2013.

The WhiteWave Foods Company Key Developments

WhiteWave Foods Company Locates Operations in Clearfield County

WhiteWave Foods Company will locate operations in Clearfield County, creating at least 100 new jobs. The company, will locate operations in a 220,000-square-foot vacant facility located in Sandy Township, Clearfield County. The project is expected to generate a capital investment in infrastructure improvement, equipment and employee training costs. The expansion is projected to create 100 new jobs and retain eight existing positions. The company will also locate in a Keystone Opportunity Expansion Zone set to expire in 2023. The project was coordinated by the Governors Action Team, a group of economic development professionals who work directly with businesses that are considering locating or expanding in Pennsylvania in collaboration with the Clearfield County Economic Development Corporation.

The WhiteWave Foods Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014

The WhiteWave Foods Company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the year, the company reported net sales of $2,503.487 million against $2,175.374 million a year ago. Total net sales were $2,542.063 million against $2,289.438 million a year ago. Operating income was $155.432 million against $180.253 million a year ago. Income from continuing operations before income taxes was $141.234 million against $169.372 million a year ago. Income from continuing operations was $97.041 million against $112.514 million a year ago. Net income attributable to the company was $97.041 million or $0.56 per diluted share against $113.694 million or $0.73 per diluted a year ago. Adjusted operating income was $209 million against $173 million a year ago. Adjusted net income was $129 million or $0.74 per diluted share against $104 million or $0.60 per diluted share a year ago. Adjusted Income before income taxes was $191.452 million against $149.671 a year ago. For the quarter, the company reported total net sales of $679 million against $608 million a year ago. Operating income was $29 million against $46 million a year ago. Net income was $18 million or $0.10 per diluted share against $29 million or $0.17 per diluted share a year ago. Adjusted operating income was $61 million against $48 million a year ago. Adjusted net income was $39 million or $0.22 per diluted share against $31 million or $0.18 per diluted share a year ago. Income before income taxes was $24.801 million against $39.321 a year ago. Adjusted Income before income taxes was $57.186 million against $43.499 a year ago. For the full year 2014, the company expects an adjusted total operating income percentage growth rate in the mid-thirties driven by continued strong organic volume growth, coupled with progress on capacity and cost reduction initiatives, and the inclusion of Earthbound Farm results. The company is forecasting annual interest expense to increase to approximately $33 to $37 million, based upon the current forward outlook on rates, as a result of increased outstanding indebtedness due to the recent Earthbound Farm acquisition. The company estimates an annual tax rate of approximately 35% for 2014, with the potential for variability in quarterly rates. Based upon its strong growth expectations, the company expects to deliver adjusted diluted earnings per share of between $0.90 and $0.94 for full year 2014, excluding investments in its previously announced joint venture in China, which management anticipates being approximately $0.05 on a fully diluted earnings per share basis. For the first quarter of 2014, the company expects a more modest adjusted total operating income percentage growth rate in the high teens to low twenties driven by higher corporate costs in the first quarter as compared to the prior year, a smaller profit contribution from Earthbound Farm due to normal seasonally higher transportation costs in the first quarter, and the impact from the Easter selling season occurring in the second quarter of 2014, as compared to the first quarter of 2013. For the first quarter, the company expects adjusted diluted earnings per share to range $0.18 to $0.20, excluding an approximately $0.01 estimated investment per diluted earnings per share in the China joint venture. The timing of regulatory approvals could impact the amount of estimated investment related to the China joint venture on a quarterly basis, as well as for the full year.

The WhiteWave Foods Company, Q4 2013 Earnings Call, Feb 13, 2014

The WhiteWave Foods Company, Q4 2013 Earnings Call, Feb 13, 2014

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February 20, 2014
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