Dairy-product makers Dean Foods and its spinoff WhiteWave Foods reported strong third-quarter results Monday, and both guided full-year earnings forecasts above estimates — a reflection of lower milk costs as well as the rise of more health-conscious shoppers and nontraditional diets.
WhiteWave (NYSE:WWAV) expects to see "the highest level" of operating income gains during the year in the fourth quarter, aided by "continued cost leverage, higher productivity levels, improved commodity and other cost overlaps, as well as increased levels of contributions from completed acquisitions."
The maker of almond- and soy-based milk products sees adjusted Q4 earnings per share of 34-35 cents, excluding its Chinese joint venture, vs. consensus views for 35 cents.
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