WhiteWave Foods Co. raised its forecast for the year on Monday after the company logged better-than-expected third-quarter results that were powered by recent acquisitions.

Shares rose 3.9% in early trading, pulling the stock's year-to-date gain up to 23%.

WhiteWave, which sells Silk-branded soy and almond milks as well as Horizon organic dairy products, spun off from Dean Foods Co. in 2013. Its sales and profit have soared as Americans increasingly spring for food and beverage options that they perceive to be healthier than standard choices.

The company, which also sells Earthbound Farm packaged salad, has moved to grow its nondairy business and recently completed its $550 million acquisition of Vega, a maker of plant-based shakes and snack bars, and its $125 million purchase of Wallaby Yogurt Co.

Dean, meanwhile, has struggled, though that company swung to a profit in its latest quarter and issued upbeat guidance for the fourth quarter and full year as a sharp drop in the cost of milk and cost costs aid its business.

For its third quarter, WhiteWave reported a profit of $50 million, or 28 cents a share, up from $40.9 million, or 23 cents, a year earlier. Excluding costs associated with a joint venture in China, earnings per share rose to 33 cents from 27 cents. Revenue increased 17% to $1 billion. Analysts projected 31 cents in adjusted per-share profit on $974.9 million in revenue, according to Thomson Reuters.

In the company's domestic foods and beverages business, its biggest, revenue jumped 23% to $722.5 million thanks in part to the Vega and Wallaby deals. Growth in the segment continues to be driven largely by volume, aided by some pricing benefits primarily within the premium dairy unit, the company said.

WhiteWave said the recently acquired businesses will continue to help drive results and raised its forecast for the year, now expecting adjusted earnings per share of $1.22 to $1.23, higher than the $1.16 analysts have projected. For the current quarter, the company guided for earnings of 35 cents to 36 cents a share, compared with the 35 cents analysts estimate.

Write to Lisa Beilfuss at lisa.beilfuss@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 09, 2015 12:05 ET (17:05 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
Dean Foods (NYSE:DF)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Dean Foods Charts.
Dean Foods (NYSE:DF)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Dean Foods Charts.