Recent acquisitions drove double-digit revenue growth for WhiteWave Foods in the first quarter, the Denver-based natural and organic company announced Tuesday.
The operator of such brands as Silk and Horizon Organic reported adjusted earnings of $48 million, or 27 cents per share, on revenue of $1.04 billion, up 15 percent from $911 million in revenue in the same quarter of 2015. For the year-ago period, earnings hit $39 million, or 22 cents per share.
Excluding acquisitions — such as the nutrition bar brand and , a producer of yogurts — WhiteWave’s sales would have increased 8 percent.
“Our robust organic constant currency sales growth in the first quarter was driven by strong growth across our legacy platforms in traditional retail outlets, along with increasing contributions from away-from-home channels and our growing international presence, Gregg Engles, WhiteWave’s chairman and chief executive, said in a statement. “Our Vega and Wallaby acquisitions also continued their robust growth trends, positively impacting our results as well. Our strong start to the year has led us to increase our guidance for full year 2016.”
The first-quarter results continue a stretch of sales growth for WhiteWave, which recorded its during the last three months of 2015.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
