Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Diamond Foods Sparkles Amid Upbeat Earnings Report

Diamonds may be a girl's best friend, but Diamond Foods (NASDAQ: DMND  ) was an investor's best friend today after the company reported upbeat earnings for its second quarter of fiscal 2014. Investors pushed shares of Diamond Foods higher in after hours trading on Tuesday after the company topped Wall Street's expectations for its second quarter.

Source: Diamond Foods.

The snacks company beat analysts' profit estimates by a penny, as it reported diluted earnings per share of $0.09 in the quarter, ahead of expectations for $0.08 per share. Diamond Foods reported second-quarter revenue of $220.6 million in the period, which were flat on a year-over-year basis but beat analysts' forecasts for revenue of $216.75 million in the quarter.

Snack sales rose 10.8% to $116.80 million in Q2. However, that gain was partially offset by a 10.1% decrease in nut sales to $103.8 million in the quarter. The company's nut segment was hurt by higher commodity costs for tree nuts. "While we expect to face further headwinds in the Nuts segment in the second half of fiscal 2014, our team remains focused on the execution of our multi-year turnaround strategy, and we are confident that we are taking the right steps to position our business for long-term sustainable growth," said Brian Driscoll, Diamond Foods' chief executive.

Diamond Foods' stock was up more than 5% on the news in after hours trading on Tuesday, with shares priced around $31.48 as of 5 p.m. ET. The stock has gained nearly 18% year to date.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2873103, ~/Articles/ArticleHandler.aspx, 8/28/2015 11:13:56 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Tamara Rutter

I've been an analytical writer for The Motley Fool since 2011. I cover the sectors of Consumer Goods, Technology, and Industrials. Connect with me on Twitter using the handle, @TamaraRutter -- I'd love to hear from you!

Today's Market

updated 1 hour ago Sponsored by:
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 1.21 0.06%
NASD 4,828.33 15.62 0.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/28/2015 4:00 PM
DMND $29.77 Up +0.78 +2.69%
Diamond Foods, Inc… CAPS Rating: **