Dive Brief:
- Diamond Foods reported positive Q2 2015 and year-to-date 2015 fiscal earnings, which included boosts in net sales for both, driven in part by growth in its snacks and nuts segments.
- The company bounced back from a GAAP net loss of $15.1 million, or $0.68 per share in the second quarter last year by reporting a GAAP net income of $11.2 million, or $0.35 per share this year's second quarter.
- Adjusted EBITDA for the quarter jumped from $28.6 million in last year's second quarter to $33.8 million in this year's second fiscal quarter.
Dive Insight:
Diamond Foods is pleased with its performance so far in fiscal year 2015, but its confidence may waver slightly in the current quarter. CEO and president Brian J. Driscoll said in a statement, "While the third quarter is seasonally our lowest for sales and earnings, and we face challenges including an intensely competitive promotional environment and the effects of a strong dollar, we believe that we are on track to achieve our updated annual adjusted EBITDA and EPS outlook."
That being said, according to TheStreet, "For the year, the company expects earnings to be in the 95 cents to $1.10 per share range."