DMND: Diamond Foods Rises on Earnings Beat

Gross margins climbed during the quarter


Diamond Foods Logo DMND: Diamond Foods Rises on Earnings BeatOn Tuesday, Diamond Foods (DMND) reported quarterly earnings and sales that topped Wall Street expectations, sending DMND stock up more than 8% in Wednesday morning trading.

DMND stock climbed after the snack food-maker posted a fiscal second-quarter loss of $15.1 million. That compared to a profit of $10.1 million in the year-ago period. Adjusted EPS came in at 9 cents per DMND share, up from 5 cents in the prior-year period, and surpassing the earnings of 8 cents a share analysts were looking for, the Wall Street Journal notes.

BigLots185 DMND: Diamond Foods Rises on Earnings Beat
BIG: Big Lots Stock Soars 23% on Earnings Beat

During the quarter, DMND said it generated revenue of $220.6 million, up just 0.1% from the year-ago period. But that was still higher than the revenue of $217 million that analysts had estimated.

DMND said that its gross margin increased from 22.9% to 25.4%. DMND CEO Brian Driscoll indicated that the company was facing higher tree-nut costs and that the nut business could see increasing hurdles later this year.

On Tuesday, DMND stock closed at $29.95 per share. Over the past year, DMND stock has gained more than 80%.

Article printed from InvestorPlace Media,

©2015 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.