This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sara Lee's CEO Discusses Q3 2012 Results - Earnings Call Transcript

The D.E Master Blenders Investor Day, happening on March 13 and 14. Also there I think that's been completed, the strategy given and the guidance given. The SEC review, we filed the F1 on the 1st of March. I can say that all the SEC reviews and the process is going completely according to our plans, and we feel very comfortable. The debt rates for the Master Blenders, also that one is going according to plan. And we'll hope to announce something in the next couple of weeks in terms of the results of the debt rates.

So what are the critical days from now until -- as I -- as you've seen in the press release, June 30, which will be the day of the spin, so that as of July 1, both of the companies will be up and running. An important thing still to be done is the announcement of the boards. That will happen in the next couple of weeks. We will announce who will be in the boards of the Sara Lee current board members, as well as we will announce some new board members who will join both of the companies.

Investor meetings are going on. The Master Blenders on the road in May and June, and MeatCo as you have hopefully gotten the invitation will have its Investor Day by June 5. And then the following road shows are happening in June.

The special dividend will occur immediately after the spinoff. And the spin there, as I said before, we are saying the end of June, but be very specific, June 30 is the day we're all aiming for, so that over the weekend, July 1, we're up and running. So that's all about the spinoff. We feel very comfortable. I think we're really making sure that things are happening the way we want them to happen. And let me then take you through the Chief -- to Mark, who will take you through the financials. Mark?

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs