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

Hillshire Brands Management Discusses Q4 2012 Results - Earnings Call Transcript

You already know that today's discussion will be focused on results for adjusted operating segment income from continuing ops. I'd like to highlight some other changes that we've made in our reporting to provide our investors with information that is most reflective of how we manage our business. As we highlighted at Investor Day, the Aidells and Gallo businesses are now being reported in the Retail segment, while hog and commodity pork and turkey sales are being reported in the Foodservice segment. Our segment names have also been slightly tweaked. Results from acquisition are now included in our results from the time of acquisition. In previous reporting, we had backed out the impact of those sales as a reconciling item between reported and adjusted results. You'll still see the impact of acquisitions, in this case, Aidells, in our earnings release. We are also discussing total adjusted sales and organic sales performance, which is without acquisition results and excludes changes in foreign currency movement. And finally, results for businesses that have been disposed of or exited, such as our Senseo business, are now backed out of all reported period.

To help you understand the year-over-year changes earlier this morning, we filed a current report on Form 8-K that contains our quarterly segment results for fiscal 2012 and fiscal 2011, consistent with the basis of presentation reported in the press release.

We will take your questions after management's prepared remarks conclude. And I'll now turn the call over to our CEO, Sean Connolly. Sean?

Sean M. Connolly

Thanks, Melissa. Good morning, everyone. Maria and I are excited to be speaking with you today and share the results of our fourth quarter and fiscal 2012 performance. But before I jump into the quarterly results, let me just step back a minute and frame up the big picture for you. 2 months ago, we shared with you our plans to unleash the potential of our company and drive strong and sustainable shareholder returns. These plans included our vision to become the most innovative meat-centric food company in the U.S. This growth-oriented vision was born of a clear-eyed recognition that our greatest assets are our brands and that attempting to simply cut our way through to prosperity wouldn't drive a different outcome than we delivered before. We also outlined the steps that we're taking to realize this vision, steps like upgrading our capabilities and team, fixing some underperforming businesses, increasing our commitment to advertising and rebuilding the innovation pipeline. And to fund these investments, we've committed to delivering $100 million in cost savings over the next 3 years.

Read the rest of this transcript for free on

3 of 3

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 $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%
YHOO $27.10 1.04%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs