The Hillshire Brands Company (NYSE: HSH) today reported earnings for its first quarter of fiscal year 2013.
First Quarter Highlights (continuing operations)
- Adjusted 1 diluted EPS increased by $0.19 to $0.51; reported diluted EPS increased $0.31 to $0.41
- Adjusted net sales increased by 2% to $1.01 billion; reported net sales declined 1.4%
- Adjusted operating income increased 76.3% to $105 million; reported operating income increased $60 million to $87 million
- Strong performance in the Retail segment, with sales growth of 3% and adjusted operating segment income growth of 45.5%
“I am very pleased with our first quarter performance,” said Sean Connolly, chief executive officer, The Hillshire Brands Company. “Our volumes are moving in the right direction, our key brands are gaining strength, our costs are coming down and our team is markedly stronger. Overall, we are off to an encouraging start against our three-year plan to build a consistently growing and more profitable branded food company.”He added, “While we are pleased with this progress, we recognize that we are only one quarter into our year. We want to wait for greater visibility into the cost picture and see our momentum continue to develop further before making any changes to our outlook. Accordingly, our full year guidance, given on August 9, remains unchanged at this time.”
|Key Financial Data, Continuing Operations|
|$ in millions, except per share|
|Adjusted Net Sales||$||1,011||$||991||2.0||%|
|Reported Net Sales||1,011||1,025||(1.4||)%|
|Adj. Operating Income||105||60||76.3||%|
|Rep. Operating Income||87||27||NM|
|Adj. Diluted EPS||0.51||0.32||59.4||%|
|Rep. Diluted EPS||0.41||0.10||NM|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV