The Hillshire Brands Company (NYSE: HSH) today reported earnings for the second quarter and first half of fiscal year 2013.
Second Quarter Highlights (continuing operations)
- Adjusted 1 diluted EPS increased $0.14 to $0.62; reported diluted EPS increased $0.38 to $0.47
- Adjusted and reported net sales increased by 2.5% and 0.7%, respectively, to $1.06 billion
- Adjusted operating income increased $26 million to $127 million; reported operating income increased $76 million to $99 million
- Full year 2013 guidance raised – new adjusted diluted EPS range of $1.60-$1.70
“Our business is continuing to perform well and I am very pleased with the progress we’re making,” said Sean Connolly, president and chief executive officer, The Hillshire Brands Company. “Our investment in MAP is strengthening our core brands, our innovation pipeline is becoming more robust, and we remain highly focused on managing costs. We also clearly benefited from favorable input costs, an area that we expect to become more challenging in calendar year 2013. Based on our strong first half results, and taking into account our outlook for the rest of the year, we are raising full year EPS guidance.”
|Key Financial Data, Continuing Operations|
|$ in millions, except per share|
|Second Quarter||First Half|
|2013||2012||% Change||2013||2012||% Change|
|Adjusted Net Sales||$||1,060||$||1,035||2.5%||$||2,034||$||1,988||2.3%|
|Reported Net Sales||1,060||1,053||0.7%||2,034||2,040||(0.3)%|
|Adj. Operating Income||127||101||25.8%||228||158||44.2%|
|Rep. Operating Income||99||23||NM||183||47||NM|
|Adj. Diluted EPS||0.62||0.48||29.2%||1.10||0.74||48.6%|
|Rep. Diluted EPS||0.47||0.09||NM||0.87||0.13||NM|
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