Hillshire Reports Decline in 2nd Qtr. Profits; Beats Estimate (HSH)
Food company, Hillshire Brands Co(HSH) reported a drop in Q2 profits, but beat analysts estimates on Thursday.
The Chicago, IL based company reported second quarter earnings of $65 million, or 53 cents per share, compared to $469 million, or $3.94 per share last year. Excluding special items, EPS was 62 cents per share, beating analysts estimate of 47 cents.
Revenue came in at $1.06 billion, missing analysts estimate of $1.08 billion.
Looking ahead, the company expects to see FY2013 earnings in the range of $1.60 to $1.70 per share, up from the company’s previous outlook of $1.40 to $1.55 per share.
Hillshire shares were mostly flat during premarket trading Thursday. The stock has increased 55% in the past year.
The Bottom Line
Shares of Hillshire Brands Co(HSH) have a 1.65% yield, based on Wednesdays closing price of $30.26.
Hillshire Brands Co(HSH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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