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Hillshire results beat estimates as sandwich sales rise
May 6, 2014 / 12:31 PM / 3 years ago

Hillshire results beat estimates as sandwich sales rise

May 6 (Reuters) - Hillshire Brands Co reported better-than-expected quarterly results, helped by strong sales of Jimmy Dean products including breakfast sandwiches.

Shares of the packaged meat company, formerly the food business of Sara Lee Corp, rose 4 percent in premarket trading.

The company’s sales rose 3.4 percent to $955 million as it raised prices to offset higher meat costs.

Net income from continuing operations was $42 million, or 35 cents per share, in the third quarter ended March 29, little changed from a year earlier.

Excluding items, the company earned 46 cents per share.

Analysts on average had expected earnings of 36 cents per share on sales of $939 million, according to Thomson Reuters I/B/E/S. (Reporting by Siddharth Cavale in Bangalore and Lisa Baertlein in Los Angeles; Editing by Don Sebastian)

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