Jan 31 Hillshire Brands Co raised its
full-year outlook on Thursday after stronger-than-expected
first-half performance that benefited from easing commodity
The maker of Hillshire Farm lunch meat and Jimmy Dean
sausage said it expects commodity costs to get more
"challenging" as 2013 progresses. Still, the newly independent
meat company forecast earnings of $1.60 to $1.70 per share in
fiscal 2013. Its prior outlook called for $1.40 to $1.55 per
In the fiscal second quarter ended Dec. 29, net income was
$65 million, or 53 cents per share, versus $469 million, or
$3.94 per share, a year earlier, when the company was much
larger and was called Sara Lee.
On a continuing operations basis, and excluding special
items, Hillshire earned 62 cents per share, handily topping
analysts' average estimate of 47 cents per share, according to
Thomson Reuters I/B/E/S.