by Christopher Freeburn | May 6, 2014 11:28 am
On Tuesday, Hillshire Brands (HSH) topped Wall Street estimates for fiscal third-quarter profits and revenue. Investors liked the results, sending HSH stock up almost 4%.
HSH shares gained after Hillshire posted net income from continuing operations of $42 million during the quarter. Adjusted EPS came in 46 cents, well above the 36 cents analysts had forecast, Reuters notes.
Quarterly sales hit $955 million, up 3.4% from the prior-year period, and beating the $939 million that analysts had estimated.
Hillshire’s revenue was boosted by rising sales of Jimmy Dean-branded products. Increased product prices helped to deflect lower sales volumes for other products. HSH has raised prices to offset higher pork and beef prices.
HSH stock closed at $35.30 on Monday.
More Stocks on the Move:
Source URL: http://investorplace.com/2014/05/hsh-hillshire-stock-moves-higher-earnings/
Short URL: http://invstplc.com/1nlrTNZ
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.