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.
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