Hillshire Brands Delivers Strong Fourth Quarter Growth

Aug. 15, 2014
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020

CHICAGO--(BUSINESS WIRE)--The Hillshire Brands Company (NYSE: HSH) today reported results for the fourth quarter and full fiscal year 2014.

  • Fourth quarter net sales grew 10.7% to $1.1 billion
  • Fourth quarter adjusted1 operating income grew 18.8%; reported operating income grew 20.9%
  • Full-year net sales grew 4.2% to $4.1 billion with growth in both operating segments
  • Fiscal Year 2014 adjusted diluted EPS of $1.80; reported diluted EPS of $1.71

In the fourth quarter, net sales of $1.1 billion grew 10.7% versus the prior year’s fourth quarter as positive price/mix in both the Retail and Foodservice/Other segments more than offset volume declines resulting largely from pricing actions. The sales growth rate also benefitted from a soft quarter in the prior year and the later timing of the Easter holiday this year. Adjusted operating income of $75 million increased 18.8%, and reported operating income increased 20.9% to $59 million primarily behind higher sales and a continued focus on expense management.

On a full year basis, net sales of $4.1 billion grew 4.2% versus the prior year period as positive price/mix more than offset volume declines. Adjusted operating income of $387 million increased 6.5% and reported operating income increased 3.0% to $306 million as positive mix and cost efficiencies more than offset under-recovery of input cost inflation through pricing. Full report.

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Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
Hillshire Brands Logo Detail 10824020
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Hillshire Brands Co.

May 6, 2014
Hillshire Brands is a manufacturer and marketer of packaged meat and frozen bakery products for the retail and foodservice markets.