Hillshire Brands Q1 Profit Decreases - Quick Facts

(RTTNews) - The Hillshire Brands Company (HSH) reported that its first-quarter net income decreased to $29 million or $0.23 per share, from $49 million or $0.40 per share, last year. Adjusted earnings per share was $0.35, for the quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $984 million, from $974 million, prior year. Analysts expected revenue of $959.73 million for the quarter.

The company said its fiscal 2014 guidance remains unchanged at this time. For the full year, sales are expected to increase slightly as back-half innovation helps offset expected softness associated with consumers adapting to higher price points. Adjusted earnings per share is expected to be flat to down mid-single digits as inflationary input costs are partially offset by pricing and cost savings programs, the company said.