Hillshire Brands raises 2013 outlook

Hillshire Brands Co raised its full-year outlook on Thursday after stronger-than-expected first-half performance that benefited from easing commodity costs.

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 share.

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.

1. Ag markets moved generally higher Wednesday
2. Infrastructure limits ag export growth, economist says
3. Beetles, housefly larvae open new frontier in animal feed sector
4. Oil pressured by Bernanke comments, crude stocks up
5. Repainting “American Gothic:” Number of women farming triples
6. Commentary: Severely ticked off

1. Commentary: Ag must resist HSUS 'divide and conquer' strategy
2. Outbreak of PEDV spreads to 13 U.S. states
3. Finding the comedy in ag-gag
4. Smithfield Foods bid reflects China’s quality issues
5. Will Smith dethroned in latest Peterson Farm Bros. parody
6. National Pork Board elects new officers; Richter to lead

1. COOL isn’t working
2. NIAA releases white paper on FMD preparedness
3. American students immerse themselves in Scotland
4. Finding the comedy in ag-gag
5. Commentary: Ag must resist HSUS 'divide and conquer' strategy
6. Will Smith dethroned in latest Peterson Farm Bros. parody