Skip to main content
Tags: US | Earns | Sara | Lee

Sara Lee Swings to Loss But Raises Outlook

Thursday, 06 May 2010 08:29 AM EDT

Sara Lee says it lost money during its fiscal third quarter, pulled down by a tax charge and other items.

But the food company raised its 2010 adjusted earnings guidance, which is now expected to top Wall Street's expectations.

Sara Lee lost $336 million, or 49 cents per share, compared with net income of $165 million, or 24 cents per share, a year ago.

Removing a tax charge and other items totaling 79 cents per share, profit was 29 cents per share. That tops the 21 cents-per-share analyst estimate.

Revenue for the period ended March 27 was flat at $2.58 billion, below Wall Street's $2.71 billion estimate.

Sara Lee Corp. saw strength in its North American retail and international drinks businesses.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Companies
Sara Lee says it lost money during its fiscal third quarter, pulled down by a tax charge and other items.But the food company raised its 2010 adjusted earnings guidance, which is now expected to top Wall Street's expectations.Sara Lee lost $336 million, or 49 cents per...
US,Earns,Sara,Lee
121
2010-29-06
Thursday, 06 May 2010 08:29 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved