Brazil Food Processor BRF Widens Net Loss in Q3 on Grain Prices, Chicken Glut

BRF SA, the Brazilian pork and poultry processor, widened its third-quarter loss from the year-ago period as it continued to deal with a chicken oversupply while also trying to rein in grain prices, it said on Monday.

BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss.

Despite the hit, BRF said improvements in the company's...

US Foods Reports Third Quarter Fiscal Year 2023 Earnings

US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the third quarter fiscal year 2023.

Third Quarter Fiscal 2023 Highlights

• Net sales increased 2.1% to $9.1 billion
• Total case volume increased 4.0%; independent restaurant case volume increased 5.8%
• Gross profit increased 5.6% to $1.5 billion
• Net income available to common shareholders was $95 million
• Adjusted EBITDA increased 14.5% to $402 million
• Diluted EPS decreased 11.6% to $0.38; Adjusted Diluted EPS increased 16.7% to $0.70...

Publix Reports Third Quarter 2023 Results and Stock Price

Publix’s sales for the three months ended Sept. 30, 2023 were $14 billion, a 7.2% increase from $13 billion in 2022. Comparable store sales for the three months ended Sept. 30, 2023 increased 4.3%.

Net earnings for the three months ended Sept. 30, 2023 were $833 million, compared to $394 million in 2022, an increase of 111.4%. Earnings per share for the three months ended Sept. 30, 2023 increased to $0.25 per share, up from $0.12 per share in 2022. Excluding the impact of... 

Sprouts Farmers Market, Inc. Reports Third Quarter 2023 Results

Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week third quarter ended October 1, 2023. "We are pleased to report another solid quarter at Sprouts, with continued increases in both traffic and comparable store sales," said Jack Sinclair, chief executive officer of Sprouts Farmers Market. "Our results signal the alignment of our 31,000 team members across merchandising, marketing, supply chain, and operational initiatives-- propelling our strategy forward."

Third Quarter Highlights:

• Net sales totaled $1.7 billion; a 7.6% increase from the same period in 2022...

Armanino Foods Reports Record Breaking Sales and the Highest Quarterly and Year to Date Profits Ever

Armanino Foods of Distinction, Inc. Reports Record Breaking Sales and the Highest Quarterly and Year to Date Profits Ever for the Third Quarter and Nine Months Ended September 30, 2023

Net sales for the third quarter of 2023 were $16,080,356 compared to $15,400,353 for the same period last year, an increase of 4%. Income before taxes for Q3 2023 was $3,050,211 compared to $2,055,215 for the same quarter in 2022, an increase of 48%...

Hormel Foods Reports Third Quarter Fiscal 2023 Results

Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the third quarter of fiscal 2023. All comparisons are to the third quarter of fiscal 2022 unless otherwise noted.

EXECUTIVE SUMMARY — THIRD QUARTER

• Net sales of $3.0 billion
• Operating income of $217 million, reflecting the impact of an adverse arbitration ruling totaling $70 million; adjusted operating income of $287 million
• Operating margin of 7.3%; adjusted operating margin1 of 9.7%
• Earnings before income taxes of $208 million; adjusted earnings before income...

Triumph Foods, Midwest Farmers Challenge Constitutionality of Massachusetts Question 3

Triumph Foods filed a lawsuit in Massachusetts federal district court challenging the constitutionality of the state law known as Question 3 (Q3) and, in turn, similar laws like it, including California’s Proposition 12 (Prop 12). Christensen Farms Midwest, LLC, The Hanor Company of Wisconsin, LLC, New Fashion Pork, LLP, and Eichelberger Farms, Inc., also joined the suit as plaintiffs, along with the Allied Producers’ Cooperative, a group of smaller Midwest farmers.

The lawsuit also seeks preliminary injunctive relief to stay the...

Freddy's Frozen Custard & Steakburgers Closes First Half of the Year with 31 New Locations 

Fast-casual restaurant concept Freddy's Frozen Custard & Steakburgers® announced today its strong start to Q3, signing a franchise development agreement led by new franchisee, Ellis Choi, to debut eight new restaurants in LA County, California, a key target market in the U.S. for the brand. This announcement comes on the heels of a remarkable two quarters of growth, ending the first half of the year with more than 480 locations across 36 states. Freddy's has set its sights on reaching 500 units later this year...

Performance Food Group Company Reports Third-Quarter and First-Nine Months Fiscal 2023 Results

Performance Food Group Company today announced its third-quarter and first-nine months fiscal 2023 business results.

“PFG’s three reportable segments continued to deliver solid results in the fiscal third quarter with accelerated organic case volume and favorable cost control producing strong profit growth,” said George Holm, PFG’s Chairman & Chief Executive Officer. “Organic independent restaurant case growth in our Foodservice segment increased by 8.3% in the quarter, reflecting market share gains. Vistar experienced excellent top and bottom-line results across its channels while our...