I found 18 Big Food Corps with Pretax Earnings (PTI) or Pretax Losses above $100 mil each in the most recent quarter.
These 18 Big Food Corps had very strong Pretax Earnings growth of 21% in the 2Q 2011. The only weak area was related to Chicken Prices, due to the oversupply situation.
PepsiCo and Kraft dominate these 18 Big Food Corps. These two Giant Food Corps brought down the overall 21% increase for all 18 Big Food Corps. In fact, the 16 Big Food Corps other than PepsiCo and Kraft had an exceptional earnings increase of 33% in the 2Q.
PepsiCo's 2Q 2011 increase in its after-tax net income was 18%, 50% above its Pretax Income growth of 12%.
Some of these companies are headquartered in the 3 States that the Obama Administration is visiting on its present bus tour. The employees of all of these Big Food Companies have to be very pleased with how the Obama Administration has helped their companies prosper.
.....................................................2Q.........2Q............
...................................................2011......2010.....Increase...
....................................................PTI........PTI.....Amount....%
...................................................(in millions of dollars).........
Big 2 Food
PepsiCo..........................NY.......2,575....2,300......275......12%
Kraft Foods.....................IL........1,365.....1,262......103........8%
Total Big 2 Food.........................3,940.....3,562......378......11%
Rest of Big Food
Archer Daniels Midland...IL..........764........550......214......39%
Kellogg...........................MI..........489........429........60......14%
General Mills..................MN.........447........346......101......29%
ConAgra Foods...............NE..........381........175......206.....118%
HJ Heinz..........................PA.........321........280........41......15%
Campbell Soup.................NJ.........283........265........18........7%
Tyson..............................AR.........263........395.....(132)....-33%
Smithfield Foods(1).........VA.........216........(28)......244.....871%
Bunge, Ltd(2)..................NY.........214........(71)......285.....401%
Hershey(3)......................PA.........205........147........58......39%
Mead Johnson Nutrition..IN.........192.........161........31.......19%
Hormel Foods.................MN........168.........132........36......27%
JM Smucker....................OH.........150.........167......(17)....-10%
Corn Products Intl..........IL...........116..........70........46......66%
Seaboard(4)....................KS............96.........102........(6)......-6%
Pilgrims Pride.................CO.........(124).........31......(155)...-500%
Total Rest of Big Food..................4,181.....3,151....1,030......33%
Total all 18...................................8,121....6,713....1,408......21%
(1)Smithfield Foods 2011 PTI excludes Loss on Debt Extinguishment.
(2)Bunge, Ltd 2011 PTI excludes Foreign Currency Gains. Its 2010 PTI excludes Foreign Currency Losses and Gain of Sale of Assets.
(3)Hershey 2010 excludes Goodwill Impairment.
(4)Seaboard 2011 PTI excludes Gain on Sale of Facilities.
