Hershey Posts $2B Quarter

Hershey shares have climbed 40 percent since the beginning of the year.

Hershey Ap 57c58a4bd12f1

(AP)  Hershey Co. (HSY) has reported third-quarter profit of $325.3 million. The Hershey, Pennsylvania-based company said it had profit of $1.54 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.61 per share. 

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.61 per share. The chocolate bar and candy maker posted revenue of $2.13 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $2.12 billion. 

Hershey expects full-year earnings in the range of $5.68 to $5.74 per share. Hershey shares have climbed 40 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 20 percent. The stock has risen 39 percent in the last 12 months. 


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. 


More in Home