Hershey tops Street 3Q forecasts

Markets Associated Press

Hershey Co. (HSY) on Thursday reported third-quarter net income of $273.3 million.

Continue Reading Below

The Hershey, Pennsylvania-based company said it had profit of $1.28 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.33 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The chocolate bar and candy maker posted revenue of $2.03 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2 billion.

Hershey expects full-year earnings in the range of $4.72 to $4.81 per share.

Hershey shares have risen 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 14 percent. The stock has increased 13 percent in the last 12 months.

Continue Reading Below

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on HSY at https://www.zacks.com/ap/HSY