Hershey Beats On Earnings, Provides Downbeat Outlook

Hershey Co. beat first-quarter EPS expectations but missed revenue projections, providing a downbeat 2016 earnings outlook. Earnings came in at $239 million, or $1.06 a share, compared with $243 million, or $1.10 a share in the same period a year ago. The company had adjusted EPS of $1.10 ahead of the FactSet consensus of $1.07. Revenue declined to $1.83 billion from $1.94 billion, compared with the FactSet consensus of $1.90 billion. For 2016, the company expects adjusted EPS of $4.24 to $4.28, below the FactSet consensus of $4.34. The stock gained 7.4% over the last three months, compared with a 9.7% rise in the S&P 500 .