Hershey beats Street 2Q forecasts

MarketsAssociated Press

Hershey Co. (HSY) on Wednesday reported second-quarter net income of $203.5 million.

The Hershey, Pennsylvania-based company said it had profit of 95 cents per share. Earnings, adjusted for non-recurring costs, came to $1.09 per share.

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The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The chocolate bar and candy maker posted revenue of $1.66 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.65 billion.

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

Hershey shares have climbed nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. The stock has dropped 3 percent in the last 12 months.

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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

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Keywords: Hershey, Earnings Report