Hershey misses 4Q earnings and revenue expectations

MarketsAssociated Press

Hershey Co. (HSY) on Thursday reported fourth-quarter net income of $202.5 million.

The Hershey, Pennsylvania-based company said it had net income of 91 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.04 per share.

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The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The chocolate bar and candy maker posted revenue of $2.01 billion in the period, also missing Street forecasts. Analysts expected $2.08 billion, according to Zacks.

For the year, the company reported profit of $846.9 million, or $3.77 per share. Revenue was reported as $7.42 billion.

Hershey expects full-year earnings in the range of $4.30 to $4.38 per share.

Hershey shares have risen nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped roughly 3 percent. The stock has climbed 9 percent in the last 12 months.


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


Keywords: Hershey, Earnings Report