Hershey tops Street 3Q forecasts

MarketsAssociated Press

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

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.

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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 $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.


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