Hershey Co. Q3 Profit Decreases, Misses Estimates

The Hershey

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Kaufen / Verkaufen

(RTTNews) - Hershey Co. (HSY) released earnings for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $446.30 million, or $2.20 per share. This compares with $518.58 million, or $2.52 per share, in last year's third quarter.

Excluding items, Hershey Co. reported adjusted earnings of $474.24 million or $2.34 per share for the period.

Analysts on average had expected the company to earn $2.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to $2.987 billion from $3.029 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q3): $446.30 Mln. vs. $518.58 Mln. last year. -EPS (Q3): $2.20 vs. $2.52 last year. -Revenue (Q3): $2.987 Bln vs. $3.029 Bln last year.

-Guidance: Full year EPS guidance: $9.00 - $9.10