Hershey Posts Better-than-Expected Q2 Profit, but Revenue Just Misses (HSY)

By Dividend.com Staff,

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Candy maker The Hershey Company ( HSY ) on Thursday posted a 4% rise in second quarter earnings, as revenue gained from last year - just not quite as much as analysts expected.

The Hershey, PA-based company reported second quarter net income of $135.7 million, or 59 cents per share, compared with $130 million, or 56 cents per share, in the year-ago period. Excluding special items, adjusted profit was 66 cents per share.

Revenue rose 6% from last year to $1.41 billion.

On average, Wall Street analysts expected a smaller profit of 61 cents per share, albeit on slightly higher revenue of $1.42 billion.

Looking ahead, HSY forecast full-year earnings to range from $2.88 to $2.98 per share, including one-time charges. Wall Street analysts expect $3.21 per share for the year, but their estimates exclude special items.

Hershey shares were unchanged in premarket trading Thursday.

The Bottom Line
Shares of Hershey Co. ( HSY ) have a 2.16% dividend yield, based on last night's closing stock price of $70.33. The stock has technical support in the $66-$68 price area. The shares are trading near all-time highs.

The Hershey Company ( HSY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: HSY

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