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Hershey’s Q2 Profit Falls 34% on Charges, but Adjusted Net Beats View (HSY)

Candy maker The Hershey Company ( HSY

) on Thursday said its second quarter profit fell 34% from last year due to one-time charges, but adjusted results beat analyst expectations.

The Hershey, PA-based company reported second quarter net income of $46.7 million, or 20 cents per share, compared with $71.3 million, or 31 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 51 cents per share, which beat analysts' view of 46 cents per share

Net sales rose 5.3% from last year, to $1.23 billion, spurred by price increases and favorable currency translation effects.

Hershey shares were mostly flat in premarket trading Thursday.

The Bottom Line

Shares of HSY have a dividend yield of 2.57%, based on last night's closing stock price of 49.82. The stock has technical support in the $44-$46 price area. If the shares can firm up, we see overhead resistance around the $52-$55 price levels. We would remain on the sidelines for now.

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.

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

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