Hershey Earnings Fall 35% But Beat Estimates (HSY)

The Hershey Company HSY released financial results on Thursday morning that beat Wall Street earnings estimates. The Hershey Company (HSY) reported that its 2nd quarter earnings fell 35% to $46.7 million, or 20 cents per share, down from $71.3 million, or 31 cents per share, a year earlier. Excluding special items, the company reported earnings of 51 per share. The chocolate candy maker's revenue rose 5% to $1.23 billion. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 46 cents per share, on revenue of $1.24 billion. The Hershey Company forecast full year adjusted earnings in the range of $2.47 to $2.52 per share, on revenue growth of 7%. The consensus price target of analysts covering the Hershey Company's stock is $48.77 per share. Read more from Benzinga's Company news.