Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Hershey Q1 Profit Climbs; Updates 2012 Forecast - Quick Facts

RELATED NEWS
Trade HSY now with 

Hershey Co. (HSY: Quote) posted first-quarter profit of $198.65 million, or $0.87 per share, higher than last year's $160.12 million or $0.70 per share.

Adjusted earnings per share rose to $0.96 from $0.73 in the prior-year quarter. On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share. Analysts' estimates typically exclude special items.

Net sales grew to $1.73 billion from $1.56 billion a year ago. Analysts estimated revenues of $1.66 billion.

"Hershey's strong start to the year is the result of our continued strategy of disciplined investment in core brands in both the U.S. and key international markets," said John Bilbrey, President and Chief Executive Officer. "In the first quarter, net sales increased 10.7 percent. Net price realization was a 10.9 point benefit while volume, slightly greater than our expectations due to a solid Easter, was off 0.5 point compared with the prior year. The Brookside acquisition was a 0.7 point benefit and the foreign currency exchange rate was a 0.4 point headwind..."

In 2012, the company now expects reported earnings per share-diluted of $2.82 to $2.92. Adjusted earnings per share-diluted are now anticipated to increase 10-12%. Full year net sales are currently expected to increase 7-9%, including Brookside acquisition.

Earlier, the company anticipated earnings per share of $2.79 - $2.89 and adjusted earnings per share of $3.08 - $3.14.

Net sales were expected to increase 5 percent - 7 percent. Analysts expect the company to earn $3.14 per share, on revenues of $6.51 billion.

Register
To receive FREE breaking news email alerts for Hershey Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.