logo
  

Hershey Boosts FY22 Outlook - Update

While reporting financial results for the first quarter on Thursday, Hershey Co. (HSY) raised its adjusted earnings and net sales growth guidance for the full-year 2022, reflecting the strength of its performance in the first quarter and expectations for the balance of the year.

For fiscal 2022, the company now projects adjusted earnings in the range of $7.91 to $8.05 per share, an increase of 10 to 12 percent, on net sales growth of 10 to 12 percent.

Previously, the company expected adjusted earnings in the range of $7.84 to $7.98 per share, an increase of 9% to 11%, on net sales growth of 8 to 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.95 per share on net sales growth of 9.0 percent to $9.78 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
RELATED NEWS
Follow RTT