Hershey Co HSY delivered better than expected earnings for the third quarter while sales came in line with estimates. The company boosted its EPS forecast for the full year.
- Reports 10 percent increase in adjusted EPS to $1.29, beats by $0.10.
- Generates revenue of $2.0 billion, in line with the estimates.
- Adjusted EPS boosted to $4.28-$4.32 versus $4.26 expectations.
- Full year net sales expected to grow around one percent.
Hershey's Chairman, President and CEO, John Bilbrey, commented, "Against a backdrop of continued snacks competition, we experienced improvements in key aspects of our business. Our brands responded positively to the marketplace investments we discussed last quarter, which is why we continue to believe that candy, mint and gum (CMG) is an attractive category capable of solid growth over the long term when supported with the right mix of customer and consumer marketing."
At last check, the stock added 1.97 percent to $97.39 in the pre-market session.
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