Hershey Foods (HSY) Tops Q2 EPS by 4c, Offers Outlook

Hershey Foods (NYSE: HSY) reported Q2 EPS of $1.14, $0.04 better than the analyst estimate of $1.10. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.74 billion.

GUIDANCE:

Hershey Foods sees FY2018 EPS of $5.33-$5.43, versus the consensus of $5.33.

• Full-year reported net sales are expected to increase towards the low end of the updated 3.5% to 5.5% range. This includes an updated net impact from acquisitions and divestitures of approximately 3.5 points versus the previous estimate of 5.0 points, reflecting recent international business divestitures.
• The outlook for organic net sales is reaffirmed towards the low end of the slightly up to 2% range.
• The impact of foreign currency exchange rates is expected to be negligible.
• Full-year reported earnings per share-diluted are now expected to be in the $4.76 to $4.96 range.
• The outlook for adjusted earnings per share-diluted of $5.33 to $5.43, an increase of 14 to 16%, is reaffirmed.
• Quarterly dividend declared on Common Stock and increased 10%.

For earnings history and earnings-related data on Hershey Foods (HSY) click here.

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