Hershey Foods (HSY) Tops Q3 EPS by 11c, Offers FY Guidance

Hershey Foods (NYSE: HSY) reported Q3 EPS of $2.10, $0.11 better than the analyst estimate of $1.99. Revenue for the quarter came in at $2.36 billion versus the consensus estimate of $2.3 billion.

2021 Full-Year Financial Outlook

The company is updating its 2021 net sales and earnings outlook:

• Full-year net sales growth is now expected to be in the range of 8% to 9%, an increase from the previously communicated range of 6% to 8%.
• The net impact of acquisitions and divestitures is anticipated to be a 0.7-point benefit.
• Full-year reported earnings per share are now expected to be in the range of $6.88 to $7.04, an increase of 13% to 15% from $6.11 in fiscal 2020, and an increase from the previously communicated range of 8% to 12%.
• Full-year adjusted earnings per share are now expected to be in the range of $6.98 to $7.11, an increase of 11% to 13% from $6.29 in fiscal 2020, and an increase from the previously communicated range of 8% to 10%.

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

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