Hershey Foods Corp. (HSY) Tops Q1 EPS by 16c; Raises FY Outlook

Hershey Foods Corp. (NYSE: HSY) reported Q1 EPS of $0.96, $0.16 better than the analyst estimate of $0.80. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.66 billion.

“While still early in the year, there is no material change to our full year inflation outlook. We continue to expect that input costs in 2012 will be higher than last year. With the first quarter behind us, we have further visibility into our full-year cost structure. Given our strong start to the year and the planned productivity, cost savings and net price realization gains, we now expect adjusted gross margin to increase 90 to 100 basis points. This is greater than our previous estimate of an increase of about 75 basis points. While a portion of our adjusted gross margin gain will be offset by the aforementioned SM&A expenses, we expect full-year adjusted earnings per share-diluted growth of 10 to 12 percent. This is greater than our previous estimate of a 9 to 11 percent increase.”

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

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