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July 29, 2021, 7:21 a.m. EDT

Hershey reports earnings beat, raises sales guidance

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By Tonya Garcia

Hershey Co. /zigman2/quotes/202765576/composite HSY +1.65% reported second-quarter net income of $301.2 million, or $1.45 per share, up from $268.9 million, or $1.29 per share, last year. Adjusted EPS of $1.47 beat the FactSet consensus for $1.43. Sales of $1.99 billion were up from $1.71 billion last year and also ahead of the FactSet consensus for $1.84 billion. For the full year, Hershey expects net sales growth in the range of 6% to 8% up from previous guidance of growth in the range of 4% to 6%. EPS is expected to be in the range of $6.59 to $6.85, slightly down from the previous guidance for growth in the range of range of 9% to 12%. Adjusted EPS guidance remains unchanged, in the $6.79 to $6.92 range. The FactSet consensus is for sales of $8.63 billion, implying growth of 5.9%, and EPS of $6.89. Hershey stock rose 0.9% in Thursday premarket trading, and has gained nearly 16% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.84% is up 17.2% for the period.

/zigman2/quotes/202765576/composite
US : U.S.: NYSE
$ 179.61
+2.92 +1.65%
Volume: 944,499
Dec. 3, 2021 4:00p
P/E Ratio
26.09
Dividend Yield
2.01%
Market Cap
$36.41 billion
Rev. per Employee
$482,803
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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