October 24, 2019 / 11:14 AM / 21 days ago

Hershey sales beats estimates, raises FY revenue forecast

Oct 24 (Reuters) - Hershey Co reported third-quarter sales above Wall Street estimates on Thursday and raised its full-year revenue forecast, boosted by price increases and investments in snacking brands.

The company now expects sales to rise about 2.5% in fiscal 2019 from its previous growth forecast of about 2%, helped by its $397 million acquisition of One Brands, a maker of healthy snacks. Net income attributable to the company rose to $325.3 million, or $1.54 per share, in the third quarter ended Sept. 29 from $263.7 million, or $1.25 per share, a year earlier.

Sales rose 2.6% to $2.13 billion, narrowly beating the average analyst estimate of $2.12 billion, according to IBES data from Refinitiv. (Reporting by Praveen Paramasivam in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below