Hershey Announces First-Quarter Results; Updates Outlook for 2016
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Hershey Foods (HSY) Tops Q1 EPS by 3c, Sales Miss; Guides FY EPS Below the Street
April 26, 2016 7:05 AM EDTHershey Foods (NYSE: HSY) reported Q1 EPS of $1.10, $0.03 better than the analyst estimate of $1.07. Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.9 billion.
GUIDANCE:
Hershey Foods sees FY2016 EPS of $4.24-$4.28, versus the consensus of $4.34. Constant currency net sales growth expected to be around 2.5%, including a net benefit from acquisitions, primarily barkTHINS, of about 0.5 points; unfavorable foreign currency exchange rates estimated to be a 1.0 point headwind.
Our first-quarter efforts were focused on ensuring successful sell-in and sell through... More
