Hershey Misses Earnings

This morning, Hershey (HSY) reported Q1 earnings of $1.63 per share. That was eight cents below estimates. Sales rose 1% to $2.04 billion. Constant currency sales were up 0.5%.

CEO Michele Buck said, “We had a solid start to the year with our business performing as expected prior to the impact of COVID-19.” Then came the coronavirus and business started to suffer.

In January, the chocolatier said it expected full-year earnings between $6.13 and $6.24 per share. Today Hershey withdrew that guidance although the company said it stands by its long-run goal of growing EPS by 6% to 8%.

HSY looks to open lower this morning.

Posted by on April 23rd, 2020 at 8:22 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.