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The Hershey Company's 2Q profit climbs 5.4 percent

Written by The Associated Press | Jul 25, 2014 6:28 AM
Hershey Chocolate 2.jpg

Photo by The Hershey Company

(Hershey) -- The Hershey Company (HSY) reports net income that rose by 5.4 percent in its second quarter. The results matched analysts' expectations.

The Hershey, Dauphin County-based company says net income increased to $168.2 million, or 75 cents per share, from $159.5 million, or 70 cents per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs, were 76 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The chocolate bar and candy maker says revenue rose 4.6 percent to $1.58 billion from $1.51 billion in the same quarter a year earlier. The results matched Wall Street forecasts.

Hershey shares have declined $3.23, or 3.3 percent, to $94 since the beginning of the year, while the Standard & Poor's 500 index has risen 7.5 percent.

However, the stock has increased $1.13, or 1.2 percent, in the last 12 months.

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