Hershey 4Q results mixed, demand softens in China

Written by The Associated Press | Jan 29, 2016 7:31 AM

Photo by Jeremy Long, Lebanon Daily News

The Hershey Company officially opened up its 19 East office building in downtown Hershey on Thursday. The site was Milton Hershey's original chocolate factory.

(Hershey) --  The Hershey Company's fourth-quarter profit beat analysts' estimates, but its revenue fell short of Wall Street expectations due to soft demand in China.

The chocolate bar and candy maker earned $213.4 million, or 98 cents per share, for the period ended Dec. 31.

A year earlier the Hershey-based company earned $202.5 million, or 91 cents per share.

Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.08 per share.

The results exceeded Wall Street expectations.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

Revenue dropped to $1.91 billion from $2.01 billion as sales fell in China.

Four analysts surveyed by Zacks expected higher revenue of $1.97 billion.

Published in News

Tagged under , , , , , ,

back to top