Hershey Boosts FY22 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Hershey Co. (HSY) raised its adjusted earnings and net sales growth guidance for the full-year 2022, reflecting the strength of its performance in the first quarter and expectations for the balance of the year.

For fiscal 2022, the company now projects adjusted earnings in the range of $7.91 to $8.05 per share, an increase of 10 to 12 percent, on net sales growth of 10 to 12 percent.

Previously, the company expected adjusted earnings in the range of $7.84 to $7.98 per share, an increase of 9% to 11%, on net sales growth of 8 to 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.95 per share on net sales growth of 9.0 percent to $9.78 billion for the year. Analysts' estimates typically exclude special items.