Hershey Co. Q2 Profit Increases, beats estimates

(RTTNews) - Hershey Co. (HSY) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $315.56 million, or $1.53 per share. This compares with $301.23 million, or $1.45 per share, in last year's second quarter.

Excluding items, Hershey Co. reported adjusted earnings of $372.42 million or $1.80 per share for the period.

Analysts on average had expected the company to earn $1.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.1% to $2.37 billion from $1.99 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q2): $315.56 Mln. vs. $301.23 Mln. last year. -EPS (Q2): $1.53 vs. $1.45 last year. -Analyst Estimate: $1.68 -Revenue (Q2): $2.37 Bln vs. $1.99 Bln last year.

-Guidance: Full year EPS guidance: $8.05 - $8.20