Hershey Company Updates 2019 Net Sales, Earnings Outlook

(RTTNews) - The Hershey Company (HSY) announced its full-year adjusted earnings per share are now expected to increase 6% to 7%, the upper half of the previous 5% to 7% range. Adjusted EPS is now projected in a range of $5.68 - $5.74. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.74. Analysts' estimates typically exclude special items. Full-year reported net sales are expected to increase around 2%, the mid-point of the previous 1-3% range.

For the second-quarter, adjusted earnings per share was $1.31, an increase of 14.9% from a year ago. On average, 14 analysts expected the company to report profit per share of $1.18 for the quarter.

Second-quarter consolidated net sales were $1.77 billion, an increase of 0.9% from prior year. Organic constant currency net sales increased 1.8%. Analysts expected revenue of $1.77 billion, for the quarter.