Hershey Q1 Profit Decreases - Quick Facts

(RTTNews) - The Hershey Company (HSY) reported first-quarter net income of $244.7 million or $1.10 per share, compared to $252.5 million or $1.11 per share, prior year. Adjusted earnings per share was $1.09, for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.16 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $1.94 billion from $1.87 billion last year. Analysts expected revenue of $1.96 billion for the quarter.

The company estimated full-year 2015 net sales to increase 4.5% to 5.5%, including a net benefit from acquisitions and divestitures of about 2.5 points and unfavorable foreign currency exchange. For the full year, the company expects that price realization, the increase in gross margin expansion from 135 to 145 basis points to 155 to 165 basis points and Shanghai Golden Monkey accretion in the second half of the year, will contribute to an increase in adjusted earnings per share of 8% to 10%, including dilution from acquisitions and divestitures of $0.03 to $0.05 per share.