Hershey Q1 Profit Rises, Reaffirms FY14 View - Quick Facts

(RTTNews) - Chocolate maker Hershey Co. (HSY) Thursday said its first-quarter net income increased to $252.5 million or $1.11 per share from $241.91 million or $1.06 per share in the previous year.

Adjusted earnings for the recent quarter totaled $1.15 per share.

On average, 15 analysts polled by Thomson Reuters expected the company to earn $1.14 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 2.4% to $1.87 billion from $1.83 billion a year ago, which included a 0.8 point negative impact from foreign currency exchange rates. Analysts estimated revenues of $1.91 billion for the quarter.

The company also reaffirmed its adjusted earnings per share and net sales outlook for 2014. Hershey still expects earnings per share to be in the range of $3.99 to $4.08. Adjusted earnings are expected to be in the range of $4.05 to $4.13 per share.

Full-year net sales are still anticipated to increase 5-7%, driven primarily by volume.

Street analysts expect the company to report earnings of $4.13 per share, on revenues of $7.66 billion for the year.