Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.
HERSHEY, Pa. (AP) — Hershey Co. on Thursday reported first-quarter earnings of $271.1 million.
Continue Reading Below
On a per-share basis, the Hershey, Pennsylvania-based company said it had profit of $1.29. Earnings, adjusted for non-recurring costs and asset impairment costs, were $1.63 per share.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The chocolate bar and candy maker posted revenue of $2.04 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.08 billion.
CLICK HERE TO READ MORE ON FOX BUSINESS
Hershey shares have dropped 2% since the beginning of the year, while the Standard & Poor’s 500 index has declined 13%. The stock has climbed 23% in the last 12 months.
