November 6, 2020
(Reuters) – Hershey Co <HSY.N> on Friday beat quarterly sales estimates and reinstated its full-year outlook boosted by strong Halloween sales and demand for chocolate chips and cocoa powder from people taking up baking while stuck at home due to virus-driven lockdowns.
Net sales rose 4% to $2.22 billion in the third quarter ended Sept. 27, beating analysts expectations of $2.16 billion, according to IBES data from Refinitiv data.
The company also reinstated its full-year outlook that it had pulled in April saying it expects full-year net sales to rise about 1% and adjusted earnings per share to rise between 7% to 8%.
(Reporting by Siddharth Cavale in Bengaluru; Editing by Shailesh Kuber)
