Hershey Co. Q1 Profit Increases, beats estimates

(RTTNews) - Hershey Co. (HSY) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $587.19 million, or $2.85 per share. This compares with $533.48 million, or $2.57 per share, in last year's first quarter.

Excluding items, Hershey Co. reported adjusted earnings of $609.47 million or $2.96 per share for the period.

Analysts on average had expected the company to earn $2.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $2.99 billion from $2.67 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q1): $587.19 Mln. vs. $533.48 Mln. last year. -EPS (Q1): $2.85 vs. $2.57 last year. -Analyst Estimate: $2.66 -Revenue (Q1): $2.99 Bln vs. $2.67 Bln last year.

-Guidance: Full year EPS guidance: $9.29 - $9.46