Hershey Co. Q2 Profit Increases, beats estimates

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

The company's bottom line totaled $406.98 million, or $1.98 per share. This compares with $315.56 million, or $1.53 per share, in last year's second quarter.

Excluding items, Hershey Co. reported adjusted earnings of $412.53 million or $2.01 per share for the period.

Analysts on average had expected the company to earn $1.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $2.49 billion from $2.37 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q2): $406.98 Mln. vs. $315.56 Mln. last year. -EPS (Q2): $1.98 vs. $1.53 last year. -Analyst Estimate: $1.91 -Revenue (Q2): $2.49 Bln vs. $2.37 Bln last year.

-Guidance: Full year EPS guidance: $9.46 - $9.54