Hershey Trims FY24 Outlook; Declares Dividend - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Hershey Co. (HSY) reduced its adjusted earnings and net sales growth guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in the range of $9.00 to $9.10 per share on net sales flat with last year.

Previously, the company expected adjusted earnings in the range of $9.49 to $9.59 per share on net sales growth of about 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.40 per share on net sales growth of 1.3 percent to $11.31 billion for the year. Analysts' estimates typically exclude special items.

Separately, the company's Board of Directors also declared a quarterly dividend of $1.370 on the Common Stock and $1.245 on the Class B Common Stock, payable on December 16, 2024, to stockholders of record as of November 18, 2024.

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