Hershey Co. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Hershey Co. (HSY) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $224.20 million, or $1.10 per share. This compares with $797.45 million, or $3.89 per share, last year.

Excluding items, Hershey Co. reported adjusted earnings of $425.41 million or $2.09 per share for the period.

Analysts on average had expected the company to earn $1.93 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 13.7% to $2.805 billion from $3.252 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings: $224.20 Mln. vs. $797.45 Mln. last year. -EPS: $1.10 vs. $3.89 last year. -Revenue: $2.805 Bln vs. $3.252 Bln last year.

-Guidance: Full year EPS guidance: $6.00 - $6.18