Hershey Co. Q1 Profit Increases, beats estimates

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

The company's earnings came in at $797.45 million, or $3.89 per share. This compares with $587.19 million, or $2.85 per share, in last year's first quarter.

Excluding items, Hershey Co. reported adjusted earnings of $628.29 million or $3.07 per share for the period.

Analysts on average had expected the company to earn $2.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $3.25 billion from $2.99 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q1): $797.45 Mln. vs. $587.19 Mln. last year. -EPS (Q1): $3.89 vs. $2.85 last year. -Revenue (Q1): $3.25 Bln vs. $2.99 Bln last year.

-Guidance: Full year EPS guidance: $9.59