Hershey Co. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Hershey Co. (HSY) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $180.894 million, or $0.89 per share. This compares with $406.983 million, or $1.98 per share, in last year's second quarter.

Excluding items, Hershey Co. reported adjusted earnings of $258.130 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.7% to $2.074 billion from $2.490 billion last year.

Hershey Co. earnings at a glance (GAAP) :

-Earnings (Q2): $180.894 Mln. vs. $406.983 Mln. last year. -EPS (Q2): $0.89 vs. $1.98 last year. -Revenue (Q2): $2.074 Bln vs. $2.490 Bln last year.

-Guidance: Full year EPS guidance: $9.49 - $9.59