Hershey Delivers a Sweet Third Quarter

Before you go, we thought you'd like these...
Before you go close icon

Hershey reported strong quarterly results this morning. The candy company posted better-than-expected third-quarter earnings of $1.03 per share on net income of $232.9 million, which was up close to 35% from $176 million, or $0.77 per share, a year ago. Analysts were expecting EPS of $1.01 in the latest quarter.

Net sales increased 6.1% to $1.85 billion, driven by new product launches and growth across its core candy brands. Even so, this missed analysts' estimates for sales of $1.88 billion in the period. Going forward, Hershey says its full-year outlook remains on track. The candy maker expects earnings per share of $3.60 to $3.65 for the year.

Additionally, Hershey's Lancaster brand of caramel candies will go on sale in the U.S. in January, making it the company's first U.S. candy launch of a new brand that is not a brand extension or acquisition in 30 years. Hershey debuted the candy line in China in May  as part of a plan to tap into the region's $1.2  billion candy market. Shares of Hershey are up more than 36% year-to-date.


The article Hershey Delivers a Sweet Third Quarter originally appeared on Fool.com.

Fool contributor Tamara Rutter has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading