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Hershey: Q2 Earnings Insights

Benzinga Insights
·1 min read

Shares of Hershey (NYSE:HSY) rose 0.3% after the company reported Q2 results.

Quarterly Results

Earnings per share were flat 0.00% year over year to $1.31, which beat the estimate of $1.15.

Revenue of $1,707,000,000 decreased by 3.40% from the same period last year, which missed the estimate of $1,740,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 23, 2020

View more earnings on HSY

Time: 08:30 AM

ET Webcast URL: http://public.viavid.com/index.php?id=137203

Technicals

Company's 52-week high was at $162.20

52-week low: $109.88

Price action over last quarter: Up 2.00%

Company Overview

Hershey is a leading confectionery manufacturer in the U.S. (nearly a $25 billion market), controlling around 45% of the domestic chocolate space (per IRI). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of more than 80 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 85 countries, with just 10% of total sales coming from markets outside the U.S., including Brazil, China, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix and Pirate Brands (including the Pirate's Booty, Smart Puffs, and Original Tings brands) over the past few years.

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