Although the revenue and EPS for Hershey (HSY) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Shares of Hershey wavered Thursday as investors digested the chocolatier's quarterly earnings report, as soaring cocoa prices cut significantly into the food company's profits.
Hershey (HSY) came out with quarterly earnings of $1.27 per share, missing the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $2.01 per share a year ago.
Hershey Co. HSY shares are down 7.1% premarket after the chocolate and salty snacks company reported a second-quarter top and bottom line miss and lowered its 2024 guidance. Hershey reported net income of $180.9 million, or 89 cents a share, down from $407 million, or $1.98 a share, in the same period last year.
Hershey's (HSY) Q2 results are likely to reflect gains from brand strength, but high commodity costs, increased selling, marketing and administrative expenses and currency volatility are concerns.
Beyond analysts' top -and-bottom-line estimates for Hershey (HSY), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
Hershey (HSY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In the latest trading session, Hershey (HSY) closed at $192.10, marking a +1.14% move from the previous day.
Investing ledged Warren Buffett (Trades, Portfolio) has said, “It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
In the closing of the recent trading day, Hershey (HSY) stood at $191.29, denoting a +0.07% change from the preceding trading day.
In the most recent trading session, Hershey (HSY) closed at $189.97, indicating a +0.56% shift from the previous trading day.
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