HERSHEY, Pa. — Hershey Co. (HSY) on Thursday reported third-quarter net income of $273.3 million.
The Hershey, Pennsylvania-based company said it had profit of $1.28 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.33 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The chocolate bar and candy maker posted revenue of $2.03 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2 billion.
Hershey expects full-year earnings in the range of $4.72 to $4.81 per share.
Hershey shares have risen 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 14 percent. The stock has increased 13 percent in the last 12 months.