Hershey’s Q3 Proves to be a Sweet Delight; Raises Outlook
04 November 2022 - 12:31PM
TipRanks
The Hershey Company's (NYSE: HSY) Q3 results exceeded its
expectations as revenues surged 15.6% year-over-year to $2.73
billion, surpassing Street estimates by $110 million. Adjusted net
earnings came in at $2.17 per share, up 3.3% year-over-year and
beating analysts' estimates of $2.10 per share. Michele Buck, The
Hershey Company President, and CEO commented, "Third quarter
results came in ahead of our expectations, as our increased brand
investments and improved supply chain helped support resilient
consumer demand and drove category growth across all business
segments. Marketplace share and gross margin trends improved versus
the second quarter, and we have strong momentum exiting the
year.
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