Hershey 2Q profit rises 18 percent as more candy sold
Hershey's second-quarter net income increased 18 percent as the company sold more candy and costs for its ingredients dropped.
The maker of Kit Kats, Twizzlers and Hershey's Kisses raised its outlook for the year and increased its dividend Thursday.
For the period that ended June 30, Hershey Company earned $159.5 million, or 70 cents per share. That compares with $135.7 million, or 59 cents per share, in the same months a year earlier.
Excluding costs related to pensions, acquisitions and other items, earnings rose six cents to 72 cents per share, beating Wall Street's prediction by a penny. Lifting profit were lower ingredients costs, sales volume gains and higher sales of more profitable candy.
Revenue for the company climbed seven percent to $1.51 billion from $1.41 billion during the quarter. The performance met Wall Street's forecast.
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