Last $91.42 USD
Change Today -0.52 / -0.57%
Volume 765.5K
HSY On Other Exchanges
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

hershey co/the (HSY) Key Developments

The Hershey Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

The Hershey Company reported unaudited consolidated earnings results for the second quarter and six months ended June 29, 2014. For the quarter, the company reported income before interest and income taxes of $277,464,000, income before income taxes of $256,730,000, net income of $168,168,000 or $0.75 diluted per share on net sales of $1,578,350,000 against income before interest and income taxes of $268,917,000, income before income taxes of $247,823,000, net income of $159,504,000 or $0.70 diluted per share on net sales of $1,508,514,000 for the same period a year ago. Adjusted non-GAAP net income/net margin was $169,978,000 or $0.76 diluted per share against $163,607,000 or $0.72 diluted per share for the same period a year ago. Adjusted non-GAAP EBIT/EBIT margin was $280,057,000 against $275,539,000 for the same period a year ago. For the six months, the company reported income before interest and income taxes of $681,070,000, income before income taxes of $639,051,000, net income of $420,663,000 or $1.86 diluted per share on net sales of $3,450,163,000 against income before interest and income taxes of $660,734,000, income before income taxes of $616,007,000, net income of $401,410,000 or $1.77 diluted per share on net sales of $3,335,940,000 for the same period a year ago. Adjusted non-GAAP net income/net margin was $429,953,000 or $1.90 diluted per share against $412,075,000 or $1.81 diluted per share for the same period a year ago. Adjusted non-GAAP EBIT/EBIT margin was $697,155,000 against $677,934,000 for the same period a year ago. The company expects full-year 2014 net sales growth to be around the low end of its long-term 5% to 7% target, including the impact of the aforementioned price increase and foreign currency exchange rates. Adjusted earnings per share-diluted expected to increase around the low end of long-term target of 9% to 11% to a projected range of $4.05 to $4.13. In 2014, the company expects reported earnings per share-diluted of $3.98 to $4.08, including net GAAP charges of approximately $18 million to $23 million, or $0.05 to $0.07 per share-diluted. For the full year, The company expects interest expense to be around $85 million. For the full year, the company continue to expect the adjusted tax rate to be around 34.5%.

Hershey Announces Second-Quarter Dividend, Payable on September 15, 2014

The Board of Directors of The Hershey Company declared a quarterly dividend of $0.535 on the common stock, an increase of $0.05 per share, and a dividend of $0.486 on the Class B Common Stock, an increase of $0.051 per share. The dividends are payable September 15, 2014, to stockholders of record as of August 25, 2014.

The Hershey Company Provides Earnings Guidance for the Second Quarter Ended June 29, 2014 and Full Year of 2014

The Hershey Company provided earnings guidance for the second quarter ended June 29, 2014 and full year of 2014. For the quarter, the company expects net sales and adjusted earnings per share-diluted to be relatively in line with its forecast. Specifically, second-quarter net sales are expected to increase around 4.5%, including an approximate 0.75 point headwind related to foreign currency exchange rates, resulting in adjusted earnings per share-diluted in the $0.75 to $0.77 range. Preliminary reported earnings per share-diluted for the second quarter is estimated to be in the $0.74 to $0.76 range. For 2014, the company expects reported diluted EPS in the range of $3.98 to $4.08 and adjusted diluted EPS in the range of $4.05 to $4.13.

The Hershey Company to Report Q2, 2014 Results on Jul 24, 2014

The Hershey Company announced that they will report Q2, 2014 results at 11:00 AM, GMT Standard Time on Jul 24, 2014

The Hershey Company, Q2 2014 Earnings Call, Jul 24, 2014

The Hershey Company, Q2 2014 Earnings Call, Jul 24, 2014

 

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HSY

Industry Average

Valuation HSY Industry Range
Price/Earnings 24.7x
Price/Sales 2.8x
Price/Book 13.1x
Price/Cash Flow 17.6x
TEV/Sales 1.7x
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