Hershey reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Hershey announced earnings per share of $1.63 on revenue of $2.04B. Analysts polled by anticipated EPS of $1.7 on revenue of $2.07B. That with comparison to EPS of $1.59 on revenue of $2.02B in the same period a year before. Hershey had reported EPS of $1.28 on revenue of $2.07B in the previous quarter. Analysts are expecting EPS of $1.3 and revenue of $1.8B in the upcoming quarter.
Hershey shares are down 2% from the beginning of the year , still down 11.66% from its 52 week high of $162.20 set on September 5, 2019. They are outperforming the S&P 500 which is down 13.73% year to date.
Hershey follows other major Consumer/Non-Cyclical sector earnings this month
Hershey's report follows an earnings beat by Procter&Gamble on April 17, who reported EPS of $1.17 on revenue of $17.21B, compared to forecasts EPS of $1.13 on revenue of $17.31B.
Coca-Cola had beat expectations on Tuesday with first quarter EPS of $0.51 on revenue of $8.6B, compared to forecast for EPS of $0.44 on revenue of $8.37B.
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