Benzinga | Nov 6, 2020 07:44AM EST

Hershey: Q3 Earnings Insights



Shares of Hershey (NYSE:HSY) moved higher by 2.1% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 15.53% year over year to $1.86, which beat the estimate of $1.72.

Revenue of $2,220,000,000 higher by 4.03% year over year, which beat the estimate of $2,160,000,000.

Outlook

Hershey hasn't issued any earnings guidance for the time being.

Hershey hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Nov 06, 2020

Time: 08:30 AM

ET Webcast URL: https://viavid.webcasts.com/starthere.jsp?ei=1281780&tp_key=2ead5ab059

Price Action

52-week high: $161.83

52-week low: $109.88

Price action over last quarter: Up 1.43%

Company Description

Hershey is a leading confectionery manufacturer in the U.S. (nearly a $25 billion market), controlling around 45% of the domestic chocolate space (per IRI). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of more than 80 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 85 countries, with just 10% of total sales coming from markets outside the U.S., including Brazil, China, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix and Pirate Brands (including the Pirate's Booty, Smart Puffs, and Original Tings brands) over the past few years.