Hershey Earnings Come In Not So Sweet—Worst Profit In 7 Years As Cocoa Prices Soared

  • 📰 Forbes
  • ⏱ Reading Time:
  • 13 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 53%

Hershey News

Hsy,Hershey Stock,Herhsey Earnings

Derek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.

Shares of Hershey wavered Thursday as investors digested the chocolatier’s quarterly earnings report, as soaring cocoa prices cut significantly into the food company’s profits.Hershey stock fell 3.5% shortly at market open, which would have been its worst day of the year, before bouncing back to a milder 1% loss.

Hershey’s $1.27 earnings per share came well short of consensus analyst estimates of $1.44, with profits falling 37% year-over-year, and its $2.1 billion of Q2 revenues came shy of forecasts of $2.3 billion, marking a 17% year-over-year decrease.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple Q3 Earnings Preview: a Closer Look at Earnings Forecasts and China Market StrategyDiscover what to expect from Apple’s Q3 earnings report on 2 August, with a focus on financial forecasts, share repurchases, and the tech giant's strategy as it navigates challenges in China.
Source: DailyFX - 🏆 305. / 63 Read more »

Earnings playbook: Your guide to a busy week of earnings, including Alphabet and TeslaWall Street will get its first glimpse of Big Tech earnings this week.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: Hershey, Meta Platforms, Arm Holdings, Shake Shack and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »

Microsoft Earnings: Stock Tanks As AI Business Growth Worse Than ExpectedDerek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.
Source: Forbes - 🏆 394. / 53 Read more »