Hershey''s profit grows 20.2% in 3Q, for $ $273.3 million

New York, 26/10-chocolate maker Hershey earned net income of $ $273.3 million, or $ $1.28 per share, in the third quarter of this year, said the company on Thursday, 26. The result represents an increase of 20.2% compared to the $ $227.4 million, or $ $1.06 per share, recorded in the same period last year.
In terms adjusted profit stood at US $ $1.33 per share, above the estimate of FactSet, of $ $1.29 per share. Revenue increased 1.5 percent on the same comparison, to $ $2.03 billion, and also surpassed the expectations of analysts, of $ $2.01 billion.
According to the CEO of Hershey, Michele Buck, who took office in March this year, the snacks segment continues with an above-average market performance in an environment that is changing rapidly. Michele highlighted the challenges the company is facing with the shift in consumer preference, you are opting for healthier products, and by offering new and innovative products for the competition.
Hershey also said that your Board of Directors has approved a share repurchase program of $ $100 million. The company said that adjusted earnings per share for the entire year should be close to the ceiling of your guidance, ranging from $ $4.72 to $ $4.81.