HERSHEY, Pennsylvania — Hershey Co. (HSY) on Friday reported a second-quarter loss of $99.9 million, after reporting a profit in the same period a year earlier.
The Hershey, Pennsylvania-based company said it had a loss of 47 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The chocolate bar and candy maker posted revenue of $1.58 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.62 billion.
Hershey expects full-year earnings in the range of $4.10 to $4.18 per share.
Hershey shares have fallen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. The stock has increased nearly 3 percent in the last 12 months.
Keywords: Hershey, Earnings Report