: Hershey Co. adjusted profit beats Wall Street estimates

Hershey Co. HSY said Thursday its second-quarter profit increased to $406.98 million, or $1.98 a share, from $315.56 million, or $1.53 a share, in the year-ago quarter. Adjusted profit in the latest quarter totaled $2.01 a share, ahead of the Wall Street analyst forecast of $1.91 a share, according to estimates compiled by FactSet. Revenue at the chocolate maker rose 5% to $2.49 billion, about flat with the analyst estimate of $2.498 billion. Looking ahead, Hershey expects 2023 adjusted earnings of $9.46 a share to $9.54 a a share, compared to the analyst estimate of $9.51 a share. Hershey stock was down 1% in premarket trades. “Our categories continue to perform well as consumer demand for great tasting snacks remains resilient across the globe,” said CEO Michele Buck.

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