Earnings Report: Hershey Co. Disappoints with Major Q2 Net Income Decline YoY (HSY)

Описание: Hershey Co. (NYSE:HSY) posted Q2 earnings before the opening bell Thursday morning, reporting a notable decline in net income from $71 million, or $0.31 per share in the year-ago period, to $47 million, or $0.20 per share this quarter.

Net revenue, however, rose 5.2% to $1.2 billion; Street estimates expected earnings of $0.46 per share on revenue of $1.2 billion.

The company adjusted its 2010 net income target to range between $2.47 per share and $2.52 per share.

SmarTrend currently has Hershey in an uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.

Shares of the confectionary maker closed Wednesday's trading day at $49.82.