Chocolate company Hershey (NYSE:HSY) will be reporting results tomorrow morning. Here's what to expect.
Last quarter Hershey reported revenues of $3.03 billion, up 11.1% year on year, beating analyst revenue expectations by 2.7%. It was a very strong quarter for the company, with a decent beat of analysts' revenue estimates.
Is Hershey buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Hershey's revenue to grow 2.7% year on year to $2.72 billion, slowing down from the 14% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.96 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing three upward and five downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.5%.
Looking at Hershey's peers in the packaged food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Simply Good Foods delivered top-line growth of 2.6% year on year, missing analyst estimates by 0.2% and Mondelez (NASDAQ:MDLZ) reported revenues up 8.7% year on year, exceeding estimates by 0.2%. Simply Good Foods traded up 1.4% on the results, and Mondelez was down 3.1%.
Read the full analysis of Simply Good Foods's and Mondelez's results on StockStory.
Investors in the packaged food segment have had steady hands going into the earnings, with the stocks down on average 0.2% over the last month. Hershey is up 0.9% during the same time, and is heading into the earnings with analyst price target of $208.8, compared to share price of $194.7.
The author has no position in any of the stocks mentioned.