HERSHEY, Pa. — Hershey Co. today reported fourth-quarter earnings of $291.4 million.
On a per-share basis, the company said it had net income of $1.39. Earnings, adjusted for non-recurring costs, came to $1.49 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The chocolate bar and candy maker posted revenue of $2.19 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.12 billion.
For the year, the company reported profit of $1.28 billion, or $6.11 per share. Revenue was reported as $8.15 billion.
Hershey shares have dropped nearly 4% since the beginning of the year, while the Standard & Poor’s 500 index has increased 2%. The stock has declined 5% in the past 12 months.