Hershey’s Stock Surged to Record as Q1 Adjusted EPS, Revenues Beat Forecasts

Hershey Co. (HSY) reported a Q1 adjusted EPS of $1.59, up from $1.41 in the year-earlier period and ahead of Street expectations for $1.46 compiled by Capital IQ.

Revenue in the period rose to $2.02 billion from $1.97 billion in the year-earlier period, beating forecasts for $2 billion.

The company reaffirmed its 2019 guidance, expecting adjusted EPS of $5.63-$5.74 as sales are seen expanding 1%-3%. Forecasts are for normalized EPS of $5.65.

The board of directors announced a quarterly dividend of $0.722 on the common stock and $0.656 on the class B common stock.

The shares advanced 3.9% on last look, heading for an all-time high.

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