Hershey Raises FY23 Adj. EPS Outlook to $9.46 - $9.54 (From $9.46 Prior) Vs. $9.51 Estimate
Portfolio Pulse from Benzinga Newsdesk
Hershey has updated its FY23 financial outlook, maintaining its net sales growth forecast, reducing its reported earnings-per-share, and increasing its adjusted earnings-per-share outlook. The company expects a tax rate of 16%, other expenses of $180-190 million, interest expense of $155 million, and capital expenditures of $800-850 million.
July 27, 2023 | 10:50 am
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NEUTRAL IMPACT
Hershey's updated FY23 outlook includes a raised adjusted EPS, which could be seen as a positive signal by investors. However, the reduction in reported EPS and significant expected expenses may offset this optimism.
The raised adjusted EPS indicates that Hershey expects to perform better than previously anticipated, which could drive the stock price up. However, the reduction in reported EPS and the expected expenses could be seen as negative signals, potentially driving the stock price down. The net effect is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100