Hershey Q2 2024 Adj EPS $1.27 Misses $1.43 Estimate, Sales $2.07B Miss $2.31B Estimate
Portfolio Pulse from Benzinga Newsdesk
Hershey (NYSE:HSY) reported Q2 2024 earnings per share of $1.27, missing the analyst consensus estimate of $1.43 by 11.19%. The company also reported quarterly sales of $2.07 billion, missing the estimate of $2.31 billion by 10.27%. This represents a 16.87% decrease from the same period last year.
August 01, 2024 | 10:46 am
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NEGATIVE IMPACT
Hershey's Q2 2024 earnings and sales both missed analyst estimates significantly. EPS was $1.27 compared to the expected $1.43, and sales were $2.07 billion versus the expected $2.31 billion. This also marks a 16.87% decrease in sales from the same period last year.
Hershey's significant miss on both earnings and sales estimates, along with a notable year-over-year decline in sales, is likely to negatively impact the stock price in the short term. Investors may react to the underperformance and the downward trend in sales.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100