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Hershey 1Q Earnings Jump 20 Percent

The Associated Press

HARRISBURG, Pa. (AP) — Hershey, the nation's second-largest candymaker, reported a 20 percent surge in first quarter profit because of a longer Easter sales season and a recent price increase.

The results beat Wall Street expectations.

The Hershey Co. said Thursday it earned $75.9 million, or 33 cents a share, in the three months ended April 5.

Excluding charges to streamline its operations, Hershey says it would have earned $86 million, or 38 cents a share. That beat the 34 cents per share consensus estimate of analysts.

Hershey says revenue rose 6.5 percent to nearly $1.24 billion.

The Hershey, Pa.-based maker of Hershey's Kisses and Reese's maintained its previous sales and earnings expectations.