NEW YORK (TheStreet) -- Shares of Hershey (HSY - Get Report) were climbing in pre-market trading on Friday after the chocolate maker reported better-than-expected results for the 2016 fiscal third-quarter and raised its full-year earnings outlook.
Before today's market open, Hershey posted adjusted earnings of $1.29 per share, beating analysts' projected $1.19 per share.
Revenue grew 2.2% year-over-year to $2.00 billion, which surpassed Wall Street's estimated $1.99 billion.
For the year-ago period, the Hershey, PA-based company reported adjusted earnings of $1.17 per share and $1.96 billion in revenue.
Hershey now expects to post adjusted earnings of $4.28 to $4.32 per share in 2016 vs. its prior estimates of $4.24 to $4.28 per share.
The company forecasts full-year revenue to rise 1%.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Hershey as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, expanding profit margins and impressive record of earnings per share growth. The team feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that it evaluated.
You can view the full analysis from the report here: HSY