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Hershey Media Report 10/31/16
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Revenue and Profit at Hershey Increase
Oct 29, 2016 | Sound Sector
By David Glass
On Friday, Hershey Co said that Americans were snacking more, helping the maker of chocolate post quarterly sales that were higher and increase its outlook for profit. -
Profits and Revenue Up At Hershey
Oct 30, 2016 | Tech News Observer
By Matthew Paulson
Hershey Co said that Americans are snacking more. Of course, what they are really saying is that Americans are, apparently, buying more chocolate—as the company has experienced a boost in sales to reach its full-year profit guidance. -
WBRZ News 2 at Noon
Oct 31, 2016 | ABC Baton Rouge
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CBS 7 News at 5
Oct 31, 2016 | CBS Odessa TX
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Channel 2 News: Morning Edition
Oct 31, 2016 | NBC Anchorage, AK
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FOX 33 News Good Day
Oct 31, 2016 | Fox Shreveport LA
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Revenue and Profit at Hershey Increase
Oct 29, 2016 | Sound Sector
By David Glass
On Friday, Hershey Co said that Americans were snacking more, helping the maker of chocolate post quarterly sales that were higher and increase its outlook for profit.
The chocolate maker, which posted a profit for the third quarter that was better than had been expected, pointed to additional spending, despite mixed consumer confidence signals during the season for quarterly earnings and competitions by rivals targeting consumer that are health conscious.
CEO J.P. Bilbrey said a firming in the category can be seen and the company believes people across all levels of income started to spend more confidently than they have done before.
Hershey rejected an approach for a takeover from Mondelez International the maker of Oreo cookies earlier in 2016.
Bilbrey will resign next July. Last summer Hershey promoted Michele Buck to COO and Buck will likely be a top candidate for the CEO position. Ms. Buck on Friday said there has been more competition.
Hershey, which makes Jolly Ranchers as well as Reese’s Peanut Butter Cups posted a rise of 46% in profit during the third quarter as its sales increased by 2.2% from the same time last year to end the quarter at $2 billion.
Hershey is now expecting earnings for the full year, adjusted to eliminate special items to be between $4.28 and $4.32 per share, which is higher by four cents than the estimate it released previously.
Shares were up over 7% in trading on Friday.
During the summer, Oreo maker Mondelez made a formal offer, but the board of directors at Hershey wanted a higher price for their company.
This past August, Mondelez announced it would no longer pursue an acquisition which left Hershey to look itself for expansion oversees and in the snake segment.
Over the last few years, Hershey acquired Krave beef jerky, released a line of squeeze pouches and protein bars known as SoFit, while coming out with snacks that mix pretzels, nuts and chocolate in an attempt to broaden the company’s reach.
At the same time, Mars Inc, the maker of M&Ms is merging with Wrigley gum giving it additional advantage with retailers. Mondelez is also bringing its chocolate brand form Europe know as Milka into the U.S. and will come out with an Oreo chocolate bar close to the time Hershey releases it Cookie Layer Crunch.
Profit by Hershey for the quarter was $227.3 million equal to $1.06 per share, in comparison to $154.7 million equal to 70 cents per shares for the same period one year ago.
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Profits and Revenue Up At Hershey
Oct 30, 2016 | Tech News Observer
By Matthew Paulson
Hershey Co said that Americans are snacking more. Of course, what they are really saying is that Americans are, apparently, buying more chocolate—as the company has experienced a boost in sales to reach its full-year profit guidance.
Indeed, the company reported better-than-expected profits even amid mixed signals about consumer confidence expressed earlier in the earnings season. Also, more competition from rivals—particularly targeting health-conscious consumers—has put pressure on sales. Still, it looks like Hershey is holding strong.
Chief Executive J.P. Bilbrey said, “I think we can see that there’s firming in the category. We think people are, across all income cohorts, beginning to spend a little more confidently than they have before.”
Apparently the company is doing so well that they managed reject a takeover approach of Mondelez International Inc, from earlier this year. Mondelez had made an offer over the summer but the Hershey executive board asked for more money. Then in August Mondelez made it known it would its chase, leaving Hershey instead to pursue overseas expansion—and domestic [healthy] snack expansion—on its own terms. You may know Mondelez better as the company who makes Oreo cookies.
Now, Brilbey will step down in July, and Michele Buck—who was promoted to Chief Operating Officer last summer—is, perhaps, the most likely CEO candidate. Of course, she is currently helming efforts to increase the company’s presence in the health-focused snacks field (particularly at the checkout line).
Buck even says, “There has been a bit more competition [from healthy items].”
Of course, Hershey also makes popular Reese’s Peanut Butter Cups and Jolly Ranchers candy, reporting in addition a 46 percent increase in the third-quarter with sales up 2.2 percent, to reach $2 billion in the third quarter. Now the company expects to reach its full-year earnings per share—which has been adjusted to exclude specific items—to register between $4.28 and $4.32 per share. This is four cents higher than its previuos earnings estimate and, more importantly, tops analyst expectations.
And with that, shares in Hershey Co rose 6.3 percent, to $101.50 in early afternoon activity.
You may be aware that Hershey had recently bought Krave beef jerky and created the SoFit line of protein bars and squeeze pouches, and they have even developed their own snack mixes (chocolate, pretzels, nuts) as part of its attempt to reach a more health-conscious consumer.
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Oct 31, 2016 | ABC Baton Rouge
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Rough transcript: well hershey's is celebrating halloween with some sweet news. hershey reported profits are on their way up. now this is the first earnings report for the company since cadbury owner mondelez abandoned its plan to buy hershey for 23-billion dollars. shares of hershey rose some five percent in early trading on the good news... and its stock is up nearly ten percent this year. sales of hershey products are actually growing faster overseas than in the US.
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Oct 31, 2016 | CBS Odessa TX
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Rough transcript: Hershey is celebrating halloween with some good news. Hershey reported profits topped wall street forecasts on friday which is also when the nation celebrate all things chocolate. this is the first earnings report for the company since cadbury owner mondelez abandoned its plan to buy hershey for 23 billion dollars. shares of hershey rose five percent in early trading on good news... and its stock is up nearly ten percent this year. sales of hershey products are actually growing faster overseas than in the u-s. theyre up more than five-percent internationally compared with just under two- percent in north america
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Channel 2 News: Morning Edition
Oct 31, 2016 | NBC Anchorage, AK
View clip here: http://beta.criticalmention.com/app/#clip/view/24772297?token=6c406fef-1868-44fb-9a26-e708a83f6b4e
Rough transcript: and fitting news from hershey this halloween. it reported profits topped wall street forecasts on friday. this is the first earnings report for the company since cadbury owner mondelez abandoned its plan to buy hershey for 23- billion dollars. shares of hershey rose five percent in early trading on the good news... and its stock is up nearly ten percent this year. sales of hershey products are actually growing faster overseas than here in the US. theyre up more than 5% internationally compared with just 2% in north america.
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Oct 31, 2016 | Fox Shreveport LA
View clip here: http://beta.criticalmention.com/app/#clip/view/24772305?token=6c406fef-1868-44fb-9a26-e708a83f6b4e
Rough transcript: in consumer news you can use .well, this probably comes as no surprise...ahead of halloween day today, hershey's reported profits topped wall street forecasts friday.... which also happened to be national chocolate day.it's the first earnings report for the company since cadbury owner mondelez abandoned its plan to buy hershey for 23- billion dollars. shares of hershey rose five percent in early trading on the good news... and its stock is up nearly ten percent this year. sales of hershey products are actually growing faster overseas than in the US. they're up more than five- percent internationally compared with just under two- percent in north america.
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