WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Thursday, Hershey Co. (HSY) raised its net sales growth guidance for the full-year 2021, while maintaining adjusted earnings forecast, reflecting the strength of its performance in the second quarter and the acquisition of Lily's Sweet LLC.
For fiscal 2021, the company now projects adjusted earnings in the range of $6.79 to $6.92 per share, an increase of 8 to 10 percent, on net sales growth of 6 to 8 percent.
Previously, the company expected adjusted earnings in the range of $6.79 to $6.92 per share, an increase of 8% to 10%, on net sales growth of 4 to 6 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.89 per share on net sales growth of 5.4 percent to $8.59 billion for the year. Analysts' estimates typically exclude special items.
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