HERSHEY, Pa. -- The long runup to Easter and a recent price increase helped Hershey, the nation's second-largest candymaker, post a 20 percent increase in its first-quarter profit.
The Hershey Co. said today it earned $75.9 million, or 33 cents a share, in the three months ended April 5. A year earlier, it earned $63.2 million, or 28 cents a share.
Discounting charges to streamline its operations, the maker of Hershey's Kisses and Reese's candy said it would have earned $86 million, or 38 cents a share. That beat the 34 cents per share consensus estimate of analysts polled by Thomson Reuters.
Revenue rose 6.5 percent to $1.24 billion from $1.16 billion a year ago.
The Hershey, Pa.-based company maintained its previous sales and earnings expectations.
-- The Associated Press
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