Candy maker Hershey Co.'s (HSY) fourth-quarter 2014 reported net income grew to $202.51 million or $0.91 per share, from $186.075 million or $0.82 per share, for the comparable period of 2013.
Adjusted net income, excluding net items, totaled $231.75 million or $1.04 per share in the fourth quarter of 2014. On average, 14 analysts polled by Thomson Reuters expected the company to post earnings of $1.06 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated net sales were $2.01 billion in the latest quarter, compared with $1.96 billion for the 2013 fourth quarter. Analysts projected quarterly sales of $2.07 billion.
For 2015, reported earnings per share are expected to be in the $4.14 to $4.25 range, and adjusted earnings per share to increase 8% to 10%, including dilution from acquisitions and divestitures of $0.03 to $0.05 per share, and be in the $4.30 to $4.38 range.
Further, the company projects full-year 2015 net sales to increase 5.5 percent to 7.5 percent, including a net benefit from acquisitions and divestitures of about 2.5 points and unfavorable foreign currency exchange. Excluding the net benefit of acquisitions and divestitures, full-year net sales are expected to increase 3 percent to 5 percent, including unfavorable foreign currency exchange.
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