Hershey Foods reports EPS in-line, beats on revs; guides FY14 in-line
Reports Q4 (Dec) earnings of $0.86 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.86; revenues rose 11.7% year/year to $1.96 bln vs the $1.89 bln consensus.
- Co issues in-line guidance for FY14, sees EPS of $4.05-4.13, excluding non-recurring items, vs. $4.10 Capital IQ Consensus Estimate, excluding net GAAP charges of about $7 million to $9 million, or $0.02 to $0.03 per share-diluted.
- Sees 2014 net sales growth of 5-7%; current consensus represents +5.8% sales growth
- Net sales will be driven primarily by core brand volume growth as well as innovation such as York Minis, Hershey's Spreads, Lancaster Soft Crèmes Caramels and Brookside Crunchy Clusters in the U.S., Hershey's Kisses Deluxe in China and the continued rollout of our five global brands in key international markets.