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The Hershey Co Lowers FY 2013 EPS Guidance; Reaffirms FY 2013 Revenue Guidance

Thursday, 25 Apr 2013 06:58am EDT 

The Hershey Co announced that for fiscal 2013, it expects reported earnings per share-diluted of $3.52 to $3.58. This projection, prepared in accordance with GAAP, assumes business realignment charges and NSRPE costs of $0.07 to $0.09 per share-diluted. Charges associated with the Project Next Century program are expected to be $0.03 to $0.05 per share-diluted while NSRPE is expected to be $0.04 per share-diluted. The Company continues to expect fiscal 2013 net sales growth of 5% to 7%, including the impact of foreign currency exchange rates. Net sales will be driven primarily by core brand volume growth, the U.S. launch of the Brookside product line in the food, drug and mass channels, as well as innovation such as Kit Kat Minis, Twizzlers Bites and Jolly Rancher Bites in the U.S. and the expansion of the five core global brands, Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers in key international markets. The Company expects adjusted earnings per share-diluted growth of about 12% versus a previous estimate of a 10% to 12% increase. The Company reported revenue of $6.644 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $7.066 billion and EPS of $3.64 for fiscal 2013. 

Company Quote

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