(CercleFinance.com) – Hershey reported quarterly results above expectations on Friday, an increase in its prices in the United States adding to the increase in its sales volumes.
The American confectionery group says it generated a net profit excluding exceptional items of $628 million over the first three months of the year, compared to a profit of around $609 million a year earlier.
Broken down per share, its profit stood at $3.07, while the market consensus was targeting an EPS of $2.89.
Its net revenue increased by 8.9% to reach $3.25 billion, including organic growth (at constant exchange rates) of 8.6%.
In the United States, the prices of its confectionery products increased by 5.9% on an organic basis in the first quarter, which did not prevent its sales from increasing by 4.5% on an internal basis.
For 2024, the group based in Hershey (Pennsylvania) still says it expects growth of 2% to 3% in its turnover, but on stable earnings per share (EPS) in published data.
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