Hershey (HSY) Misses Q3 Earnings and Revenue Estimates

Company Performance - Hershey reported quarterly earnings of $2.34 per share, missing the Zacks Consensus Estimate of $2.50 per share, and down from $2.60 per share a year ago, representing an earnings surprise of -6.40% [1] - The company posted revenues of $2.99 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.79%, and down from $3.03 billion year-over-year [2] - Over the last four quarters, Hershey has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Hershey shares have lost about 5.2% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The current Zacks Rank for Hershey is 5 (Strong Sell), indicating expected underperformance in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $2.48 on revenues of $2.9 billion, and for the current fiscal year, it is $9.39 on revenues of $11.3 billion [7] - The estimate revisions trend for Hershey is currently unfavorable, which could change following the recent earnings report [6] Industry Context - The Food - Confectionery industry, to which Hershey belongs, is currently in the bottom 6% of the Zacks industry rankings, suggesting potential challenges ahead [8]