Hershey Results, Outlook Hurt by High Cocoa Prices and Soft Consumer Demand

Key TakeawaysHistorically high cocoa prices and soft consumer demand negatively affected Hershey's earnings and revenue.Two of the candy and snacks maker's three units posted sales declines.Hershey also reduced its full-year forecast. Hershey Co. (HSY) Thursday posted lower-than-estimated third-quarter results on soaring cocoa prices and weak consumer spending and also lowered its projections for sales and earnings for the year. The maker of its eponymous candy bars and Kisses reported quarterly adjusted ea ...