- Hershey (NYSE:NYSE:HSY) reports a net acquisitions and divestitures benefit of 1.4 percentage points in Q2. Unfavorable foreign currency exchange swings chopped off 1.3 percentage points of growth.
- Segment sales: North America +1.8% to $1.399B, International -12.1% to $179.3M.
- Adjusted gross margin rate increased 130 bps to 46.7% off of improved pricing.
- Retail chocolate sales in China were up about 10%.
- Guidance: Full-year revenue expected to increase 1.5% to 2.5% (+3% to +4% in constant currency). EPS of $4.10 to $4.18 seen vs. $4.15 consensus.
- Previously: Hershey beats by $0.03, misses on revenue