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4 months ago
BRIEF-Hershey says 2017 adjusted EPS to increase around high end of 7-9 pct range
April 26, 2017 / 11:20 AM / 4 months ago

BRIEF-Hershey says 2017 adjusted EPS to increase around high end of 7-9 pct range

April 26 (Reuters) - Hershey Co

* Hershey co says full-year net sales expected to increase around low end of 2% to 3% range

* Hershey announces first-quarter results; updates 2017 outlook

* Q1 earnings per share $0.58

* Q1 sales $1.88 billion versus i/b/e/s view $1.9 billion

* Q1 earnings per share view $1.25 -- Thomson Reuters I/B/E/S

* Sees fy 2017 earnings per share $3.31 to $3.55 including items

* Hershey co says adjusted earnings per share-diluted expected to increase around high end of 7% to 9% range of $4.72 to $4.81 for 2017

* Hershey co says "expect non-seasonal u.s. Cmg trends to improve over remainder of year"

* Hershey co says "additionally, macroeconomic challenges persist in china and we expect net sales for full year to be lower there than 2016"

* Hershey co says expect impact of foreign currency exchange rates to be minimal versus our previous estimate of a 0.25 point headwind for fy

* Hershey co says continue to forecast strong productivity and cost savings initiatives in 2017

* Hershey co says in 2017 company anticipates its effective tax rate will be slightly lower than its original forecast

* Hershey co says china chocolate category retail sales in q1 of 2017 were about same as last year

* Fy2017 earnings per share view $4.78, revenue view $7.60 billion -- Thomson Reuters I/B/E/S

* Hershey - while preliminary, easter sell through is in line with estimate & sees hershey u.s. Candy, mint & gum april year-to-date retail takeaway to be about 2.5%

* Hershey co qtrly adjusted earnings per share $1.31 Source text for Eikon: Further company coverage:

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