Hershey Stock Pops Despite Rising Cocoa Costs Expected to Bite Into 2024 Earnings
HSYHershey(HSY) The Motley Fool·2024-02-09 21:04

On Thursday, shares of Hershey (HSY 4.14%) gained 4.1%, following the confectionary and snack-food giant's release of its fourth-quarter 2023 report. The company behind such brand favorites as its namesake brand, Reese's, and Twizzlers posted quarterly results that Wall Street characterizes as "mixed." Revenue slightly missed the analyst consensus estimate, while earnings exceeded it. But there was nothing even semisweet about management's full-year 2024 guidance: Both the top and bottom lines were below th ...