=Hershey Foods (HSY) reported earnings on Fri 28 Oct 2016 (b/o)

Hershey Foods beats by $0.11, reports revs in-line; guides FY16 EPS above consensus, revs in-line :

• Reports Q3 (Sep) earnings of $1.29 per share, $0.11 better than the Capital IQ Consensus of $1.18; revenues rose 2.2% year/year to $2 bln vs the $1.99 bln Capital IQ Consensus. Unfavorable foreign currency exchange rates a 0.2 point headwind.
• Co issues guidance for FY16, sees EPS of $4.28-4.32 including acq dilution from $4.24-4.28 vs. $4.26 Capital IQ Consensus Estimate; sees FY16 revs of +1% to ~$7.459 bln vs. $7.45 bln Capital IQ Consensus Estimate.
• "Throughout 2016, our top priority has been to restore consistency across the business. Against a backdrop of continued snacks competition, we experienced improvements in key aspects of our business. Our brands responded positively to the marketplace investments we discussed last quarter, which is why we continue to believe that candy, mint and gum is an attractive category capable of solid growth over the long term when supported with the right mix of customer and consumer marketing."