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Hershey profit holds mostly steady YOY in fiscal Q2

The Hershey Company said its normalized net income for the fiscal second quarter ended July 2 was 89 cents per share, compared with the S&P Capital IQ consensus estimate of 90 cents per share.

In the prior-year period, the per-share result was a profit of 89 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $191.9 million, compared with $191.5 million in the year-earlier period.

The normalized profit margin declined to 11.5% from 11.7% in the year-earlier period.

Total revenue rose on an annual basis to $1.66 billion from $1.64 billion, and total operating expenses grew on an annual basis to $1.33 billion from $1.31 billion.

Reported net income rose 39.8% from the prior-year period to $203.9 million, or 95 cents per share, from $145.9 million, or 68 cents per share.