Hershey Stock Rises as Higher Prices Help Firm Offset Soaring Cocoa Costs
1. Hershey beat earnings estimates, driven by price hikes and cost controls. 2. Fourth-quarter adjusted EPS was $2.69, with revenue at $2.89 billion. 3. Hershey warns of a 40% drop in full-year profit due to cocoa prices. 4. Cocoa prices have doubled over the last year, impacting profitability. 5. Hershey shares remain down over 20% year-over-year despite recent gains.