07:14 AM EST, 11/07/2024 (MT Newswires) -- Hershey Company ( HSY ) reported Q3 adjusted earnings Thursday of $2.34 per diluted share, down from $2.60 a year earlier.

Analysts polled by Capital IQ expected $2.55.

Net sales for the quarter ended Sept. 29 were $2.99 billion, compared with $3.03 billion a year earlier.

Analysts polled by Capital IQ expected $3.07 billion.

For 2024, the company said it now expects adjusted EPS to decline in mid-single-digits, compared with its prior expectation that it will be down slightly. Analysts polled by Capital IQ expect adjusted EPS of $9.40.

Net sales are expected to be flat for the year, compared with the prior projection that it will grow by about 2%. Analysts polled by Capital IQ expect revenue of $11.31 billion.

Shares of Hershey were down over 3% premarket.

Price: 170.89, Change: -5.93, Percent Change: -3.35