Hershey, TE, Dentsply all miss on Q3 revenue estimates

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The Hershey Co.

The Derry Township company missed on Wall Street earnings projections for its third quarter, posting earnings per share of $1.05 against analyst estimates of $1.08.

Consolidated net sales were up 5.8 percent in the quarter to $1.962 billion from $1.854 billion in 2013’s third quarter. That missed analyst estimates by $10 million, according to Yahoo Finance.

Net income, however, fell in the quarter. It was $233 million in 2013 but dropped to $224 million in 2014’s third quarter.

John P. Bilbrey, president and CEO of The Hershey Co., said preliminary reports show Halloween and net sales were slightly better than the company’s estimates.

“However, retail store traffic and consumer trips continue to be irregular within the food channel,”  he said. “This has adversely impacted purchases of non-seasonal everyday candy products. Over the remainder of the year and into 2015 we are focused on driving non-seasonal and seasonal net sales growth, across all channels, with the optimal mix of innovation, advertising, merchandising and programming that we believe positions us to win across the confectionery and broader snacks categories.”

Hershey trades its shares on the New York Stock Exchange under the ticker symbol HSY.

TE Connectivity Ltd.

Switzerland-based TE reported its adjusted earnings per share for its recently completed fourth quarter at $1.02, a 10 percent increase from 2013’s fourth quarter.

The company said that $1.02 was on the high end of its guidance, and the mark beat analyst estimates by 2 cents, according to Yahoo Finance.

Net sales were up 4 percent to $3.58 billion compared to the fourth quarter of 2013, though that missed analyst estimates by $60 million.

As for its next fiscal year, the company expects net sales of between $14.7 billion and $14.5 billion, with adjusted earnings per share between $4.05 and $4.35.

First-quarter adjusted earnings per share are expected between 88 cents and 92 cents, with net sales between $3.46 billion and $3.56 billion.

The company has engineering and administrative offices in Central Pennsylvania. It entered the local marketplace in 1998 as Tyco International when it acquired AMP. Tyco spun off Tyco Electronics Ltd., which became TE Connectivity in 2011.

TE trades on the New York Stock Exchange under the ticker symbol TEL.

Dentsply International Inc.

York-based Dentsply said while sales increased less than 1 percent from the third quarter of 2013, earnings per share rose 9 percent.

The company reported adjusted earnings per diluted share of 62 cents for the quarter, up from 57 cents year to year. That beat analyst estimates by 2 cents, according to Yahoo Finance.

Net income, however, dropped from $80 million to $75 million.

The $708 million in sales revenue missed analyst estimates by about $17.8 million.

The company also narrowed its earnings forecast for 2014 to between $2.49 and $2.53 per diluted share. After the second quarter, Dentsply Chairman and CEO Bret Wise estimated earnings between $2.47 and $2.55.

Dentsply trades on the NASDAQ under the ticker symbol XRAY.