Hershey, HMA earnings down; Carlisle Cos. up in Q3
The Hershey Co. and Health management Associates Inc. saw their third-quarter earnings drop from a year ago, while Carlisle Cos. Inc.'s earnings gained 29 percent.
Dauphin County-based candy maker Hershey posted net income of $176 million, a $20 million or 10 percent drop from a year ago, despite a 7.5 percent increase in net sales, the company said.
Part of the drop was due to nearly $26 million in charges the company took on in the third quarter related to Hershey’s internal restructuring, known as Project Next Century, as well as costs associated with the acquisition of Brookside Foods Ltd., according to the company.
Earnings per diluted share were 77 cents, falling short of analyst estimates of 86 cents, according to Yahoo Finance.
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Florida-based Health Management Associates, which operates hospitals in Lancaster and Cumberland counties, posted quarterly net income of $48 million, down just under $2 million or 4 percent from a year ago, according to the company.
Earnings per diluted share were 16 cents, just short of analyst estimates of 19 cents a share, according to Yahoo Finance.
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North Carolina-based Carlisle Cos., which has manufacturing and warehousing operations in Cumberland County, posted net income of $69.5 million in the third quarter, a 29 percent increase from a year ago.
Carlisle Construction Materials, the company’s roofing and other building products segment based in Carlisle, as well as its Interconnect Technologies business continued strong performance to bolster quarterly results, the company said.
Earnings per diluted share were $1.08, missing analyst estimates of $1.18, according to Yahoo Finance.
Carlisle Cos. trades its shares on the NYSE under the ticker symbol CSL.