Hershey cuts FY24 adjusted EPS view to $9.00-$9.10 from $9.49-$9.59

Consensus $9.40. Cuts FY24 revenue view to flat from up 2%. The company said, “2024 projected earnings per share-diluted, as presented above, does not include the impact of mark-to-market gains and losses on our commodity derivative contracts that are reflected within corporate unallocated expense in segment results until the related inventory is sold since we are not able to forecast the impact of the market changes.”