Hershey's consolidated net sales increased 0.2%, with organic, constant currency net sales down 0.1%. The company expects 2024 net sales growth of 2% to 3%, driven primarily by net price realization, and reported earnings per share to be relatively flat.
US stock markets reach new highs on strong earnings. Asian markets mostly gain, led by Japan's Nikkei 225. European markets trade mixed. Crude oil and gold prices fluctuate.
XPO reported Q4 revenue growth of 6% YoY to $1.94B, beating consensus. Adjusted EPS was $0.77. North American LTL segment had increase in tonnage and yield. European segment saw decline in operating income. XPO expects capex of $700M-$800M, interest expense of $240M-$260M, and adjusted tax rate of 23%-25%.
Yum! Brands reported Q4 2023 sales of $2.04B, missing estimates. KFC up 7%, Taco Bell up 6%, Pizza Hut up 1%. Adjusted EPS at $1.26. Significant debt paid off.