Why Hostess Brands, Inc. Stock Popped on Thursday
Shares of Hostess Brands Inc. (NASDAQ: TWNK) climbed as much as 10.1% early Thursday, then settled to close up 7.7% after the baked goods specialist announced better-than-expected third-quarter 2017 earnings.
More specifically, Hostess' revenue declined 2% year over year on a pro forma basis to $192.3 million. That translated to adjusted net income of $14.5 million, or $0.14 per share, down from $15.2 million, or $0.16 per share in the same year-ago period. Analysts, on average, were only expecting adjusted earnings of $0.12 per share, but on higher revenue of $199 million.
IMAGE SOURCE: HOSTESS BRANDS
Source: Fool.com
