Hershey Co Stock Price, News & Analysis

The Hershey Company (NYSE: HSY) reported strong first-quarter results for 2023, with net sales reaching $2,987.6 million, a 12.1% increase compared to the previous year. The company's reported net income was $587.2 million, or $2.85 per share-diluted, a 10.9% rise year-over-year. Adjusted earnings per share rose 17.0% to $2.96.

Hershey raised its full-year guidance, projecting net sales growth of approximately 8% and earnings per share growth of about 15%. The increase in sales was supported by strong demand and effective price realization across segments. Despite some margin pressures from higher costs, especially in raw materials, the company remains optimistic about sustaining growth into 2024.

The Hershey Company took action to address a significant humanitarian issue when over 1 million servings of therapeutic food for children were found abandoned in a warehouse in western Africa due to pandemic-related disruptions. Led by Tim McCoy, Hershey coordinated with partners to transport the food to children in need through the Children of Africa Foundation. This initiative aligns with Hershey's commitment to supporting cocoa farming communities and enhancing child nutrition. The company's long-standing partnership with Project Peanut Butter facilitates the distribution of peanut-butter-based nutritional supplements to schools in Ghana and Côte d'Ivoire. The donation of the therapeutic food, known as Grow Nut, exemplifies Hershey's Cocoa For Good strategy, which addresses social and environmental challenges in cocoa-producing regions.

The Hershey Company (NYSE: HSY) announced on April 17, 2023, a definitive agreement to acquire two manufacturing plants from Weaver Popcorn Manufacturing. This strategic move aims to enhance the supply chain capabilities for Hershey's SkinnyPop brand, which has seen significant growth, being the top retail sales leader in ready-to-eat popcorn over the past three years. The acquisition includes facilities located in Bethlehem, Pennsylvania, and Whitestown, Indiana, and is expected to provide increased flexibility, agility, and resilience in Hershey’s salty snacks supply chain. The transaction will be funded via cash on hand and short-term borrowings, subject to regulatory approvals.

The Hershey Company (NYSE: HSY) will announce its first-quarter sales and earnings results on April 27, 2023. A conference call with analysts is scheduled for 8:30 a.m. ET on the same day, which will be available via a live webcast on the Hershey corporate website. Investors can find more details by visiting the Hershey calendar of events.

This announcement is significant for stakeholders and interested investors, providing insights into the company's performance for the first quarter of the year.

The Hershey Company (NYSE: HSY) has announced a six-year extension of its partnership with CBS Sports, Warner Bros. Discovery Sports, and the NCAA as the "Official Confectionary Partner." This deal includes the addition of Hershey's salty snack brands, Dot's Homestyle Pretzels and SkinnyPop Popcorn, as the "Official Pretzel and Popcorn Partner" of the NCAA, alongside their flagship brand, Reese's. The partnership, first established in 2009, will continue to promote Hershey products through various media and event activations. The Reese's College All-Star Game is set for March 31, 2023, showcasing top NCAA senior athletes. This extension solidifies Hershey's commitment to supporting student-athletes and sports fans alike.

The Hershey Company (NYSE: HSY) has reaffirmed its financial guidance for fiscal year 2023 during its Investor Day held on March 22, 2023. The company anticipates net sales growth of 6% - 8%, reported earnings per share growth of 11% - 15%, and adjusted earnings per share growth of 9% - 11%. The event included strategic updates and a Q&A session, accessible via the company's investor website. The company also issued a safe harbor statement cautioning that actual results may vary due to various risks including supply chain issues, market competition, and international operations.

The Hershey Company (NYSE: HSY) has announced its upcoming Investor Day scheduled for March 22, 2023, from 9 - 11 a.m. ET.

This event aims to provide investors with updates on Hershey's strategic plans and financial outlook, alongside a Q&A session. Interested parties can access the event via the Investors section of Hershey's corporate website, where a replay will also be available afterward. Hershey is a leading snacks company, generating over $10 billion in annual revenues from over 100 brand names in approximately 80 countries.

The Hershey Company (NYSE: HSY) has completed the purchase of 1 million shares of its common stock from Hershey Trust Company for approximately $240 million, equating to $239.91 per share. This transaction aligns with Hershey's capital allocation strategy, emphasizing the company’s strong financial position. CFO Steve Voskuil highlighted that the strong balance sheet allows continued investments aimed at future growth. Hershey operates in the snacks sector, generating over $8.9 billion in annual revenues from its portfolio of iconic brands, including Hershey's, Reese's, and Kit Kat.