Welcome to our dedicated page for Hershey news (Ticker: HSY), a resource for investors and traders seeking the latest updates and insights on Hershey stock.
The Hershey Company reports recurring developments as a NYSE-listed snacks company with a portfolio spanning confectionery, salty snacks and protein-focused products. Its brands include Hershey's, Reese's, Kisses, KIT KAT, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop, LesserEvil, Pirate's Booty, Dot's Homestyle Pretzels, ONE Brands and Fulfil.
Company news commonly covers quarterly sales and earnings, full-year outlook updates, dividend declarations on Common Stock and Class B Common Stock, investor day presentations and conference appearances. Product announcements also track limited-time candy launches, brand partnerships and merchandising activity across Hershey's core chocolate, sweets, salty-snack and functional-snacking categories.
Hershey is investing in education infrastructure in West African cocoa-growing communities, continuing its 130-year commitment to children's education. The company is funding the construction of 12 new schools in Côte d'Ivoire, including one in Ozékro village. Hershey has partnered with the Child Learning and Education Facility (CLEF), a public-private coalition aiming to build 2,500 classrooms, train teachers, and improve literacy for 5 million primary school children.
The company's efforts extend beyond classroom construction to include canteens, water wells, latrines, and teacher training. These initiatives align with Côte d'Ivoire's National Strategy for Sustainable Cocoa and Hershey's Income Accelerator program, reflecting a commitment to a sustainable cocoa supply chain and improved livelihoods for cocoa farming families.
The Hershey Company (HSY) has unveiled its Halloween 2024 product lineup, featuring new and returning treats. Key highlights include:
1. New products: Kit Kat® Ghost Toast (cinnamon toast flavored), Reese's Werewolf Tracks (vanilla-flavored creme, milk chocolate, and peanut butter), Hershey's Milk Chocolate Harry Potter™ Bar Snack Size, and Twizzlers Ghosts.
2. Returning favorites: Reese's Pumpkins, Reese's Skeletons, Hershey's Harry Potter™-inspired chocolates, and assorted Halloween-themed products.
3. Expanded offerings: Halloween-themed SkinnyPop and Pirate's Booty snacks, catering to the growing demand for salty snacks during Halloween.
The company aims to maintain its leadership in Halloween festivities with this diverse product range, available in various sizes and formats.
The Hershey Company (NYSE: HSY) has announced its latest quarterly dividends. The Board of Directors declared dividends of $1.370 per share on Common Stock and $1.245 per share on Class B Common Stock. These dividends were declared on July 31, 2024, and will be payable on September 16, 2024, to stockholders of record as of August 16, 2024.
This marks the 378th consecutive regular dividend on Common Stock and the 159th consecutive regular dividend on Class B Common Stock, highlighting Hershey's long-standing commitment to returning value to shareholders. The consistency in dividend payments underscores the company's financial stability and shareholder-friendly policies.
Hershey (NYSE: HSY) announced its Q2 2024 financial results and updated 2024 outlook. Q2 net sales decreased by 16.7% to $2,074.5 million, with organic, constant currency sales down 16.8%. Net income fell by 55.1% to $180.9 million ($0.89 per share-diluted). Adjusted EPS-diluted was $1.27, a decrease of 36.8%.
Outlook for 2024:
- Net sales growth: ~2% (previously 2-3%)
- Reported EPS growth: Down 1-3% (previously ~0%)
- Adjusted EPS growth: Down slightly (previously ~0%)
Contributing factors to the sales decline include planned inventory reductions due to ERP system implementation and seasonal shipment timing shifts. Operating profit was $287.8 million, down 48.7%, while the effective tax rate increased to 26.4%.
North America Confectionery sales decreased by 20.7%, while Salty Snacks rose 6.4%. International sales fell 8.9%.
Hershey has launched the Hershey Income Accelerator Program (HIAP) to address challenges faced by cocoa farmers. The $40 million initiative aims to improve farmer income by 20% through cash transfers. In its first year, HIAP reached 1,850 farmers, with over 1,400 receiving initial payments. The program is scaling up to support 20,000 households.
HIAP complements Hershey's $500 million Cocoa For Good strategy and was developed in collaboration with Côte d'Ivoire's Conseil du Café-Cacao and partners CARE International, Rainforest Alliance, and PUR. The initiative aims to create a resilient supply chain by building long-term relationships with cooperatives and empowering farmers to implement sustainable farming practices.
The Hershey Company (NYSE: HSY) has appointed MiltonONE, a newly formed team from Publicis, as its agency of record for U.S. media across its candy, mint, gum (CMG), salty, and protein business units. This decision concludes a comprehensive review aimed at centralizing integrated media responsibilities. The review did not cover Hershey's international media. MiltonONE is a custom solution created by Publicis, bringing together top talent from various offices to exclusively service Hershey brands. Hershey's U.S. media head, Vinny Rinaldi, emphasized that Publicis's strategic planning, integrated investment, and data & technology enhancements will bolster Hershey's growth and media capabilities. MediaLink, a media and marketing advisory firm, guided Hershey through the review process.
The Hershey Company (NYSE: HSY) has announced that it will release its second-quarter sales and earnings results on August 1, 2024.
A conference call with analysts is scheduled for the same day at 8:30 a.m. ET.
The call will be accessible via a live webcast on the Hershey corporate website.
For more details, visit the 'CALENDAR OF EVENTS' section on the company's investor webpage.
The Hershey Company released its 2023 ESG Report, emphasizing its continued commitment to sustainability and resilience. The report showcases Hershey's priorities such as building a resilient cocoa supply chain and reducing environmental impact. Key initiatives include the Cocoa For Good strategy and the Hershey Income Accelerator Program, benefiting 1,850 farmers in its first year. Hershey also achieved significant milestones in emissions reduction and waste management, phasing out 1.7 million pounds of packaging material. As part of its refreshed sustainability strategy, Hershey plans to scale its efforts to meet emissions targets and enhance sustainable packaging. The company aims to strengthen its long-term relationships with cocoa farmers to build an economically resilient supply chain.
Hershey (NYSE: HSY) has updated its 2030 science-based greenhouse gas (GHG) emissions reduction targets. The company aims to reduce scope 1 and 2 GHG emissions by 50% from 2018 levels by 2030, having already achieved a 43% reduction. Hershey also targets a 36% reduction in scope 3 Forest Land and Agriculture (FLAG) emissions and a 30% reduction in non-FLAG emissions by 2030. The targets align with the Paris Agreement's goal to limit global warming to 1.5 degrees Celsius.
Initiatives include increasing renewable energy usage, promoting good agricultural practices, and preventing deforestation. In 2023, about 80% of Hershey’s electricity came from renewable sources. The company aims for a deforestation-free supply chain for cocoa, palm oil, pulp and paper, and soy by December 31, 2025.
Hershey chocolate scientist Allison Brown, PhD, volunteered with USAID's Farmer-to-Farmer program to assist cacao farmers in Trinidad and Tobago. Brown, alongside local farmers, developed value-added products like chocolate rum balls and cocoa nib horchata. They also explored using dried tropical fruits as sweeteners to reduce sugar content in chocolate. This initiative aimed to maximize the farmers' crop value and income. Hershey's support for Brown's participation underscores the company's commitment to employee development and sustainable practices in the cocoa supply chain.