Hershey Co Stock Price, News & Analysis

The Hershey Company (NYSE: HSY) announced quarterly dividends of $1.036 for Common Stock and $0.942 for Class B Common Stock. These dividends were declared on April 25, 2023, and are payable on June 15, 2023, to stockholders of record as of May 19, 2023. This marks the 373rd consecutive regular dividend for Common Stock and the 154th for Class B Common Stock, indicating the company's strong commitment to returning value to its shareholders.

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.