Hershey Co Stock Price, News & Analysis

The Hershey Company (NYSE: HSY) reported a strong second quarter for 2022, with net sales of $2,372.6 million, reflecting a 19.3% increase. Organic sales rose 14.1%, and adjusted EPS increased by 22.4% to $1.80. The company raised its full-year outlook, anticipating net sales growth of 12-14% due to robust consumer demand and price adjustments. However, gross margins decreased to 42.1%, primarily due to rising supply chain costs. Hershey's focus on brand investment and operational efficiency aims to sustain this momentum into 2023.

The Hershey Company (NYSE:HSY) will announce its second-quarter sales and earnings results on July 28, 2022. A conference call with analysts is scheduled for 8:30 a.m. ET on the same day, which will be accessible via a live webcast on the Hershey corporate website. Stakeholders can find more information on the webcast by visiting the company's calendar of events.

The Hershey Company (NYSE: HSY) has donated the historic Hershey Theatre to The M.S. Hershey Foundation. Located in Hershey, Pennsylvania, the theatre has been a cultural landmark since its opening in 1933. Michele Buck, CEO of Hershey, emphasized the donation as a continuation of Milton Hershey's legacy. The M.S. Hershey Foundation, which has operated the theatre since 1970, aims to enhance educational and cultural opportunities in the community. Hershey is renowned for its iconic snack brands and has reported over $8.9 billion in annual revenues.

Hershey's has partnered with Pandora to launch custom #SmoresLife mixtapes designed to enhance summer s'mores experiences. The mixtapes, featuring various music genres, will refresh throughout the summer, encouraging families to create memorable moments while enjoying this classic treat. This collaboration aims to blend the joy of music with s'more-making, highlighting the nostalgic feelings associated with this popular snack. Hershey's continues its commitment to delivering quality products and fostering community engagement through creative partnerships.

The Hershey Company has renewed its partnership with Team USA, committing support for the Olympic and Paralympic Games from 2024 to 2028, including the LA28 Games. As the first domestic food partner, Hershey aims to enhance the experience for athletes and fans. The collaboration will build on previous support since 2015 and utilize NBCUniversal's media platforms through 2028. Hershey's commitment reflects its dedication to U.S. athletes and aligns with its brand ethos.

The Hershey Company has announced the nationwide launch of Lily's Sweet Fruity Gummy Bear Friends and Lily's Tart and Tasty Sour Gummy Worms, featuring no added sugar. These products cater to the growing consumer demand for healthier snack options without compromising on taste. The gummies come in various flavors, delivering less than one gram of sugar per serving. This product launch enhances the Lily's brand portfolio, acquired by Hershey in June 2021, aligning with its strategy to diversify offerings in the better-for-you snacks category.

The Board of Directors of Hershey declared quarterly dividends of $0.901 on Common Stock and $0.819 on Class B Common Stock on April 27, 2022. These dividends are payable on June 15, 2022, to stockholders of record as of May 20, 2022. This announcement marks the 370th consecutive dividend for Common Stock and the 151st consecutive dividend for Class B Common Stock, showcasing the company’s commitment to returning value to shareholders.

The Hershey Company (NYSE: HSY) reported first-quarter 2022 net sales of $2,666.2 million, up 16.1% year-over-year, driven by a robust performance in the North America Confectionery and Salty Snacks segments. Net income reached $533.5 million, or $2.57 per share-diluted, marking a 35.3% increase. The company raised its full-year outlook, anticipating net sales growth of 10-12% and adjusted EPS growth of 10-12%. However, challenges include supply chain inflation impacting profitability. The effective tax rate improved to 21.2%.