Hershey Co - HSY STOCK NEWS

The Hershey Company (NYSE:HSY) will announce its first-quarter sales and earnings results on April 28, 2022. A conference call for 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. For details, please visit the company's calendar of events page.

This event highlights Hershey's ongoing commitment to transparency and communication with investors as it continues to navigate the market landscape.

The Cadbury brand, operated by Hershey, has announced the top 10 finalists for the fourth-annual Cadbury Bunny Tryouts, with public voting open from March 8 to March 22, 2022. The winning pet will star in the 2022 Cadbury Clucking Bunny Easter commercial and receive a $5,000 prize. For each 5,000 votes cast, Cadbury will donate an additional $5,000 to the ASPCA, up to $20,000. The winner will be revealed on March 29, 2022, further enhancing the brand's community engagement and charitable contributions.

At the 2022 CAGNY conference, Hershey's CEO Michele Buck and CFO Steven Voskuil outlined the company's strategic growth plans for 2022. They reaffirmed the prior earnings expectations, forecasting net sales growth of 8-10% and reported earnings per share growth of 7-10%. Adjusted earnings per share are anticipated to increase by 9-11%. The acquisitions of Pretzels, Dot's, and Lily's are expected to positively impact net sales growth by 3-4 percentage points for the year.

The Hershey Company (NYSE: HSY) announced the purchase of one million shares of its common stock from Hershey Trust Company for approximately $203 million, at a price of $203.35 per share. This buyback aligns with Hershey's capital allocation strategy and stock replenishment program, highlighting the company's commitment to shareholder value. CFO Steve Voskuil expressed that the strong balance sheet allows continued investment flexibility for future growth. Hershey has a robust portfolio of over 90 brands generating more than $8.1 billion in annual revenues.

The Hershey Company (NYSE: HSY) has declared quarterly dividends of $0.901 for Common Stock and $0.819 for Class B Common Stock, as announced on February 2, 2022. These dividends are set to be paid on March 15, 2022 to stockholders of record by February 18, 2022. This marks the 369th consecutive regular dividend for Common Stock and the 150th for Class B Common Stock, highlighting the company's commitment to returning value to its shareholders.

The Hershey Company (NYSE: HSY) reported a strong performance for Q4 and full-year 2021, with net sales of $2.33 billion for Q4, up 6.4%, and $8.97 billion for the year, a 10.1% increase. Diluted EPS rose to $1.62 in Q4 and $7.11 for the full year, marking increases of 16.5% and 16.4%, respectively. The 2022 outlook projects net sales growth of 8-10% and EPS growth of 7-10%, driven by price hikes across segments despite supply chain challenges. Hershey's strategic acquisitions contributed positively, although gross margins faced pressure due to rising costs.

The Hershey Company (NYSE: HSY) has announced a transition from two reportable segments to three: North America Confectionery, North America Salty Snacks, and International. This reorganization aims to align its strong brands and markets, enhancing resource allocation and performance assessment. The changes come after December 2021 acquisitions of Dot's Pretzels, LLC and Pretzels Inc. Financial results reflecting these new segments will be provided starting with the fourth-quarter 2021 results announcement on February 3, 2022. Historical results remain unaffected.

The Hershey Company has announced the launch of two new KIT KAT® products: KIT KAT® Duos Strawberry + Dark Chocolate and KIT KAT® THiNS Chocolate Hazelnut. The Duos flavor combines strawberry and dark chocolate, inspired by chocolate-covered strawberries, and will be available in standard and king sizes. The THiNS Chocolate Hazelnut features a lighter version of the classic wafer with a new hazelnut flavor. Both products are set to become permanent items in the KIT KAT® lineup and are available at retailers nationwide.