Welcome to our dedicated page for Hershey Co news (Ticker: HSY), a resource for investors and traders seeking the latest updates and insights on Hershey Co stock.
The Hershey Company (NYSE: HSY) regularly issues news and updates that reflect its role as a snacks manufacturer with a broad portfolio of chocolate, sweets and salty snack brands. Company press releases cover topics ranging from product launches and seasonal offerings to acquisitions, financial results and corporate governance developments.
On the product side, Hershey’s news highlights new confectionery items and collaborations, such as Shaq-A-Licious XL Gummies and Shaq-A-Licious SLAMS created with Shaquille O’Neal, limited-edition treats like the Hershey’s Dubai-Inspired Chocolate Bar, and seasonal products and beverages available at HERSHEY'S CHOCOLATE WORLD attractions. These announcements illustrate how the company extends its core brands into new flavors, textures and experiential formats.
Hershey also uses news releases to communicate portfolio expansion and strategy. For example, it has announced the completion of the acquisition of LesserEvil, adding an organic, better-for-you snack brand to its salty snacks lineup. Other releases describe growth in salty snacks and non-chocolate confectionery, as well as the role of convenience stores and experiential venues in introducing new products to consumers.
For investors, Hershey’s news feed includes notices about quarterly earnings releases and webcasts, third‑quarter and other financial results, and regular dividend declarations on its Common Stock and Class B Common Stock. The company also reports on changes in board and executive leadership, updates to by‑laws and the establishment of new credit facilities through SEC filings and corresponding announcements.
Following HSY news allows readers to track new product introductions, strategic acquisitions, financial performance disclosures and governance updates in one place. This page aggregates those announcements so users can review the company’s latest activities and longer-term trends across its confectionery and salty snacks businesses.
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.
Hershey (NYSE: HSY) has released its 2023 Environmental, Social, and Governance (ESG) Report, detailing progress and future ambitions across six sustainability priorities: cocoa, responsible sourcing, environment, people, youth, and community. Key achievements include the launch of the Hershey Income Accelerator Program, investments in children's education, and a new human rights framework. Hershey also reported significant strides in climate action, achieving a 43% reduction in Scope 1 and 2 greenhouse gas emissions since 2018, and reducing packaging waste by over 1.7 million pounds in 2023. Additionally, Hershey has made efforts to foster workplace innovation and growth, including a new leadership development program and initiatives to increase veteran hiring. The company aims to drive long-term business resilience and sustainability through these actions.
The Hershey Company celebrates women in manufacturing, highlighting their important roles from entry-level to leadership positions. Across the U.S., women represent about one-third of the manufacturing workforce, with Hershey actively promoting gender diversity. Nicole Henderson, Megan Isais, and Mary Leslie share their experiences, emphasizing the importance of mentorship, work-life balance, and the rewarding nature of manufacturing careers. Additionally, Hershey India achieved a significant milestone by integrating 100 women into its Mandideep plant within a year. Hershey remains committed to fostering an inclusive and empowering workplace.
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