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.
Hershey has strengthened its youth development initiatives through two social impact campaigns, collaborating with nonprofit partners to empower young people. The company supported Girls on the Run and Girl Up, sponsoring 5K races and providing mentors for an alumnae program. Hershey also expanded its partnership with Memphis Music Initiative for KIT KAT's Black Music Month campaign, involving five additional creative youth development nonprofits across the U.S.
The campaign celebrated young Black creatives, connected organizations, and formed a national youth advisory council. Participating organizations included We Are Culture Creators, DC Strings, Urban Word, The Harmony Project, and Trombone Shorty Foundation. These initiatives aim to provide young people with skills for success and create meaningful collaborations that showcase their talents.
Reese's and basketball star Angel Reese have teamed up for a fan-inspired merchandise collection. The collaboration, launched on August 21, 2024, features three exclusive drops:
- Angel Reese x Reese's Pieces Logo Collection
- Angel Reese x Reese's Basketball Jersey
- Angel Reese x Reese's Cup Logo Collection
The -edition items will be available exclusively at www.theangelreese.com. This partnership, designed with Athlete Studio, aims to celebrate fans and showcase Angel Reese's unique style combined with Reese's iconic branding. The collection includes custom logos, jerseys, and various apparel items inspired by fan requests and Angel's nickname, 'The Queen'.
Hershey's Cocoa For Good program supports Village Savings and Loan Associations (VSLAs) in Côte d'Ivoire, helping local businesses grow. The PR highlights the success story of Madame Coulibaly, who joined a VSLA in 2020 and used loans up to $1,000 to expand her shop and start a profitable poultry business. VSLAs, championed by international organizations, aim to raise incomes in rural areas where formal banking is scarce.
In 2023, CARE assessed 298 VSLAs in Hershey's supply chain, identifying 200 as functioning effectively and suitable for further capability building. These initiatives support household savings, access to finance, and entrepreneurial skills, particularly benefiting women and their families.
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.