The Hershey Company

The Hershey Company Earnings Recaps

HSY Consumer Staples 3 recaps
Q1 2026 May 1, 2026

Shares of Hershey fell 3.6% post-earnings, as investors appeared disappointed by ongoing deceleration in North America confectionery market share amid heightened competition and lingering concerns about guidance in light of a challenging macro backdrop.

Key takeaways
  • Management acknowledged a year-over-year decline in confectionery market share, citing earlier-than-expected competitive merchandising and innovation from both mainstream and premium brands.
  • Despite strong Easter sell-through that exceeded internal expectations, Hershey's overall category sales were impacted by a shorter season compared to last year (two fewer weeks).
  • The company maintained that the macro environment (including SNAP program changes and gas prices) is tracking within expectations, though it continues to plan for SNAP-related headwinds to increase through the year.
  • Elasticity trends remain favorable versus plan, with management reiterating a conservative stance for the remainder of the year.
  • Outlook for the second half relies on new innovation and merchandising, but the near-term competitive intensity and market share losses likely weighed on the market reaction.
Full recap
Q3 2025 Nov 1, 2025

The Hershey Company reported a solid third quarter with balanced growth across its portfolio and cautious optimism for 2026, focusing on long-term margin recovery.

Key takeaways
  • Expected revenue growth for 2026 is projected at 2% to 4%, aligning with market trends and a gradual recovery of margins.
  • Cocoa costs have moderated, and while inflation persists, Hershey remains optimistic about passing pricing through without significant elasticity concerns.
  • Double-digit growth in the everyday business over the past month indicates strong consumer demand and aligns with expectations for future performance.
  • Hershey is strategically investing in its brands to enhance competitiveness while carefully managing pricing strategies against competitors.
  • Management emphasizes a long-term view in planning, indicating room for potential upside in EPS growth.
Full recap
Q2 2025 Aug 1, 2025

Hershey Company continues to demonstrate strong momentum and sustainable growth despite recent commodity pressures, with strategic investments expected to enhance profitability under new leadership.

Key takeaways
  • Consistent reinvestment in brands and technology has driven growth and operational efficiency, with profit recovery plans on track.
  • Incoming CEO Kirk takes the helm with deep experience in consumer packaged goods, aiming to further Hershey's ambition as a leading snacking powerhouse.
  • The company anticipates favorable pricing elasticity, with strategic revenue management in place to maximize profitability despite current cost pressures.
Full recap