Hershey Co.
Hershey Reports Third-Quarter 2024 Earnings Miss and Lowers Full-Year Guidance
Summary
On November 7, 2024, The Hershey Company announced a decrease in third-quarter net sales and net income, reporting a net sales decline of 1.4% and a net income decrease of 12.7% compared to the same period in 2023. The company also updated its 2024 full-year financial outlook, lowering expectations for net sales growth, reported earnings per share, and adjusted earnings per share due to historically high cocoa prices and a challenging consumer environment. The press release furnished as Exhibit 99.1 provides detailed financial results and updated outlook.
Profitelligence Alerts
Get alerts for HSY
Be first to know when Hershey Co. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Hershey Co.
Hershey Co. is a leading confectionery manufacturer primarily known for its production of chocolate and sweets. Founded in 1894 and headquartered in Hershey, Pennsylvania, the company is an iconic name in the food and beverage industry. Its primary function is to create and distribute renowned chocolate products and other confectioneries, such as Hershey's Chocolate Bars, Reese's Peanut Butter Cups, and Kit Kat Bars. Hershey Co. also diversifies its offerings with non-chocolate items, snacks, and bakery products. The company’s operations significantly impact the food production and retail industries, supplying products to a vast array of outlets including supermarkets, convenience stores, and international markets. Hershey Co. plays a crucial role in the global confectionery landscape, leveraging strong brand recognition and consumer loyalty. In the financial market, Hershey Co. is valued for its stable revenue streams and consistent market presence. It has a legacy of innovation in product development and marketing strategies, contributing to its enduring appeal and robust performance. The company's financial strength and market adaptability make it a key player in the consumer goods sector.
Official SEC Documents
Advertisement