Welcome to our dedicated page for The Hershey Company news (Ticker: HSY), a resource for investors and traders seeking the latest updates and insights on The Hershey Company stock.
The Hershey Company, headquartered in Hershey, PA, is a global leader in the confectionery industry, renowned for delivering delicious chocolate, sweets, mints, and other snacks. Hershey has a rich legacy of over 120 years, driven by its mission of bringing goodness to the world. The company employs approximately 18,000 people globally who are dedicated to producing high-quality products every day.
With an impressive portfolio of more than 100 brands, including iconic names such as Hershey's, Reese's, Kit Kat, Jolly Rancher, and Ice Breakers, Hershey generates over $10.4 billion in annual revenues. The company's products are available in about 80 countries, though a significant portion of its sales is concentrated in North America. Hershey continues to expand its footprint in international markets such as Brazil, India, and Mexico.
Hershey is not only focused on its core confectionery business but is also diversifying into other snack categories. This includes acquisitions like Amplify Snack Brands, known for SkinnyPop, Pirate Brands, and Dot's Pretzels. These strategic moves are part of Hershey's efforts to provide a broader range of products and cater to evolving consumer preferences.
Financially, Hershey has shown robust performance, with strong net sales growth and gross margin expansion. The company has reaffirmed its sales outlook for 2024, driven by innovation and strategic investments. Hershey's recent initiatives include expanding capacity, improving supply chain efficiencies, and increasing brand investment to boost market share and meet consumer demand.
Environmental sustainability is a key focus for Hershey. The company has committed to achieving deforestation-free supply chains for key ingredients by 2025, enhanced by satellite monitoring partnerships to ensure compliance. It also engages in reforestation and forest conservation efforts, particularly in regions like Ghana and Côte d'Ivoire, to promote biodiversity and reduce greenhouse gas emissions.
Hershey continues to uphold its commitment to ethical business practices, sustainability, and community support, embodying the values set forth by its founder, Milton Hershey. The company is dedicated to making a positive impact on both a local and global scale.
The Hershey Company (NYSE: HSY) has announced two key leadership appointments effective February 3, 2025. Andrew Archambault has been named President of U.S. Confection, joining from Keurig Dr Pepper, while Veronica Villasenor, a 22-year Hershey veteran, has been appointed President of Salty Snacks.
Archambault will oversee iconic brands including Hershey's, Reese's and Jolly Rancher. He brings extensive experience from KDP, where he served as President of U.S. Refreshment Beverages. Villasenor, previously Vice President of Salty Snacks, succeeds Kristen Riggs, who is departing after 20 years. Both executives will join Hershey's Executive Committee to advance the company's snacking powerhouse vision.
The Hershey Company (NYSE: HSY) announced that Michele Buck, Chairman of the Board, President and CEO, will retire on June 30, 2026. Buck will maintain her current roles until a successor is appointed, after which she will transition to a senior advisor role until retirement. The Board has formed a special committee to search for the next CEO, considering both external and internal candidates.
Buck, who will complete 20 years with Hershey, has been credited with expanding the company into broader snacking categories, driving international growth, and building advanced capabilities. Under her leadership, Hershey developed one of the strongest snacking portfolios in the industry.
The company has reaffirmed its full-year 2024 financial outlook and will provide its 2025 outlook during its February earnings release.
The Hershey Company (NYSE: HSY) has announced its upcoming fourth-quarter financial results release and conference call, scheduled for Thursday, February 6, 2025. The company will present its Q4 sales and earnings data, followed by an analyst conference call at 8:30 a.m. ET on the same day.
The event will be accessible through a live webcast on Hershey's corporate website, specifically in the 'Calendar of Events' section of their investor relations page. This announcement ensures transparency and provides investors and analysts with direct access to the company's financial performance discussion.
The Hershey Company (NYSE: HSY) announced that Michael Del Pozzo, President of U.S. Confection, will leave the company on December 12, 2024. CEO Michele Buck will temporarily lead the U.S. Confection Business while the company searches for a successor from both internal and external candidates. Del Pozzo is returning to PepsiCo to take on a new leadership role. During this interim period, Buck will work with the U.S. Confection leadership team to drive business growth and advance Hershey's Leading Snacking Powerhouse vision.
KIT KAT has launched its first-ever seasonal shape product, KIT KAT Santas, featuring an enhanced wafer-to-chocolate ratio and festive design with imprinted boots and a smile. The -edition treats will be available nationwide in 8.85oz snack size bags. In partnership with Simon Property Group, KIT KAT will distribute free Santa-shaped bars during Santa photo sessions on December 7-8 at select locations including Roosevelt Field Mall, Woodfield Mall, and Brea Mall.
The Hershey Company (NYSE: HSY) has acquired Sour Strips, a sour candy brand founded in 2019 by social media personality Maxx Chewning. The acquisition aims to enhance Hershey's presence in the sour candy category and expand its reach to new consumers. Sour Strips, known for its "sour candy that doesn't suck" tagline and strong social media presence, will continue to have Chewning leading its marketing and innovation efforts. The brand focuses on combining shockingly sour flavors with innovative branding to elevate the candy experience.
The Hershey Company's (NYSE: HSY) Board of Directors has announced its quarterly dividend distribution. Common Stock shareholders will receive $1.370 per share, while Class B Common Stock holders will get $1.245 per share. The dividends, declared on November 6, 2024, will be paid on December 16, 2024, to stockholders of record as of November 18, 2024. This marks Hershey's 379th consecutive regular dividend on Common Stock and 160th consecutive regular dividend on Class B Common Stock.
Hershey reported Q3 2024 financial results with consolidated net sales of $2,987.5 million, a 1.4% decrease. Net income was $446.3 million, or $2.20 per share-diluted, down 12.7%. The company reduced its full-year outlook, now expecting flat net sales growth (previously ~2%) and reported earnings per share decline of 9% to 6%. Gross margin decreased 360 basis points to 41.3%, primarily due to higher commodity costs and unfavorable input cost timing. The company faces challenges from historically high cocoa prices and a challenging consumer environment, focusing on driving top-line growth through store presence, portfolio expansion, and seasonal strength.
The Hershey Company has inaugurated three public primary schools in Côte d'Ivoire, including one new construction and two renovations. The project is part of a tripartite agreement with the country's National Oversight Committee (CNS) and the International Cocoa Initiative (ICI). This initiative is part of a larger commitment to build 12 primary schools (72 classrooms) by 2025 in cocoa-producing communities. The schools are located in Gly, in the Lôh-Djiboua region, and complement Hershey's broader efforts including the Income Accelerator program for cocoa farmers and environmental preservation initiatives in the Mabi-Yaya Nature Reserve.
Hershey has announced a five-year agreement with nine cocoa-producing cooperatives in Côte d'Ivoire, as part of its 'Cocoa For Good' strategy. This strategy involves a 10-year, $500 million investment to address challenges facing cocoa farmers. The agreement aims to:
- Professionalize cocoa farming and improve profitability
- Invest in community-based resources for household wellbeing
- Preserve the environment and strengthen farm resiliency
This move aligns with Côte d'Ivoire's National Strategy for Sustainable Cocoa and builds on Hershey's previous initiatives, including the $40 million Income Accelerator program launched in 2023 and funding for primary school construction in farming communities.
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