Hershey Presents at 2024 CAGNY Conference; Reaffirms Earnings Outlook for 2024

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Hershey Company presents growth strategies at CAGNY conference, reaffirms 2024 financial outlook. Net sales growth expected at 2-3%, flat earnings per share. Access presentation on corporate website.

HERSHEY, Pa., Feb. 20, 2024  /PRNewswire/ -- In a presentation today at the 2024 Consumer Analyst Group of New York (CAGNY) conference, Michele G. Buck, Chairman, President and Chief Executive Officer, and Steven E. Voskuil, Senior Vice President and Chief Financial Officer, The Hershey Company (NYSE: HSY), will review strategies to drive sustainable, profitable growth and long-term shareholder value.

The Company reaffirms its full-year 2024 financial expectations for net sales and earnings per share-diluted previously provided in its February 8, 2024, earnings release. 

2024 Full-Year Outlook		Total Company
Net sales growth		2% - 3%
Reported earnings per share growth		Flat
Adjusted earnings per share growth		Flat

The company's CAGNY presentation and accompanying slides can be accessed in the "CALENDAR OF EVENTS" section of the corporate website. (https://www.thehersheycompany.com/en_us/investors/events-reports-releases/calendar-of-events.html).

Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many of these forward-looking statements can be identified by the use of words such as "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would," among others. These statements are made based upon current expectations that are subject to risk and uncertainty. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the company's securities. Factors that could cause results to differ materially include, but are not limited to: disruptions or inefficiencies in our supply chain due to the loss or disruption of essential manufacturing or supply elements or other factors; issues or concerns related to the quality and safety of our products, ingredients or packaging, human and workplace rights, and other environmental, social or governance matters; changes in raw material and other costs, along with the availability of adequate supplies of raw materials; the company's ability to successfully execute business continuity plans to address changes in consumer preferences and the broader economic and operating environment; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions, including with respect to inflation, rising interest rates, slower growth or recession, and other events beyond our control such as the impacts on the business arising from the conflict between Russia and Ukraine; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure and that of our customers and partners (including our suppliers); our ability to hire, engage and retain a talented global workforce, our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year ended December 31, 2023. All information in this release is as of February 20, 2024.  The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

 

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SOURCE The Hershey Company

FAQ

What are The Hershey Company's financial expectations for 2024?

The Hershey Company expects 2-3% net sales growth and flat earnings per share for 2024.

Where can I access The Hershey Company's CAGNY presentation?

You can access The Hershey Company's CAGNY presentation and slides on the corporate website under the 'CALENDAR OF EVENTS' section.