Hershey Reaffirms 2023 Guidance in Advance of Investor Day

Rhea-AI Summary

The Hershey Company (NYSE: HSY) has reaffirmed its financial guidance for fiscal year 2023 during its Investor Day held on March 22, 2023. The company anticipates net sales growth of 6% - 8%, reported earnings per share growth of 11% - 15%, and adjusted earnings per share growth of 9% - 11%. The event included strategic updates and a Q&A session, accessible via the company's investor website. The company also issued a safe harbor statement cautioning that actual results may vary due to various risks including supply chain issues, market competition, and international operations.

Positive

• Reaffirmed net sales growth guidance of 6% - 8% for 2023.
• Reported earnings per share growth projected at 11% - 15%.
• Adjusted earnings per share growth expected between 9% - 11%.

Negative

• Risk of supply chain disruptions affecting manufacturing and sales.
• Increased competition in the marketplace may impact growth.
• Potential impacts from geopolitical events such as the Russia-Ukraine conflict.

HERSHEY, Pa., March 22, 2023 /PRNewswire/ -- The Hershey Company (NYSE: HSY) is reaffirming its financial guidance for fiscal year 2023 in conjunction with its Investor Day, being held today in Hershey, PA. Hershey leaders will provide an update on the company's strategic plans and financial outlook, followed by a Q&A session. The meeting begins at 9 a.m. EST. To participate in the event, please visit the Investors section of the Company's corporate website at https://investors.thehersheycompany.com/en_us/home.html under Events & Webcasts. A replay of the event will also be available on the website following the event. 

2023 Full-Year Financial Outlook Summary

2023 Full-Year Outlook		Total Company
Net sales growth		6% - 8%
Reported earnings per share growth		11% - 15%
Adjusted earnings per share growth		9% - 11%

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, 2022 and from time to time in our other filings with the U.S. Securities and Exchange Commission. 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 is Hershey's sales growth projection for 2023?

Hershey projects a net sales growth of 6% - 8% for fiscal year 2023.

What earnings per share growth does Hershey expect for 2023?

The company expects reported earnings per share growth of 11% - 15% for 2023.

When was Hershey's Investor Day held?

Hershey's Investor Day was held on March 22, 2023.

What risks does Hershey mention in their press release?

Hershey highlights risks including supply chain disruptions, market competition, and geopolitical issues.

Where can I access information from Hershey's Investor Day?

Details from the Investor Day can be accessed on Hershey's corporate website under the Investors section.