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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 has announced the launch of Reese's Big Cup Stuffed with Reese's Puffs cereal, set to hit stores nationwide in November 2022. This innovative product combines the classic flavors of Reese's chocolate and peanut butter with the popular Reese's Puffs cereal, creating a unique snacking experience. Senior associate brand manager Henry Hancock stated the collaboration elevates the Reese's fandom to a new level. With over $8.9 billion in annual revenue, Hershey continues to expand its portfolio, appealing to chocolate lovers and opening avenues for further product innovations.
The Hershey Company (NYSE: HSY) has appointed Marlene Creighton as the new Global Chief Sales Officer, effective September 5, 2022. She succeeds Phil Stanley, who served in the role for 26 years. Creighton, who has over 20 years of experience in consumer packaged goods, aims to enhance relationships with retail partners and drive growth. Hershey, known for its iconic brands and snacks, generates over $8.9 billion in annual revenue, employing approximately 19,000 people worldwide.
The Hershey Company (NYSE: HSY) has received the prestigious Great Place to Work Certification™ for its U.S. operations, reflecting the positive feedback from its employees. Key strengths identified include justice, pride, and leadership. This certification, based on employee surveys, underscores Hershey's commitment to fostering a positive work environment. Initiatives include increased parental leave to 20 weeks in 2023 and an enterprise-wide career development program launched in 2022. The company emphasizes inclusivity and equitable workplace practices, further enhancing its employee experience.
The Hershey Company (NYSE: HSY) has declared quarterly dividends of $1.036 on Common Stock and $0.942 on Class B Common Stock, marking a 15% increase from previous payouts. These dividends, announced on July 27, 2022, are payable on September 15, 2022, to stockholders of record by August 19, 2022. This announcement signifies the 371st consecutive dividend for Common Stock and the 152nd consecutive dividend for Class B shares, reflecting the company's ongoing commitment to returning value to shareholders.
The Hershey Company (NYSE: HSY) reported a strong second quarter for 2022, with net sales of $2,372.6 million, reflecting a 19.3% increase. Organic sales rose 14.1%, and adjusted EPS increased by 22.4% to $1.80. The company raised its full-year outlook, anticipating net sales growth of 12-14% due to robust consumer demand and price adjustments. However, gross margins decreased to 42.1%, primarily due to rising supply chain costs. Hershey's focus on brand investment and operational efficiency aims to sustain this momentum into 2023.
The Hershey Company (NYSE:HSY) will announce its second-quarter sales and earnings results on July 28, 2022. A conference call with analysts is scheduled for 8:30 a.m. ET on the same day, which will be accessible via a live webcast on the Hershey corporate website. Stakeholders can find more information on the webcast by visiting the company's calendar of events.
The Hershey Company (NYSE: HSY) has donated the historic Hershey Theatre to The M.S. Hershey Foundation. Located in Hershey, Pennsylvania, the theatre has been a cultural landmark since its opening in 1933. Michele Buck, CEO of Hershey, emphasized the donation as a continuation of Milton Hershey's legacy. The M.S. Hershey Foundation, which has operated the theatre since 1970, aims to enhance educational and cultural opportunities in the community. Hershey is renowned for its iconic snack brands and has reported over $8.9 billion in annual revenues.
Hershey's has partnered with Pandora to launch custom #SmoresLife mixtapes designed to enhance summer s'mores experiences. The mixtapes, featuring various music genres, will refresh throughout the summer, encouraging families to create memorable moments while enjoying this classic treat. This collaboration aims to blend the joy of music with s'more-making, highlighting the nostalgic feelings associated with this popular snack. Hershey's continues its commitment to delivering quality products and fostering community engagement through creative partnerships.
The Hershey Company has renewed its partnership with Team USA, committing support for the Olympic and Paralympic Games from 2024 to 2028, including the LA28 Games. As the first domestic food partner, Hershey aims to enhance the experience for athletes and fans. The collaboration will build on previous support since 2015 and utilize NBCUniversal's media platforms through 2028. Hershey's commitment reflects its dedication to U.S. athletes and aligns with its brand ethos.
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