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 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.
The Hershey Company has announced the nationwide launch of Lily's Sweet Fruity Gummy Bear Friends and Lily's Tart and Tasty Sour Gummy Worms, featuring no added sugar. These products cater to the growing consumer demand for healthier snack options without compromising on taste. The gummies come in various flavors, delivering less than one gram of sugar per serving. This product launch enhances the Lily's brand portfolio, acquired by Hershey in June 2021, aligning with its strategy to diversify offerings in the better-for-you snacks category.
The Board of Directors of Hershey declared quarterly dividends of $0.901 on Common Stock and $0.819 on Class B Common Stock on April 27, 2022. These dividends are payable on June 15, 2022, to stockholders of record as of May 20, 2022. This announcement marks the 370th consecutive dividend for Common Stock and the 151st consecutive dividend for Class B Common Stock, showcasing the company’s commitment to returning value to shareholders.
The Hershey Company (NYSE: HSY) reported first-quarter 2022 net sales of $2,666.2 million, up 16.1% year-over-year, driven by a robust performance in the North America Confectionery and Salty Snacks segments. Net income reached $533.5 million, or $2.57 per share-diluted, marking a 35.3% increase. The company raised its full-year outlook, anticipating net sales growth of 10-12% and adjusted EPS growth of 10-12%. However, challenges include supply chain inflation impacting profitability. The effective tax rate improved to 21.2%.
Hershey celebrates National Lover's Day by reintroducing the Reese's Peanut Butter Lovers Cups and Ultimate Peanut Butter Lovers Cups for a limited time, starting April 23. These products cater to peanut butter enthusiasts with enhanced flavors, featuring doubled peanut butter in the Ultimate version and an extra layer of peanut butter creme in the regular version. A Reese's Loves You Back promotion offers a chance to win Reese's products for a year or a lifetime by finding specially marked packages. The promotion runs until July 31, 2022.
The Hershey Company (NYSE:HSY) will announce its first-quarter sales and earnings results on April 28, 2022. A conference call for 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. For details, please visit the company's calendar of events page.
This event highlights Hershey's ongoing commitment to transparency and communication with investors as it continues to navigate the market landscape.
The Cadbury brand, operated by Hershey, has announced the top 10 finalists for the fourth-annual Cadbury Bunny Tryouts, with public voting open from March 8 to March 22, 2022. The winning pet will star in the 2022 Cadbury Clucking Bunny Easter commercial and receive a $5,000 prize. For each 5,000 votes cast, Cadbury will donate an additional $5,000 to the ASPCA, up to $20,000. The winner will be revealed on March 29, 2022, further enhancing the brand's community engagement and charitable contributions.
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