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.
At the 2022 CAGNY conference, Hershey's CEO Michele Buck and CFO Steven Voskuil outlined the company's strategic growth plans for 2022. They reaffirmed the prior earnings expectations, forecasting net sales growth of 8-10% and reported earnings per share growth of 7-10%. Adjusted earnings per share are anticipated to increase by 9-11%. The acquisitions of Pretzels, Dot's, and Lily's are expected to positively impact net sales growth by 3-4 percentage points for the year.
The Hershey Company (NYSE: HSY) announced the purchase of one million shares of its common stock from Hershey Trust Company for approximately $203 million, at a price of $203.35 per share. This buyback aligns with Hershey's capital allocation strategy and stock replenishment program, highlighting the company's commitment to shareholder value. CFO Steve Voskuil expressed that the strong balance sheet allows continued investment flexibility for future growth. Hershey has a robust portfolio of over 90 brands generating more than $8.1 billion in annual revenues.
The Hershey Company (NYSE: HSY) has declared quarterly dividends of $0.901 for Common Stock and $0.819 for Class B Common Stock, as announced on February 2, 2022. These dividends are set to be paid on March 15, 2022 to stockholders of record by February 18, 2022. This marks the 369th consecutive regular dividend for Common Stock and the 150th for Class B Common Stock, highlighting the company's commitment to returning value to its shareholders.
The Hershey Company (NYSE: HSY) reported a strong performance for Q4 and full-year 2021, with net sales of $2.33 billion for Q4, up 6.4%, and $8.97 billion for the year, a 10.1% increase. Diluted EPS rose to $1.62 in Q4 and $7.11 for the full year, marking increases of 16.5% and 16.4%, respectively. The 2022 outlook projects net sales growth of 8-10% and EPS growth of 7-10%, driven by price hikes across segments despite supply chain challenges. Hershey's strategic acquisitions contributed positively, although gross margins faced pressure due to rising costs.
The Hershey Company (NYSE: HSY) has announced a transition from two reportable segments to three: North America Confectionery, North America Salty Snacks, and International. This reorganization aims to align its strong brands and markets, enhancing resource allocation and performance assessment. The changes come after December 2021 acquisitions of Dot's Pretzels, LLC and Pretzels Inc. Financial results reflecting these new segments will be provided starting with the fourth-quarter 2021 results announcement on February 3, 2022. Historical results remain unaffected.
The Hershey Company has announced the launch of two new KIT KAT® products: KIT KAT® Duos Strawberry + Dark Chocolate and KIT KAT® THiNS Chocolate Hazelnut. The Duos flavor combines strawberry and dark chocolate, inspired by chocolate-covered strawberries, and will be available in standard and king sizes. The THiNS Chocolate Hazelnut features a lighter version of the classic wafer with a new hazelnut flavor. Both products are set to become permanent items in the KIT KAT® lineup and are available at retailers nationwide.
The Hershey Company (NYSE:HSY) will announce its fourth-quarter sales and earnings results on February 3, 2022. Following the release, a conference call with analysts is scheduled for 8:30 a.m. ET on the same day. The call will be accessible via a live webcast on the Hershey corporate website. For more details, please visit the Hershey events page.
Hershey is launching new seasonal treats for Valentine's Day and Easter in 2022, featuring innovative products like Reese's Blossom-top Miniature Cups and Hershey's Kisses with vanilla frosting. Valentine's Day favorites such as Reese's Peanut Butter Hearts and Hershey's Kisses Meltaway Roses are returning. For Easter, the company introduces whimsical treats like Hershey's Cookies 'N' Creme Polka Dot Bunnies and Whoppers Bunny Tails.
These offerings highlight Hershey's commitment to creativity and seasonal engagement.
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