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 has successfully finalized its acquisition of Dot's Pretzels and Pretzels Inc. for a total price of $1.2 billion, netting approximately $1 billion after anticipated tax benefits. This strategic move strengthens Hershey's position in the snacking sector by adding the fastest-growing pretzel brand, accounting for 55% of the pretzel category's growth over the past year. The integration will proceed in phases to foster growth in both brands.
The Hershey Company has launched a festive collaboration with Dr. Seuss's The Grinch for the holiday season. From November 30 to December 8, customers can engage in the '#GrinchKisses' sweepstakes on social media for a chance to win Hershey's Kisses chocolates featuring Grinch-themed foils. The limited-edition Kisses, with 10 unique candy foils, celebrate the beloved character's mischievous spirit. Hershey's Chocolate World locations will host special holiday decorations and activities throughout the season, emphasizing the partnership's aim to spread holiday cheer.
The Hershey Company has launched a new Reese's Thanksgiving Pie, touted as the largest Reese's Peanut Butter Cup ever sold, measuring 9 inches in diameter and weighing 3.25 pounds. Available for $44.99, there are only 3,000 pies, emphasizing exclusivity ahead of the holiday season. This offering combines the classic flavors of chocolate and peanut butter in a unique format designed to elevate Thanksgiving desserts. Hershey is known for its extensive portfolio with over 90 brands generating more than $8.1 billion in annual revenue.
The Hershey Company (NYSE: HSY) has announced a definitive agreement to acquire Dot's Pretzels LLC, a leading brand in the pretzel market, and Pretzels Inc., a co-manufacturer. The total acquisition cost is approximately $1.2 billion. Dot's Pretzels, which alone accounts for 55% of the pretzel category's growth, complements Hershey's salty snack portfolio and aims to boost its market presence. The acquisitions are expected to enhance manufacturing capabilities and are projected to be slightly accretive to earnings per share in 2023 and adjusted earnings per share in 2022.
Hershey's has launched its first-ever Holiday Baking Shapes, featuring red and green white creme chips in festive stocking and tree shapes, aimed at enhancing holiday baking. Available for a limited time this season, these shapes are designed for various baking uses. To promote the new product, Hershey has partnered with Hallmark Channel for a holiday baking contest, allowing fans to win a walk-on role in a Hallmark movie or a $5,000 prize. Additional resources include a special holiday cookbook with recipes for consumers to try.
The Hershey Company announces the launch of the Reese's Super King, a new candy product featuring a 12-inch ruler filled with six classic peanut butter cups. Set to be available in November 2021 at select stores nationwide, this product aims to enhance sharing opportunities for fans. Senior manager Allen Dark emphasizes the importance of giving customers more of their favorite treats. Hershey continues to focus on innovation, driven by its commitment to customer satisfaction and increasing market presence in the snacks industry.
The Hershey Company (NYSE: HSY) announced quarterly dividends of $0.901 on Common Stock and $0.819 on Class B Common Stock, declared on October 27, 2021. These dividends are scheduled for payment on December 15, 2021, to stockholders of record as of November 19, 2021. This marks the 368th consecutive dividend for Common Stock and the 149th for Class B Common Stock, demonstrating the company's commitment to returning income to shareholders.
The Hershey Company (HSY) announced its Q3 2021 results, reporting net sales of $2,359.8 million, a 6.3% increase year-over-year. Adjusted EPS rose by 12.9% to $2.10. The company raised its full-year sales growth outlook to 8%-9% and EPS guidance to $6.88-$7.04, reflecting strong consumer demand and an improved tax outlook. However, gross margin decreased to 45.0% due to supply chain issues and higher costs. The effective tax rate fell to 14.7%, aided by capital loss utilization. Despite challenges, Hershey's strategic investments and acquisitions are expected to drive long-term growth.
The KIT KAT® brand has introduced a unique four-person Halloween costume, designed to enhance group costume experiences. This seven-foot tall costume, resembling a KIT KAT® bar, was recognized as the “Most Creative 4-Person Costume of 2021” by the Halloween & Costume Association. Created for fun and interaction, it encourages friends to wear it together and break it apart, embodying the brand's playful spirit. Consumers can participate in a contest to win this exclusive costume by tagging friends on their social media channels. The promotional campaign runs from October 25 to October 27, 2021.
The Hershey Company (NYSE:HSY) will release its third-quarter sales and earnings results on October 28, 2021. A conference call with analysts is scheduled for 8:30 a.m. ET on the same day. The company will also webcast the conference call live on its corporate website. For more details, visit the 'CALENDAR OF EVENTS' section on Hershey's investor relations page.
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