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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 (HSY) reported a strong performance in Q4 and full-year 2020 despite challenges, with net sales increasing 5.7% to $2,185.2 million in Q4 and 2.0% to $8,149.7 million for the year. Adjusted earnings per share for Q4 rose 16.4% to $1.49, contributing to a full-year EPS of $6.29, up 8.8%. The North America segment saw notable growth, while international sales decreased by 17.3% due to COVID-19 impacts. For 2021, Hershey anticipates sales growth of 2-4% and EPS growth of 6-8%, with sustained momentum in North America.
The Whatchamacallit brand, part of The Hershey Company, is launching the new Whozeewhatzit bar, which features a peanut butter crème layer with rice crisps, all covered in chocolate. Available in February 2021, the bar comes in two sizes: standard (1.5 oz, SRP $1.11) and king size (3 oz, SRP $1.66). This new product follows a fan-naming contest that received over 43,000 entries, with Lisa M. from Framingham, Mass., winning with her suggestion. The Hershey Company continues to deliver innovative snacks, and the Whozeewhatzit bar aims to captivate both new and existing customers.
The Hershey Company will announce its fourth-quarter sales and earnings results on February 4, 2021. A conference call with analysts is scheduled for 8:30 a.m. ET that day, which will be webcast live on the Hershey corporate website. For further details, viewers can visit the 'CALENDAR OF EVENTS' section of the website. This announcement continues Hershey's routine of transparency in financial reporting and provides insights crucial for investors and analysts.
Hershey announces new product launches for Valentine's Day and Easter 2021, featuring unique twists on classic offerings. Highlights include Hershey's Kisses milk chocolate Meltaway Roses, Reese's Mallow-Top Peanut Butter Cups, and themed products like Hershey's Bear and Bunny chocolates. The launches aim to capture consumer interest during holiday seasons while introducing returning favorites. These seasonal treats will be available nationwide for a limited time, reinforcing Hershey's commitment to innovation and quality in the confectionery market.
The Hershey Company (NYSE: HSY) announced the resignation of Damien Atkins, Senior Vice President and General Counsel, effective January 31, 2021, due to family illness. He will step down from his role immediately and focus on transitioning his responsibilities. James Turoff, Vice President and Deputy General Counsel, will act as General Counsel during the search for a successor. Atkins has been with Hershey since 2018 and played a significant role in legal and corporate governance. CEO Michele Buck recognized his contributions to the company's growth.
The Hershey Company (NYSE: HSY) announced a $1.5 million investment in the Thurgood Marshall College Fund (TMCF) to establish a scholarship endowment aimed at supporting students pursuing degrees in food science. The goal is to increase this endowment to $3 million over the next decade. This significant commitment marks the first time a company has established a scholarship endowment through TMCF, focusing on underrepresented populations. Hershey's ongoing partnership with TMCF underscores its commitment to diversity and education.
Hershey has announced the launch of a new festive treat, the Holiday Sugar Cookie Blossoms, combining a sugar cookie base with the recently introduced Hershey's Kisses Sugar Cookie candy. The cookie, inspired by Pennsylvania's baking traditions, aims to enhance holiday festivities and is one of over 25 variations in the Blossoms line. Brand manager Erin Crawford emphasized the ease of making these cookies, which can help create memorable holiday moments. For more recipes, Hershey invites customers to visit their website.
The Hershey Company (NYSE: HSY) announced its quarterly dividends of $0.804 for Common Stock and $0.731 for Class B Common Stock. These dividends will be payable on December 15, 2020, to stockholders on record as of November 20, 2020. This marks the 364th consecutive regular dividend for Common Stock and the 145th consecutive regular dividend for Class B Common Stock, reflecting the company’s ongoing commitment to returning value to shareholders.
The Hershey Company (NYSE: HSY) reported a strong third quarter ending September 27, 2020, with net sales reaching $2,219.8 million, up 4% year-over-year. The company achieved a 39% increase in net income to $447.3 million, resulting in diluted EPS of $2.14. Adjusted EPS rose 15.5% to $1.86. North America segment net sales grew 6.3%, driven by price realization and volume growth. However, international sales declined 14.4%. Hershey reinstated its full-year guidance, expecting reported net sales to rise around 1% and adjusted EPS in the range of $6.18 to $6.24 for 2020.
The Hershey Company (NYSE: HSY) announced a formal review of its U.S. media agency for its candy, mint, and gum business, excluding Amplify Foods and international markets. This evaluation aims to identify partners that can enhance Hershey's internal media capabilities in the evolving media landscape. The review is invitation-only for incumbent agencies, with a decision expected in Q2 2021. The company seeks to ensure its media investments drive growth as it adapts to an omnichannel environment.
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