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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 KIT KAT® Brand has launched the Flavor Club Sweepstakes, allowing 200 fans to taste new flavors before their public release. Open from Sept. 21 to Sept. 29, 2020, entrants can win membership to receive exclusive tasting kits. The first kit will feature the anticipated KIT KAT® DUOS mocha + chocolate flavor, set to hit shelves in November. The initiative aims to gather consumer feedback to influence future flavor innovations. The program represents Hershey's commitment to engaging its customer base and enhancing product development.
Hershey has announced its new holiday product lineup featuring innovative treats from popular brands like HERSHEY'S, REESE'S, KIT KAT®, and ICE BREAKERS, set for nationwide release in October 2020. The offerings include HERSHEY'S KISSES Sugar Cookie candy, Milk Chocolate Build-A-Santa, Peanut Butter Nutcrackers, and KIT KAT® DUOS Mint + Dark Chocolate. The release marks one of the largest holiday collections the company has created, aiming to enhance holiday festivities with unique flavors and interactive products.
Hershey announces the launch of Reese’s Snack Cakes, a new morning treat combining chocolate and peanut butter creme. Set to hit convenience stores in December 2020, these 2.75oz cakes will retail for $1.99 per pack. This innovation targets the growing trend of consuming dessert before noon, appealing to the 83% of adults who indulge in morning desserts. Brand manager Mike Orr emphasizes that this product allows Reese’s fans to enjoy cake any time of day, officially redefining the concept of a morning snack.
The Hershey Company (NYSE: HSY) appointed Robert M. Dutkowsky to its Board of Directors, effective Aug. 29, 2020. Dutkowsky, 65, is a former executive chairman and CEO of Tech Data and will serve on the Finance, Risk Management, and Governance Committees. CEO Michele Buck expressed confidence in his growth-oriented leadership and expertise in technology and digital capabilities. With a career beginning at IBM, Dutkowsky brings extensive experience from executive roles in various tech companies. Hershey operates with over 80 brands, generating around $8 billion in annual revenue.
The KIT KAT® brand, owned by Hershey, is expanding its DUOS line with the launch of KIT KAT® DUOS MOCHA + CHOCOLATE in November 2020. Following the success of the Mint + Dark Chocolate variant, this new flavor features mocha flavored crème atop the classic wafer, promising a unique taste experience. Available in standard (1.5 oz, SRP $1.11) and king size (3 oz, SRP $1.66) bars, the introduction underscores KIT KAT's commitment to flavor innovation. Consumers can look forward to this permanent addition to the brand's portfolio.
The Hershey Company (NYSE: HSY) announced a quarterly dividend increase of approximately 4%, raising the Common Stock dividend to $0.804 and Class B Common Stock dividend to $0.731 per share. These dividends are payable on September 15, 2020, to stockholders of record as of August 21, 2020. This marks the 363rd consecutive dividend declaration for Common Stock and the 144th for Class B Common Stock, reflecting the company's commitment to returning value to its shareholders.
The Hershey Company (NYSE: HSY) reported net sales of $1.707 billion for Q2 2020, a 3.4% decline year-over-year. Net income dropped to $268.9 million, or $1.29 per diluted share, reflecting a 12.8% decrease. Adjusted earnings per share remained flat at $1.31. The company gained 225 basis points in market share in North America despite COVID-19 challenges, and anticipates accelerated sales growth in the latter half of 2020. However, guidance for full-year 2020 remains unclear due to ongoing pandemic impacts.
The Hershey Company (NYSE: HSY) will release its second-quarter 2020 financial results on July 23, 2020, at approximately 7:00 a.m. ET. This will be followed by a live Q&A session with analysts at 8:30 a.m. ET. To facilitate discussions, a pre-recorded management discussion and transcript will also be available. Key materials will be posted on the company's investor relations website, providing investors with insights into the company's performance for the quarter.
The Hershey Company has priced its offering of $1 billion in notes, including $300 million of 0.900% due 2025, $350 million of 1.700% due 2030, and $350 million of 2.650% due 2050. The proceeds will be used to repay commercial paper and cover offering expenses. The registration statement for the offering is effective. Hershey, known for its iconic brands, is committed to ethical operations and sustainability, employing around 16,000 people worldwide and generating approximately $8 billion in annual revenue.
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