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 announced its upcoming Investor Day scheduled for March 22, 2023, from 9 - 11 a.m. ET.
This event aims to provide investors with updates on Hershey's strategic plans and financial outlook, alongside a Q&A session. Interested parties can access the event via the Investors section of Hershey's corporate website, where a replay will also be available afterward. Hershey is a leading snacks company, generating over $10 billion in annual revenues from over 100 brand names in approximately 80 countries.
The Hershey Company (NYSE: HSY) has completed the purchase of 1 million shares of its common stock from Hershey Trust Company for approximately $240 million, equating to $239.91 per share. This transaction aligns with Hershey's capital allocation strategy, emphasizing the company’s strong financial position. CFO Steve Voskuil highlighted that the strong balance sheet allows continued investments aimed at future growth. Hershey operates in the snacks sector, generating over $8.9 billion in annual revenues from its portfolio of iconic brands, including Hershey's, Reese's, and Kit Kat.
The Hershey Company (NYSE: HSY) announced on February 2, 2023, the declaration of quarterly dividends of $1.036 on Common Stock and $0.942 on Class B Common Stock. These dividends were declared on January 31, 2023, and are payable on March 15, 2023, to stockholders of record by February 17, 2023. This marks the 373rd consecutive dividend for Common Stock and the 154th for Class B Common Stock, reflecting the company’s commitment to returning value to shareholders.
The Hershey Company (NYSE: HSY) reported robust financial results for Q4 and the full year 2022, showcasing a consolidated net sales increase of 14.0% in Q4, reaching $2,652.3 million. Full-year net sales also surged by 16.1% to $10,419.3 million. Q4 reported net income climbed 18.5% to $396.3 million, equating to $1.92 per share-diluted. The company anticipates a net sales growth of 6% to 8% for 2023, with projected reported EPS growth between 11% and 15%. Additionally, Hershey's investments in capacity and capabilities position it for sustained growth despite inflation and supply chain challenges.
The Hershey Company (NYSE: HSY) will announce its fourth-quarter sales and earnings results on February 2, 2023. A conference call for analysts is scheduled at 8:30 a.m. ET on the same day. This call will be accessible via a live webcast on the Hershey corporate website. For more details, please visit the calendar of events.
The Hershey Company has awarded Action Grants as part of its 2021 Heartwarming Project to Oak Lawn-Hometown Middle School students. These grants enable local teens to support children at their nearby hospital, fostering community engagement and connections. The deadline for new applications is December 31, 2022. The initiative aims to empower young individuals to create positive changes within their communities. More information can be found on the Hershey website.
The Hershey Company announces a Heartwarming Project Action Grant that supports community initiatives. Noel, a student volunteer, used the $250 grant to create 'thank you' baskets for local veterans. This initiative encourages teens to engage in community support. Interested participants can apply for the grant until December 31, 2022, to foster community strength.
FAQ
What is the current stock price of The Hershey Company (HSY)?
What is the market cap of The Hershey Company (HSY)?
What products does The Hershey Company produce?
Where is The Hershey Company headquartered?
How many employees does Hershey have?
What are some key markets for Hershey?
What recent acquisitions has Hershey made?
How is Hershey addressing environmental sustainability?
What financial outlook has Hershey provided for 2024?
How does Hershey support its communities?
What role does innovation play at Hershey?
How important are international markets to Hershey?
