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 announced a non-profit initiative founded by Tae, aimed at providing free academic support to students in need. This initiative was boosted by a grant from the Heartwarming Project, which helped purchase necessary books for the program. The organization is currently seeking teenage volunteers interested in contributing to their community, with applications open until December 31.
For more details about the project and Hershey's ongoing commitment to community support, visit their website.
The Hershey Company announced significant initiatives aimed at addressing global challenges, with a focus on community support during the COVID-19 pandemic. In 2021, Hershey distributed over 575,000 masks in the U.S. and provided 500 oxygen concentrators in India. The company is committed to achieving a diverse recruiting portfolio and has been recognized by Forbes as the World's Top Female Friendly Company. Hershey has set ambitious greenhouse gas reduction targets, aiming for a 50% cut in Scope 1 and 2 emissions by 2030. Furthermore, the firm's investment in cocoa communities targets child labor eradication and provides nutritious meals to children.
The Hershey Company (NYSE:HSY) has launched its first bilingual manufacturing facility in Hazleton, Pennsylvania, as part of the 'Say Hola' initiative. This program aims to integrate both Spanish and English-speaking employees, resulting in a substantial improvement in workforce experience. The initiative has led to a more skilled workforce, increased retention rates, and reduced recruitment costs, with over 90% of new recruits now possessing the desired manufacturing experience. This move aligns with Hershey's DEI (Diversity, Equity, and Inclusion) priorities while reflecting the diverse local community.
The Hershey Company (NYSE:HSY) continues to advance its climate action initiatives as announced on November 17, 2022, including a third utility-scale solar project, the Copperhead Solar & Storage Project in Texas, projected to generate $25 million in economic benefits over 25 years. Hershey aims to reduce Scope 1 and 2 emissions by 50% and Scope 3 by 25% by 2030, building on previous reductions of 48% and 18%, respectively. The company also invests $3 million in energy optimization, aiming to cut energy intensity by 10% in five years.
The Hershey Company (NYSE: HSY) announced quarterly dividends of $1.036 on Common Stock and $0.942 on Class B Common Stock. These dividends were declared on November 2, 2022, and are payable on December 15, 2022, to stockholders of record as of November 18, 2022. This marks the 372nd consecutive regular dividend on Common Stock and the 153rd for Class B Common Stock, showcasing the company's commitment to returning value to shareholders.
The Hershey Company (NYSE: HSY) reported a strong third quarter for 2022, achieving consolidated net sales of $2,728.2 million, a 15.6% increase year-over-year. Organic, constant currency sales rose 11.8%. Despite a 9.3% decline in reported net income to $399.5 million and a decrease in earnings per share to $1.94, adjusted earnings per share grew 3.3% to $2.17. The company raised its full-year sales and EPS outlook due to robust consumer demand and pricing strategies. Gross margins declined due to inflation and increased operational costs.
This Halloween, KIT KAT® introduces the first-ever Never-Ending Trick-or-Treat Bowl, designed to keep the candy flowing for eager trick-or-treaters. Located in Salem, MA, the bowl magically refills with KIT KAT® Bars, eliminating the disappointment of 'Please Take One' signs. Alex Herzog, associate brand manager, highlights the initiative as a way to bring more joy to Halloween. Fans are encouraged to share their hometown's Halloween charm on social media with a chance for the bowl to appear in their community.
The Hershey Company announced a new 'Future CEO' program on October 11, 2022, to celebrate International Day of the Girl Child and empower young women. This initiative, in partnership with Girl Up and Girls on the Run, aims to provide mentorship and support for girls aspiring to be leaders. The program will feature 10 participants from various countries, receiving scholarships and hands-on education in leadership. Hershey emphasizes its commitment to gender equity, with 48% of its workforce being women, and aims to inspire the next generation of female leaders.
Reese's University has signed 12 college football players with the last name 'Reese' to a unique NIL deal this season, featuring exclusive perks like custom gear and Reese's Football snacks. The program aims to enhance brand visibility among fans and celebrate the football season. Players will receive personalized items such as a mini locker fridge and custom blazers. Reese's Footballs are now available nationwide as a limited-time snack, tying into college football culture and Team Reese's social media engagement.
The Hershey Company (NYSE:HSY) will announce its third-quarter sales and earnings results on November 4, 2022. A conference call for analysts is scheduled for 8:30 a.m. ET on the same day, which will be accessible via a live webcast on the Hershey corporate website. Interested parties can find more information by navigating to the 'CALENDAR OF EVENTS' section. For direct access, please click here.
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