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The Hershey Company (HSY)
NYSE:HSY
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.04Last Year’s EPS
2.09Same Quarter Last Year
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall, the call balanced acknowledgment of persistent macro and category-level risks (cocoa, tariffs, SNAP waiver uncertainty, international elasticity) with several clear operational positives: strong salty/snacks momentum (18% growth in Q4 with double-digit volume growth), disciplined hedging/visibility for 2026, a planned top-line growth target of 4%–5%, a multiyear brand and R&D investment program, and guidance for meaningful margin and earnings recovery (management cited a multi-hundred basis point gross margin improvement and double-digit EPS momentum later in the year). Management reiterated flexibility and contingency plans, and highlighted concrete in-quarter upside (tariff savings, volume leverage). On balance, the upside drivers and execution updates communicated on the call outweigh the near-term headwinds, while still leaving watch points around commodity dynamics and policy-driven demand shifts.Company Guidance
2026 Top-Line Guidance
Management guided to 4%–5% net sales growth for FY2026, signaling confidence in top-line momentum across the portfolio.
Strong Salty/Snacks Performance
Salty/snacks momentum: ~18% growth in Q4 (management cited 18%), driven by double-digit volume growth; salty snacks segment expected to deliver mid-single-digit organic sales growth for the year.
Gross Margin and Earnings Recovery
Management expects meaningful margin recovery in 2026 (company referenced ~41% gross margin in 2026 in prepared remarks) and described a full‑year gross margin improvement of roughly 400 basis points versus prior year, with an inflection in profitability beginning in Q2.
Q4 Margin Outperformance Drivers
Q4 gross margin beat expectations by ~150+ basis points; biggest contributors were stronger volume/leverage and lower-than-expected supplier tariffs (partly offset by LIFO/inventory reval headwinds).
Pricing and Elasticity Framework
Company has implemented pricing (management referenced ~10% pricing in 2026 overall) and is planning for an elasticity assumption of ~0.8 while noting current elasticities have been more favorable than expected.
Hedging Position and Cocoa Outlook
Hedging program: 2026 cocoa hedges are in place and positioned above current spot levels (management noted they are hedged above current market), providing visibility for the year and some limited participation in further downside.
Brand & Innovation Momentum
Management is increasing brand investment (advertising up double digits), highlighted major campaigns for Hershey and Reese’s, ongoing hits like Reese’s Oreo, and innovation strength across brands (DOTS, SkinnyPop, Jolly Rancher) supporting household penetration and share gains.
Segment & Geographic Wins
Organic sales by segment called out: confection ~3% growth, salty mid-single digits, international down low single digits; management reported share gains in key international markets including Canada, Mexico, Brazil and the UK.
Capital Allocation Normalization
Management signaled a return to a more normal capital allocation posture: funding organic investment and dividend growth, continuing M&A integration (LessRevo noted as integrating well), and reintroducing repurchase discussions as cash flow strengthens.
HSY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HSY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $204.45 | $222.92 | +9.03% |
Oct 30, 2025 | $172.81 | $168.74 | -2.35% |
Jul 30, 2025 | $182.21 | $184.75 | +1.40% |
May 01, 2025 | $162.21 | $162.15 | -0.04% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does The Hershey Company (HSY) report earnings?
The Hershey Company (HSY) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is The Hershey Company (HSY) earnings time?
The Hershey Company (HSY) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HSY EPS forecast?
HSY EPS forecast for the fiscal quarter 2026 (Q1) is 2.04.
