The earnings call reflects a balanced outlook with significant highlights in innovation and pricing strategy, and optimism about potential tariff relief. However, ongoing challenges with cocoa inflation, tariffs, and a high tax rate present notable risks. Overall, the sentiment is cautiously optimistic but tempered by these challenges.

Company Guidance -

Q3 2025

In the Hershey Company's second-quarter 2025 call, guidance focused on several key metrics and strategic initiatives. The company anticipates a mid-teens impact from recent pricing actions, with 80% of the profit benefit expected to materialize in 2026, and is aiming for algorithmic earnings growth next year. Hershey's strategic revenue management team projects slightly more favorable elasticities than historical data due to diverse product pricing strategies. The company is also leveraging investments in technology, AI, and ERP systems for operational efficiencies which, alongside new price increases, are expected to support a 500 basis point or more gross margin expansion in 2026. Despite current cocoa and tariff challenges, Hershey remains optimistic about its pricing strategy and operational adjustments, aiming to align with its long-term growth ambitions. Additionally, innovation and strategic product launches are set to enhance category growth, particularly in salty snacks and confectionery, amidst broader initiatives to optimize supply chain efficiencies in response to tariffs.

Top Line Momentum and Profit Recovery Plans

Hershey has seen top line momentum on their business and has their profit recovery plans well underway, indicating a positive outlook for sustainable growth.

Successful Pricing Strategy

Hershey's pricing strategy is yielding results with elasticities being more favorable than historical norms, contributing positively to their financial performance.

Strong Innovation and Consumer Engagement

The company has seen significant consumer response to innovation, with investments in new ERP platforms, AI, and tech-enabled capabilities driving efficiency.

Optimism in Tariff Exemption for Cocoa

Hershey is optimistic about potential cocoa tariff exemption from the government, which would positively impact their cost structure.

Positive Performance in Salty Snacks Segment

Dot's and SkinnyPop have shown strong performance, indicating successful penetration and distribution in the salty snacks category.

Increased Shelf Space and Innovation Success

Hershey has seen success in nonseasonal portfolio growth with increased shelf space and innovation in instant consumables.

The Hershey Company (HSY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HSY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2025 (Q3)	1.12 / -	2.34	―	―	―
Jul 30, 2025	2025 (Q2)	0.99 / 1.21	1.27	-4.72% (-0.06)	―
May 01, 2025	2025 (Q1)	1.94 / 2.09	3.07	-31.92% (-0.98)	―
Feb 06, 2025	2024 (Q4)	2.37 / 2.69	2.02	33.17% (+0.67)	―
Nov 07, 2024	2024 (Q3)	2.56 / 2.34	2.6	-10.00% (-0.26)	―
Aug 01, 2024	2024 (Q2)	1.44 / 1.27	2.01	-36.82% (-0.74)	―
May 03, 2024	2024 (Q1)	2.76 / 3.07	2.96	3.72% (+0.11)	―
Feb 08, 2024	2023 (Q4)	1.95 / 2.02	2.02	0.00% (0.00)	―
Oct 26, 2023	2023 (Q3)	2.46 / 2.60	2.17	19.82% (+0.43)	―
Jul 27, 2023	2023 (Q2)	1.91 / 2.01	1.8	11.67% (+0.21)	―

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
Jul 30, 2025	$186.23	$188.83	+1.40%
May 01, 2025	$165.79	$165.73	-0.04%
Feb 06, 2025	$143.46	$149.78	+4.41%
Nov 07, 2024	$172.45	$168.58	-2.24%

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.