The earnings call reflects a positive sentiment with strong performance in key segments, effective innovation strategies, and a clear path for margin recovery. However, challenges remain due to high cocoa prices and tariffs, which could impact future profitability.

Company Guidance -

Q3 2025

During the call, The Hershey Company provided guidance with several key metrics and expectations for the future. They announced a mid-teens impact from pricing adjustments, expected to significantly contribute to 2026's gross margin recovery, with 80% of the profit benefit realized in 2026 and some continuing into 2027. The expectation for elasticity was roughly 1:1 on new pricing, which is slightly more favorable than historical trends. They anticipate a 500 basis point or more expansion in gross margin before considering potential impacts from cocoa costs and tariffs. Despite the challenging cocoa market, the company remains optimistic, noting improvements in cocoa supply dynamics and a potential tariff exemption on cocoa. Hershey's 2026 outlook suggests on-algorithm earnings growth, with potential for higher growth if cocoa prices decrease or tariff exemptions are secured. The company plans to continue investing in brands and innovation to sustain growth, with a focus on maintaining competitive pricing and value.

Profit Recovery Plans and Margin Expansion

Hershey has implemented profit recovery plans and anticipates 500 basis points or more of gross margin expansion in 2026, supported by pricing and other initiatives.

Strong Performance in Salty Snacks

Dot's and SkinnyPop brands have shown strength, delivering above-category trends due to strategic marketing, innovation, and expanded distribution.

Supportive Innovation and Marketing Initiatives

The company is executing strong innovation and marketing initiatives, including launching Reese's peanut butter filled pretzels and leveraging partnerships like the Jennifer Aniston program for SkinnyPop.

Positive Outlook for Halloween and Seasonal Products

Hershey is optimistic about another strong Halloween season with early shipments and innovative consumer engagement strategies.

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)	1.07 / -	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	$184.81	$187.39	+1.40%
May 01, 2025	$164.53	$164.47	-0.04%
Feb 06, 2025	$142.38	$148.64	+4.40%
Nov 07, 2024	$171.14	$167.30	-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.