Hershey Company (The) (HSY) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.43

$1.37$1.62

vs $1.21+18.2%

18 analysts

Next Qtr

$2.29

$2.12$2.41

vs $1.30+76.1%

18 analysts

Current Yr

$8.43

$8.20$8.59

vs $6.31+33.6%

23 analysts

Next Yr

$9.92

$9.30$10.47

vs $8.43+17.7%

23 analysts

Revenue Estimates

Current Qtr

$2.64B

$2.61B$2.67B

vs $2.61B+1.1%

15 analysts

Next Qtr

$3.32B

$3.29B$3.37B

vs $3.18B+4.5%

15 analysts

Current Yr

$12.25B

$12.17B$12.33B

vs $11.69B+4.8%

22 analysts

Next Yr

$12.59B

$12.44B$12.84B

vs $12.25B+2.8%

22 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for HSY on EDGAR.

HSY filing events and research context
Filed	Item	Context
Apr 30, 2026	mda_quarterly	The Hershey Company operates as the largest chocolate producer in North America, managing over 85 brands across 65 countries with a portfolio including chocolate, non-chocolate confectionery, gum, mints, and protein bars. In November 2025, the company expanded its snack capabilities and manufacturing capacity through the acquisition of LesserEvil, LLC, integrating organic popcorn and puffed snack products into its U.S. and Canadian markets. For the first quarter of 2026, Hershey reported net sales growth and positive consumer sentiment. However, financial performance remains pressured by a volatile macroeconomic environment and elevated manufacturing and supply costs. A primary operational risk is the price volatility of exchange-traded commodities, specifically cocoa products, though these prices showed improvement during the first three months of 2026.
Feb 17, 2026	mda	Hershey operates through three reportable segments: North America Confectionery, North America Salty Snacks, and International, with the latter contributing 12.3% of 2025 net sales. The company is aggressively expanding its snacking footprint through strategic acquisitions, including LesserEvil, Sour Strips, and Weaver Popcorn. A primary financial headwind is the extreme volatility of cocoa prices, which led to $491 million in unfavorable mark-to-market activity on commodity derivatives in 2025. To mitigate these input costs and improve operational efficiency, management is executing the Advancing Agility & Automation (AAA) Initiative, a multi-year productivity program launched in February 2024. Significant customer concentration risk is present, as McLane Company, Inc. accounted for 27% of consolidated net sales in 2025. Other material risks include the ongoing post-implementation stabilization of a new global ERP system deployed in April 2024 and upcoming compliance requirements for the European Union’s Deforestation Regulation (EUDR) effective December 2026. To protect margins against inflation and raw material spikes, Hershey continues to employ a strategy of list price increases and product weight adjustments.
Feb 17, 2026	risk_factors	Hershey faces significant margin compression, evidenced by a 60.2% decline in 2025 net income despite a 4.4% increase in net sales to $11.7 billion. The primary financial headwinds are extreme commodity price volatility, particularly for cocoa, and rising supply chain costs driven by U.S. import tariffs and retaliatory measures involving Canada and Mexico. Regulatory risks are intensifying due to the "Make America Healthy Again" movement and FDA mandates to phase out petroleum-based synthetic dyes, prompting the company to remove all certified Food, Drug & Cosmetic colors by 2027. While the North America Salty Snacks segment shows growth through brands like Dot’s Homestyle Pretzels, SkinnyPop, and the recent acquisition of LesserEvil, the core North America Confectionery segment is experiencing volume declines due to price elasticity. Internationally, operations in Brazil and Mexico are pressured by unfavorable foreign currency exchange rates and higher manufacturing costs. To mitigate these pressures, Hershey is implementing the Advancing Agility & Automation (AAA) initiative to optimize supply chain spend and SG&A expenses. Additionally, the company is managing a $5.4 billion debt load and navigating a complex equity structure controlled by the Hershey Trust Company.

Filed

Item

Context

Apr 30, 2026

mda_quarterly

The Hershey Company operates as the largest chocolate producer in North America, managing over 85 brands across 65 countries with a portfolio including chocolate, non-chocolate confectionery, gum, mints, and protein bars. In November 2025, the company expanded its snack capabilities and manufacturing capacity through the acquisition of LesserEvil, LLC, integrating organic popcorn and puffed snack products into its U.S. and Canadian markets. For the first quarter of 2026, Hershey reported net sales growth and positive consumer sentiment. However, financial performance remains pressured by a volatile macroeconomic environment and elevated manufacturing and supply costs. A primary operational risk is the price volatility of exchange-traded commodities, specifically cocoa products, though these prices showed improvement during the first three months of 2026.

Feb 17, 2026

mda

Hershey operates through three reportable segments: North America Confectionery, North America Salty Snacks, and International, with the latter contributing 12.3% of 2025 net sales. The company is aggressively expanding its snacking footprint through strategic acquisitions, including LesserEvil, Sour Strips, and Weaver Popcorn. A primary financial headwind is the extreme volatility of cocoa prices, which led to $491 million in unfavorable mark-to-market activity on commodity derivatives in 2025. To mitigate these input costs and improve operational efficiency, management is executing the Advancing Agility & Automation (AAA) Initiative, a multi-year productivity program launched in February 2024. Significant customer concentration risk is present, as McLane Company, Inc. accounted for 27% of consolidated net sales in 2025. Other material risks include the ongoing post-implementation stabilization of a new global ERP system deployed in April 2024 and upcoming compliance requirements for the European Union’s Deforestation Regulation (EUDR) effective December 2026. To protect margins against inflation and raw material spikes, Hershey continues to employ a strategy of list price increases and product weight adjustments.

Feb 17, 2026

risk_factors

Hershey faces significant margin compression, evidenced by a 60.2% decline in 2025 net income despite a 4.4% increase in net sales to $11.7 billion. The primary financial headwinds are extreme commodity price volatility, particularly for cocoa, and rising supply chain costs driven by U.S. import tariffs and retaliatory measures involving Canada and Mexico. Regulatory risks are intensifying due to the "Make America Healthy Again" movement and FDA mandates to phase out petroleum-based synthetic dyes, prompting the company to remove all certified Food, Drug & Cosmetic colors by 2027. While the North America Salty Snacks segment shows growth through brands like Dot’s Homestyle Pretzels, SkinnyPop, and the recent acquisition of LesserEvil, the core North America Confectionery segment is experiencing volume declines due to price elasticity. Internationally, operations in Brazil and Mexico are pressured by unfavorable foreign currency exchange rates and higher manufacturing costs. To mitigate these pressures, Hershey is implementing the Advancing Agility & Automation (AAA) initiative to optimize supply chain spend and SG&A expenses. Additionally, the company is managing a $5.4 billion debt load and navigating a complex equity structure controlled by the Hershey Trust Company.

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HSY filing events and research context

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