The company said consolidated net sales for Q1 2024 rose 8.9% to $3,252.7 million, and reported net income increased 36.5% to $797.5 million, or $3.89 per diluted share.

1. 01

   The company said consolidated net sales for Q1 2024 rose 8.9% to $3,252.7 million, and reported net income increased 36.5% to $797.5 million, or $3.89 per diluted share.

2. 02

   Hershey said organic, constant currency net sales rose 8.6% and volume grew 3.4%. It attributed the volume increase primarily to higher everyday core U.S. confection shipments, driven by accelerated shipments ahead of the ERP system implementation.

3. 03

   The company said reported operating profit was $1,058.1 million (operating margin of 32.5%), and adjusted operating profit was $861.0 million (operating margin of 26.5%, down 130 basis points from the prior-year period). Reported results include derivative mark-to-market gains.

4. 04

   The company reaffirmed its 2024 full-year net sales growth outlook of 2% to 3%, and said its outlook for both reported and adjusted earnings per share growth is approximately 0%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.