The Hershey Company said consolidated net sales for Q3 2024 decreased to $2,987.5 million, down 1.4%, and organic, constant currency net sales decreased 1.0%. The company said net price realization of approximately 2 points was more than offset by lower volume across segments.

1. 01

   The Hershey Company said consolidated net sales for Q3 2024 decreased to $2,987.5 million, down 1.4%, and organic, constant currency net sales decreased 1.0%. The company said net price realization of approximately 2 points was more than offset by lower volume across segments.

2. 02

   Hershey said reported gross margin for Q3 was 41.3%, compared with 44.9% a year earlier, a decrease of 360 basis points, and reported operating profit fell 16.7% to $613.2 million. The company cited higher commodity costs and other factors as reasons for the decline.

3. 03

   Hershey said reported net income for Q3 was $446.3 million and diluted earnings per share were $2.20, down 12.7%. Adjusted diluted earnings per share were $2.34, down 10.0%.

4. 04

   The company said it lowered its 2024 full-year net sales growth outlook to flat from the prior outlook of about 2%, and its reported earnings per share growth outlook to (3)% to (1)% from (9)% to (6)%.

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.