Hershey Q3 net sales +15.6% to $2.73B; raises FY2022 sales and EPS outlook

HERSHEY CO

Reported net income $399.5M ($1.94 diluted EPS); adjusted EPS $2.17, +3.3% YoY.
Organic constant-currency net sales +11.8%; North America Confectionery +10.4%.
Raised FY2022 net sales growth guidance to 14-15% (prior 12-14%) and adjusted EPS to $8.20-$8.27 (prior $8.14-$8.27).
North America Salty Snacks net sales +86.9%, driven by Dot's/Pretzels acquisitions (65.5-pt benefit) and organic +21.4%.
Segment margins: Confectionery 31.6% (-80bp), Salty Snacks 16.2% (-390bp); International margin +590bp to 16.3%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERSHEY CO reported third quarter ended October 2, 2022 results: revenue $2,728.2 million, net income $399.5 million, EPS $1.94 earnings per share-diluted. Guidance raised.

Period: third quarter ended October 2, 2022
Revenue: $2,728.2 million
Net income: $399.5 million
EPS: $1.94 earnings per share-diluted
Guidance: raised
Result: reported results

Exact text from the filing

visibility into the fourth quarter, we are raising our net sales and earnings outlook for the year.” Third-Quarter 2022 Financial Results Summary 1 • Consolidated net sales of $2,728.2 million, an increase of 15.6%. • Organic, constant currency net sales increased 11.8%. • The impact of acquisitions on net sales was a 4.1-point benefit 2 while foreign currency exchange

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Source: SEC EDGAR

accession 0000047111-22-000049

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