earnings
confidence high
sentiment positive
materiality 0.80
Hershey Q3 net sales +11.1% to $3.03B; EPS $2.52/$2.60; reaffirms FY guidance
HERSHEY CO
- Q3 net sales $3.03B, +11.1% YoY; organic constant currency +10.7% on price realization and salty snack inventory build.
- Reported EPS $2.52 (up 29.9%); adjusted EPS $2.60 (up 19.8%). Both exceed prior year.
- North America Confectionery net sales +9.9%; CMG takeaway +2.5%; share down ~120bps on competitive innovation.
- North America Salty Snacks net sales +25.5%, volume +22.2% (planned ERP inventory); Paqui removal cost ~$10M.
- Reaffirmed FY2023 outlook: net sales growth ~8%, adjusted EPS growth 11-12%, capex $800-850M, tax rate ~15%.