---
schema_version: "secwatch.filing_event.v1"
accession: "0000047111-24-000004"
form_type: "8-K"
ticker: "HSY"
cik: "0000047111"
company_name: "HERSHEY CO"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T06:00:13.341709+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hershey Q4 sales flat; 2024 EPS guided ~0% growth; announces $200-250M productivity plan

## Summary
- Q4 net sales $2,657.1M (+0.2%), organic constant currency -0.1%; adjusted EPS $2.02 flat YoY.
- Full-year 2023 net sales $11,165M (+7.2%), adjusted EPS $9.59 (+12.6%).
- 2024 outlook: net sales +2-3%, reported and adjusted EPS ~0% growth due to higher cocoa/sugar costs.
- Board approved 'AAA' initiative with $200-250M pre-tax costs through 2026; expects $300M annual savings by 2026.
- North America Salty Snacks sales -24.6% on ERP inventory decline; International +12.7%.

## SEC filing metadata
- accession: 0000047111-24-000004
- form_type: 8-K
- ticker: HSY
- cik: 0000047111
- company_name: HERSHEY CO
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/47111/000004711124000004/0000047111-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/47111/000004711124000004/hsy-20240202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000047111-24-000004
- JSON: https://secwatch.observer/filing/0000047111-24-000004.json
- Plain text: https://secwatch.observer/filing/0000047111-24-000004.txt

## Key facts
- Earnings Releases
  HERSHEY CO reported financial results for the fourth quarter ended December 31, 2023.
  - Period: the fourth quarter ended December 31, 2023
  - Result: reported results
  source text: On February 8, 2024, The Hershey Company (the “Company”) announced sales and earnings information for the fourth quarter and full year ended December 31, 2023. A copy of the Company's press release is furnished hereto as Exhibit 99.1 and is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/47111/000004711124000004/0000047111-24-000004-index.htm
- Earnings Releases
  HERSHEY CO reported financial results for the full year ended December 31, 2023.
  - Period: the full year ended December 31, 2023
  - Result: reported results
  source text: On February 8, 2024, The Hershey Company (the “Company”) announced sales and earnings information for the fourth quarter and full year ended December 31, 2023. A copy of the Company's press release is furnished hereto as Exhibit 99.1 and is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/47111/000004711124000004/0000047111-24-000004-index.htm
- Restructurings & Charges
  HERSHEY CO announced a restructuring with charges of $200 million to $250 million affecting supply chain and manufacturing-related spend, selling, general and administrative expenses ($45 million to $60 million as we facilitate workforce reductions).
  - Type: restructuring
  - Charge: $200 million to $250 million
  - Affected area: supply chain and manufacturing-related spend, selling, general and administrative expenses
  - Headcount: $45 million to $60 million as we facilitate workforce reductions
  source text: On February 2, 2024, the Board of Directors of the Company approved a multi-year productivity initiative (“Advancing Agility & Automation” or “AAA”) to improve supply chain and manufacturing-related spend, optimize selling, general and administrative expenses, leverage new technology and business models to further simplify and automate processes, and generate long-term savings. The Company estimates that the AAA Initiative will result in total pre-tax costs of $200 million to $250 million from inception through 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/47111/000004711124000004/0000047111-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.