secwatch.observer — SEC 8-K summary
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Issuer:     HERSHEY CO (HSY)
CIK:        0000047111
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0000047111-24-000020
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hershey Q1 net sales up 8.9% to $3.25B; adjusted EPS $3.07 vs $2.96 YoY
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- Reported net income $797.5M ($3.89 diluted EPS) up 36.5% YoY; adjusted EPS $3.07 up 3.7%.
- Organic constant currency net sales +8.6% driven by price (+5.2%) and volume/mix (+3.4%).
- Adjusted gross margin 44.9% down 170bps; adjusted operating margin 26.5% down 130bps on commodity costs.
- North America Confectionery sales +10.4% lifted by ERP pull-forward shipments expected to reverse in Q2.
- Reaffirms FY2024 guidance: net sales growth 2-3%, adjusted EPS ~$9.59 (flat).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/47111/000004711124000020/0000047111-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/47111/000004711124000020/hsy-20240503.htm
  HTML page:      https://secwatch.observer/filing/0000047111-24-000020

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