secwatch.observer — SEC 8-K summary
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Issuer:     HERSHEY CO (HSY)
CIK:        0000047111
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000047111-24-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hershey Q2 net sales -16.7% to $2.07B, adj EPS $1.27; FY2024 outlook lowered
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- Consolidated net sales $2,074.5M, down 16.7% YoY; organic constant currency down 16.8%.
- Reported EPS $0.89, down 55.1%; adjusted EPS $1.27, down 36.8% YoY.
- Full-year 2024 net sales growth guidance revised to ~2% from 2-3%; adjusted EPS growth now 'down slightly' from ~0%.
- ERP system implementation caused ~9 point sales decline from planned inventory reductions; seasonal shipment timing another ~7 point headwind.
- North America Confectionery segment net sales down 20.7% to $1.58B; Salty Snacks up 6.4% to $289.9M; International down 8.9% to $204.8M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/47111/000004711124000043/0000047111-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/47111/000004711124000043/hsy-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000047111-24-000043

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