Hershey (NYSE:HSY) Posts Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Posted by Brian Himes on Jul 30th, 2026

Hershey (NYSE:HSY – Get Free Report) released its earnings results on Thursday. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.47, FiscalAI reports. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the firm earned $1.21 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Hershey updated its FY 2026 guidance to 8.360-8.520 EPS.

Here are the key takeaways from Hershey’s conference call:

Hershey reported stronger underlying demand than scanner data indicated, with U.S. confectionery consumption understated by roughly two percentage points due to Easter timing and non-measured channels. Retail inventory replenishment added about one point of shipment growth in the quarter.
Management expects organic sales growth in both the third and fourth quarters, supported by Halloween, new products such as Hershey’s n’ Creme, the Hershey movie, and additional merchandising. However, comparisons will be difficult because of last year’s successful Oreo Reese’s innovation, and the company maintained a prudent full-year outlook.
Hershey continues to view its 2027 framework as achievable, including approximately 2% North American confectionery growth and broader enterprise targets. Executives cited expected cocoa cost deflation, productivity gains, innovation, and eventual volume recovery as supporting factors, although the environment remains volatile.
Strong demand for Dot’s Pretzels created supply-chain growing pains, including spot freight, higher logistics costs, and limited throughput that pressured snacking margins. Automation is beginning to help, with additional capacity expected online in 2027 and modest margin improvement anticipated in the second half.
Cocoa costs are expected to decline next year even if futures remain near current levels, according to management, which cited healthier inventories, diversified supply, and encouraging crop data. The company also expects third-quarter earnings growth to benefit from lapping last year’s peak cocoa costs and the full impact of tariffs.

Hershey Price Performance

Shares of NYSE:HSY traded down $6.75 during trading on Thursday, reaching $177.16. 1,978,866 shares of the company’s stock traded hands, compared to its average volume of 2,032,140. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey has a fifty-two week low of $161.43 and a fifty-two week high of $239.48. The company has a 50-day simple moving average of $179.81 and a 200-day simple moving average of $196.93. The firm has a market cap of $35.94 billion, a PE ratio of 32.99, a P/E/G ratio of 1.14 and a beta of 0.11.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $1.452 per share. The ex-dividend date is Friday, August 14th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.3%. Hershey’s dividend payout ratio (DPR) is 108.19%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $170.00, for a total transaction of $255,000.00. Following the transaction, the chief financial officer owned 53,195 shares in the company, valued at approximately $9,043,150. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Institutional Trading of Hershey

A number of institutional investors and hedge funds have recently made changes to their positions in HSY. JPL Wealth Management LLC acquired a new position in shares of Hershey during the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Hershey in the 4th quarter valued at $30,000. Measured Wealth Private Client Group LLC acquired a new stake in Hershey in the 3rd quarter valued at $35,000. DV Equities LLC acquired a new stake in Hershey in the 4th quarter valued at $37,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Hershey in the 4th quarter worth $47,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Zacks Research downgraded Hershey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays reduced their target price on shares of Hershey from $220.00 to $208.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. TD Cowen raised Hershey from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, May 1st. The Goldman Sachs Group set a $240.00 price objective on Hershey in a report on Friday, May 1st. Finally, Bank of America reduced their price target on Hershey from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. Seven research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $208.28.

Get Our Latest Analysis on HSY

Hershey News Roundup

Here are the key news stories impacting Hershey this week:

Positive Sentiment: Quarterly results exceeded expectations. Second-quarter net sales rose 6.6% year over year to $2.79 billion, ahead of the $2.63 billion consensus estimate. Adjusted earnings of $1.90 per share also topped forecasts, while reported net income reached $457.7 million, or $2.26 per diluted share. Hershey beats quarterly sales estimates
Positive Sentiment: Pricing and margin recovery supported earnings. A 12% increase in prices offset weaker volumes, while profitability improved year over year. North America Salty Snacks sales rose 22.9% to $387.8 million, helped by the LesserEvil acquisition, and North America Confectionery sales increased 4.2%. Hershey Q2 Earnings Beat Estimates on Pricing and Margin Gains
Positive Sentiment: Full-year guidance was raised or narrowed toward the upper end. Hershey now expects 2026 net sales growth of approximately 4.5% to 5% and reported EPS growth of 82% to 89%, with EPS guidance of $8.36 to $8.52. The outlook excludes potential future tariff rebates. The board also declared quarterly dividends of $1.452 per common share and $1.320 per Class B share. Hershey Reports Second-Quarter 2026 Financial Results
Neutral Sentiment: Hershey and other chocolate manufacturers are redesigning supply chains and pursuing product innovation to reduce exposure to cocoa-price volatility. This could improve long-term cost management, although commodity costs remain a risk. How chocolate makers are defending themselves against cocoa price swings
Negative Sentiment: Volume trends were the main concern. Sales growth depended on price increases, while volumes fell 8%, raising questions about demand durability, pricing power and the risk of consumers trading down. Hershey Q2 2026 earnings beat, raises annual outlook
Negative Sentiment: Recent insider activity was weighted toward selling, including a $255,000 CFO sale under a pre-arranged Rule 10b5-1 plan. While scheduled sales are not necessarily a fundamental warning, they may add modest investor caution.

Hershey Company Profile

(Get Free Report)

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.