Earnings Summary: Hershey Achieves Remarkable Growth in First Quarter 2024
Monday, 6 May 2024, 15:13
Earnings Summary
The Hershey Company (NYSE: HSY) has reported an increase in net sales and adjusted profit for the first quarter of 2024.
Key Points:
- Consolidated net sales rose to $3.25 billion, up by 8.9% from the previous year.
- Organic net sales surged by 8.6% on a constant currency basis.
- Net income climbed to $797.5 million or $3.89 per share, marking a 36.5% increase.
- Adjusted earnings per share grew by 3.7% to $3.07 in Q1.
Hershey's management anticipates a 2% to 3% growth in net sales for fiscal 2024 with flat earnings per share. The company plans capital expenditures between $600 million to $650 million.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.