Hershey Q3 2024 Earnings Report: Key Financial News and Analysis
Hershey Q3 2024 Earnings Overview
The Hershey Company (NYSE: HSY), a leader in food products and snacks, reported its third-quarter earnings for 2024, highlighting several critical financial trends.
Key Financial Metrics
- Net Sales: Consolidated net sales decreased 1.4% year-over-year to $2.99 billion.
- Organic Sales: On a constant-currency basis, sales also declined by 1.0% annually;
- Net Income: Q3 net income was $446.3 million, equating to $2.20 per share, down from $518.6 million or $2.52 per share last year.
- Adjusted Earnings: Adjusted earnings fell to $2.34 per share from $2.60 per share in Q3 2023.
Outlook for Fiscal 2024
For fiscal 2024, Hershey management anticipates:
- Net sales growth to remain flat year-over-year.
- Expected decline in full-year earnings per share, projected between 9% and 6%.
- A mid-single-digit decrease in FY24 adjusted earnings per share compared to the prior year.
Insights into Hershey's Performance
The insights from the Hershey Q3 earnings call indicate potential challenges for the company in maintaining its market position amid evolving consumer demands and economic pressures in the snacks sector. Investors should monitor HSY stock as these trends unfold.
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.