Hershey: Reports First-Quarter 2023 Financial Results

Hershey / PA. (thc) The Hershey Company announced net sales and earnings for the first quarter ended April 02, 2023, and raised its full-year financial outlook. «We had a great start to the year as our increased investments in the business and strong execution delivered resilient consumer demand and drove double digit sales and earnings growth in the quarter,» said Michele Buck, President and Chief Executive Officer. «As we look to the balance of the year, we remain confident in our ability to deliver our financial goals and continue executing against our key commercial, supply chain, and operational strategies to sustain our momentum into 2024 and beyond.»

First-Quarter 2023 Financial Results Summary

  • Consolidated net sales of USD 2,987.6 million, an increase of 12.1 percent.
  • Organic, constant currency net sales increased 12.2 percent.
  • Foreign currency exchange was a 0.1-point headwind.
  • Reported net income of USD 587.2 million, or USD 2.85 per share-diluted, an increase of 10.9 percent.
  • Adjusted earnings per share-diluted of USD 2.96, an increase of 17.0 percent.

For additional information please read the company’s PDF file below (226 KB):

20230427-HERSHEY-Q1-2023.