Hershey / PA. (thc) The Hershey Company announced net sales and earnings for the third quarter ended October 02, 2022, and raised its full-year financial outlook. «Third quarter results came in ahead of our expectations, as our increased brand investments and improved supply chain helped support resilient consumer demand and drove category growth across all business segments,» said President and Chief Executive Officer Michele Buck. «Marketplace share and gross margin trends improved versus the second quarter, and we have strong momentum exiting the year. Given our performance to date and visibility into the fourth quarter, we are raising our net sales and earnings outlook for the year.»
Third-Quarter 2022 Financial Results Summary
- Consolidated net sales of USD 2,728.2 million, an increase of 15.6 percent.
- Organic, constant currency net sales increased 11.8 percent.
- The impact of acquisitions on net sales was a 4.1-point benefit 2 while foreign currency exchange was a 0.3-point headwind.
- Reported net income of USD 399.5 million and USD 1.94 earnings per share-diluted, a decrease of 9.3 percent.
- Adjusted earnings per share-diluted of USD 2.17, an increase of 3.3 percent.
For additional information please refer to the company’s news release (PDF | 244 KB):20221104-HERSHEY-Q3-2022