The Hershey Company has announced the appointment of Huong Maria T. Kraus as the new Chairman of the Board, effective August 18, 2025. This change follows the retirement of Michele G. Buck from the position. Ms. Kraus joined the Board in May 2023 and has been involved in various committees, including Audit and Governance.
Ms. Kraus brings significant experience in governance, finance, and corporate development to her new role. She is currently the Chief Financial Officer of Wedgewood Pharmacy and has held leadership positions with the Hershey Trust Company and Milton Hershey School since 2018. Her background may influence the company's strategic direction and governance practices.
link19min ago
The Hershey Company has appointed Chris Brandt to its Board of Directors, effective August 11, 2025. Brandt brings over 25 years of marketing experience in the food and beverage industry, currently serving as President and Chief Brand Officer of Chipotle Mexican Grill. He has also held senior marketing roles at Bloomin’ Brands and Taco Bell.
Brandt will participate in the Compensation and Human Capital and Finance and Risk Management Committees of the Board. He qualifies as an independent director under New York Stock Exchange standards and will be compensated according to the company's non-employee director compensation program, as outlined in the proxy statement for the 2025 Annual Meeting of Stockholders.
linkAug 04, 2025 16:19:56
The Hershey Company announced its financial results for the second quarter of 2025, reporting consolidated net sales of $2,614.7 million, a 26.0% increase compared to the same period last year. Organic, constant currency net sales also rose by 26.3%, driven by volume growth and effective pricing strategies. However, the company's net income decreased significantly to $62.7 million, or $0.31 per share, reflecting a 65.2% decline, while adjusted earnings per share were $1.21, down 4.7%. The company cited inflationary pressures in commodities and manufacturing as contributing factors to these changes in profitability.
Hershey updated its full-year earnings outlook, incorporating estimated tariff expenses and commodity cost mitigation strategies. The company anticipates tariff expenses of approximately $170 to $180 million for the year and projected capital expenditures between $425 million and $450 million. Notably, the Sour Strips acquisition is expected to positively impact net sales growth by about 40 basis points. The report also detailed segment performances, with North America Confectionery sales rising by 32.0%, while the International segment saw a modest increase of 4.4%. Overall, the results reflect a complex landscape of growth opportunities and cost challenges.
linkJul 30, 2025 06:36:11
The Hershey Company announced the appointment of Kirk Tanner as President and Chief Executive Officer, effective August 18, 2025. Tanner, who has extensive experience in the food and beverage industry, previously served as CEO of PepsiCo Beverages North America and currently leads The Wendy’s Company. His appointment follows the planned retirement of Michele Buck, who will remain with the company as a Special Advisor until June 30, 2026, to ensure a smooth transition.
Tanner's employment agreement includes an annual base salary of $1,250,000, eligibility for an annual cash incentive award targeted at 180% of his base salary, and significant equity-based compensation. He will receive a total of $7 million in restricted stock units and $4 million in performance stock units as part of his sign-on awards. The agreement also outlines severance benefits in case of termination without cause or for good reason, and includes non-competition and non-solicitation covenants.
linkJul 08, 2025 09:02:37
The Hershey Company announced its financial results for the first quarter of 2025, reporting net sales of $2.8 billion, a decrease of 13.8% compared to the same period last year. The decrease in sales was attributed to lower volume driven by inventory adjustments and the timing of the Easter season. The company reported a net income of $224.2 million, or $1.10 per share, marking a decline of 71.7% from the previous year, with adjusted earnings per share at $2.09, down 31.9%. Gross margins also decreased significantly due to rising commodity costs and lower sales volumes.
Despite these declines, Hershey reiterated its full-year financial outlook, expecting at least 2% growth in net sales. The company anticipates a reported earnings per share decline in the high-40% range and an adjusted earnings per share decline in the mid-30% range. The guidance includes anticipated tariff expenses and does not account for potential future tariff impacts or the effects of the proposed acquisition of LesserEvil. The company is also focused on strategic investments and acquisitions to enhance its portfolio.
linkMay 01, 2025 06:47:38
The Hershey Company has announced a public offering of notes aimed at repaying its outstanding 0.900% and 3.200% Senior Notes due 2025, along with certain short-term commercial paper borrowings. The proceeds will also cover related fees and general corporate purposes, reflecting the company's strategy to manage its debt effectively. The registration statement for this offering has been filed and is effective, signaling a proactive approach to its financial obligations.
However, the press release does not provide detailed information on the potential impact of this offering on Hershey's financial health or its future operations. While the company has a long-standing commitment to ethical practices and community support, the announcement raises questions about its current debt levels and overall financial strategy in a potentially challenging economic environment.
linkFeb 20, 2025 16:42:14
Hershey Company reported consolidated net sales of $2,887.5 million for the fourth quarter of 2024, marking an increase of 8.7%. The company saw a significant rise in net income, reaching $796.6 million, which is a 130.6% increase compared to the previous year. Adjusted earnings per share also grew by 33.2% to $2.69. The North America Salty Snacks segment experienced a notable 35.9% growth in net sales, largely attributed to volume increases and favorable shipment timing, while the North America Confectionery segment saw a 6.0% rise in net sales. Overall, the company ended the year with positive momentum across its segments, despite challenges in commodity costs affecting future earnings expectations.
Conversely, the full-year results showed a modest 0.3% increase in consolidated net sales, with a decrease in adjusted earnings per share by 2.3%. Looking ahead to 2025, Hershey anticipates significant pressures on earnings due to rising cocoa prices and increased operational costs, projecting a decline in reported earnings per share by approximately 40%. Additionally, the company expects challenges from foreign currency exchange rates and higher interest expenses, which may impact overall profitability despite expected net sales growth of at least 2%.
linkFeb 06, 2025 06:50:10
Hershey announced that Michele Buck will retire as CEO on June 30, 2026, after nearly 20 years with the company. A special committee has been formed to search for her successor, considering both internal and external candidates. Buck highlighted the company's achievements in expanding its snacking portfolio and emphasized the importance of Hershey's culture in driving innovation and value creation for shareholders. She expressed pride in the company's progress and the team's accomplishments during her tenure.
On the negative side, while Hershey reaffirmed its financial outlook for 2024, specific challenges were not addressed in the release. The company faces potential risks related to supply chain disruptions, product quality, competition, and changing market conditions. These uncertainties, along with the need to adapt to consumer preferences and economic fluctuations, may impact future performance, as indicated by the various risks outlined in their previous reports.
linkJan 15, 2025 16:22:38
Hershey Company has announced the appointments of Andrew Archambault as President of U.S. Confection and Veronica Villasenor as President of Salty Snacks, effective February 3, 2025. Archambault joins from Keurig Dr Pepper and is expected to leverage his experience in brand transformation. Villasenor, a 22-year veteran at Hershey, will continue to drive growth in the Salty Snacks division, succeeding Kristen Riggs, who is leaving after 20 years with the company. Both leaders will join Hershey’s Executive Committee.
The announcement highlights significant leadership changes, with Archambault and Villasenor tasked with advancing Hershey's strategic goals. The departure of Riggs, who played a crucial role in integrating acquisitions and scaling the Salty Snacks business, may present challenges in continuity. Nevertheless, the company emphasizes its commitment to growth, supported by its extensive portfolio of over 90 brands and a strong annual revenue of $11.2 billion.
linkJan 13, 2025 16:21:35
Hershey Company reported net sales of $2,987.5 million for the third quarter of 2024, which represents a decrease of 1.4% compared to the previous year. The company faced challenges due to high cocoa prices and a tough consumer environment, leading to a reported net income of $446.3 million, a decline of 12.7%. Additionally, the company has lowered its full-year outlook for net sales and earnings, indicating a more cautious approach moving forward.
On a positive note, Hershey's North America Confectionery segment saw a slight increase in net sales by 0.8%, attributed to price realization, despite a decline in retail takeaway. The company's efforts to manage expenses were evident, as selling, marketing, and administrative expenses decreased by 5.2%. However, the overall profitability was impacted by higher commodity costs and unfavorable input timing, leading to a decrease in both reported and adjusted operating profit margins.
linkNov 07, 2024 06:50:11