10-K · February 17, 2026
Hershey closed 2025 with broad top-line resilience, completed the LesserEvil acquisition on November 18, 2025, and generated strong cash flow, while margins showed mid-year compression with recovery into Q4. The company…
Earnings analysis · 10-Q
HSY earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Hershey Company reported a strong Q1 2026, with net sales of $3,104.2 million, a 10.6% increase from the previous year, while EPS rose to $2.13, up 93.6%. The company experienced growth across its North America…
Read full summary
Hershey Company reported a strong Q1 2026, with net sales of $3,104.2 million, a 10.6% increase from the previous year, while EPS rose to $2.13, up 93.6%. The company experienced growth across its North America Confectionery and Salty Snacks segments, but encountered challenges from increased costs and reduced volumes in certain areas.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.13
What stood out
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Strong Revenue Growth
Net sales increased by 10.6% year-over-year, reaching $3,104.2 million from $2,805.4 million.
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Significant EPS Increase
Diluted EPS rose to $2.13, up 93.6% compared to $1.10 in Q1 2025.
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Improved Gross Margin
Gross margin expanded by 570 basis points to 39.4%, driven by favorable pricing actions.
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Salty Snacks Segment Surge
North America Salty Snacks net sales grew by 26.0%, reaching $350.1 million, aided by the acquisition of LesserEvil.
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Operating Profit Boost
Operating profit surged by 73.5% to $640.7 million, reflecting enhanced operational efficiency.
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International Segment Growth
International net sales increased to $264.2 million, a 16.1% increase from $227.5 million last year.
What to watch
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Supply Chain Cost Pressures
Higher commodity and tariff costs increased overall expenses, leading to pressure on profits.
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Volume Declines in Key Segments
Volume decreased by approximately 4% in the North America Confectionery segment, affecting sales.
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Geopolitical and Tariff Risks
Ongoing tariffs and geopolitical uncertainties, especially related to the Middle East, pose risks to cost structures.
Management's outlook
The company reaffirmed full-year guidance for net sales growth of 4% to 5% and adjusted EPS growth guidance of 30% to 35%.
Earlier filings 4
10-Q · July 30, 2025
Hershey reported Q2 net sales of $2,614,718,000 (up $540,238,000 vs Q2 2024) but saw significant margin and earnings compression: gross profit fell to $796,273,000 (30.5% gross margin) and diluted EPS declined to $0.31…
10-Q · May 1, 2025
Hershey reported Q1 net sales of $2,805,419 (in thousands) and net income of $224,203, a material decline versus Q1 2024. Gross profit and operating profit deteriorated sharply (gross profit $944,267; operating profit…
10-Q · November 7, 2024
Hershey reported Q3 net sales of $2,987,494,000 (down $42,493,000 vs. prior year) and diluted common EPS of $2.20 (down $0.32 vs. $2.52 a year ago). Gross profit and operating profit contracted (gross profit…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.