The Hershey Company is a global leader in the confectionery industry, renowned for its production of chocolate, sweets, mints, and other snacks. The company operates through three main segments: North America Confectionery, North America Salty Snacks, and International, with its products marketed under more than 90 brand names in approximately 80 countries worldwide . Hershey is the largest producer of quality chocolate in North America and has expanded its portfolio through strategic acquisitions to enhance its product offerings .
- North America Confectionery - Dominates the company's portfolio with iconic brands like Hershey's, Reese's, and Kisses, and includes non-chocolate confectionery brands such as Jolly Rancher and Twizzlers, as well as pantry items like baking ingredients and toppings .
- North America Salty Snacks - Features products like SkinnyPop popcorn and Dot's Homestyle Pretzels, contributing significantly to the company's growth .
- International - Encompasses operations outside North America with products tailored to regional markets, including Pelon Pelo Rico in Mexico and Sofit in India .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michele G. Buck ExecutiveBoard | Chairman of the Board, President, and CEO | Director, New York Life Insurance Company | Michele G. Buck has been with Hershey since 2005 and became CEO in 2017. She has driven Hershey's expansion into broader snacking categories and international growth. | View Report → |
Andrew Archambault Executive | President of U.S. Confection | None | Andrew Archambault joined Hershey in 2025, previously holding leadership roles at Keurig Dr Pepper, and is known for transforming consumer brand portfolios. | |
Jennifer L. McCalman Executive | Vice President, Chief Accounting Officer | None | Jennifer L. McCalman joined Hershey in 2019 and became Chief Accounting Officer in 2021. | |
Steven E. Voskuil Executive | Senior Vice President and CFO | None | Steven E. Voskuil has been with Hershey since May 2024, overseeing financial operations as CFO. | |
Veronica Villasenor Executive | President of Salty Snacks | None | Veronica Villasenor has been with Hershey for 22 years and became President of Salty Snacks in 2025, recognized for her innovation and growth strategies in the Salty Snacks division. | |
Anthony J. Palmer Board | Lead Independent Director | Operating Partner at One Rock Capital Partners, LLC; Founder of TropicSport | Anthony J. Palmer has been a board member since 2011 and Lead Independent Director since 2020. He has extensive experience in the food and beverage industry. | |
Cordel Robbin-Coker Board | Director | Director of Hershey Trust Company; CEO of Carry1st | Cordel Robbin-Coker joined the board in 2024, with expertise in consumer technology and corporate governance from his role as CEO of Carry1st. | |
Huong Maria T. Kraus Board | Director | Chairman of Hershey Trust Company; CFO of Wedgewood Pharmacy | Huong Maria T. Kraus joined the board in 2023, bringing 25 years of experience in finance and corporate development. | |
Juan R. Perez Board | Director | EVP and CIO at Salesforce.com, Inc. | Juan R. Perez has been a director since 2019, with a background in supply chain management and technology from his career at UPS and Salesforce. | |
Kevin M. Ozan Board | Director | Director at McKesson Corporation; Director at Cineworld Group PLC | Kevin M. Ozan joined the board in 2024, bringing expertise in finance and strategic initiatives from his tenure at McDonald's. | |
M. Diane Koken Board | Director | Vice Chair of Hershey Trust Company; Director at Nationwide Mutual Funds | M. Diane Koken has been a director since 2017, providing expertise in insurance, risk management, and governance. | |
Mary Kay Haben Board | Director | Director at Grocery Outlet Holding Corp.; Trustee at Equity Residential | Mary Kay Haben has been a director since 2013, with a background in consumer-packaged goods from her leadership roles at Wm. Wrigley Jr. Company and Kraft Foods. | |
Robert M. Malcolm Board | Director | Executive in Residence at McCombs School of Business, University of Texas | Robert M. Malcolm has been a director since 2011, with expertise in strategic marketing and consumer products from his roles at Diageo PLC and Procter & Gamble. | |
Victor L. Crawford Board | Director | Director at Saputo Inc.; Board member at Pelotonia; Trustee at National Urban League | Victor L. Crawford has been a director since 2020, contributing expertise in finance, logistics, and supply chain management. |
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Given the significant increase in pricing competition in international markets such as Mexico and Brazil, where you've seen higher levels of competition and are a smaller player, how do you plan to protect or grow your market share in these regions while maintaining profitability?
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With increased competition domestically from private labels and smaller players impacting your take-home segment, especially as barriers to entry have lowered due to digital media, what specific strategies are you implementing to strengthen your position and revitalize your offerings in this segment?
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Your gross margins in the recent quarter came in below expectations, partly due to negative sales mix and volume deleverage; how do you plan to address these issues and improve gross margin performance moving forward?
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With the expected significant step-up in cocoa and sugar costs next year, leading to higher inflation rates than this year, how do you plan to manage these headwinds? Will you consider further pricing actions, and how might this impact volume and elasticity?
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You mentioned seeing only a mild impact from GLP-1 drugs on your categories, but given that multiple data sources indicate consumers on these medications are consuming disproportionately less of your products, how are you proactively adjusting your product portfolio and marketing strategies to mitigate potential long-term risks?
Research analysts who have asked questions during HERSHEY earnings calls.
Alexia Howard
AllianceBernstein
4 questions for HSY
Andrew Lazar
Barclays PLC
4 questions for HSY
Christopher Carey
Wells Fargo & Company
4 questions for HSY
David Palmer
Evercore ISI
4 questions for HSY
Leah Jordan
Goldman Sachs Group, Inc.
4 questions for HSY
Michael Lavery
Piper Sandler & Co.
4 questions for HSY
Peter Galbo
Bank of America
4 questions for HSY
Robert Moskow
TD Cowen
4 questions for HSY
Scott Marks
Jefferies
4 questions for HSY
Jim Salera
Stephens Inc.
3 questions for HSY
Max Gumport
BNP Paribas
3 questions for HSY
Megan Clapp
Morgan Stanley
3 questions for HSY
Bingqing Zhu
Redburn Atlantic
1 question for HSY
James Salera
Stephens Inc.
1 question for HSY
Kenneth Goldman
JPMorgan Chase & Co.
1 question for HSY
Max Andrew Gumport
BNP Paribas
1 question for HSY
Megan Christine Alexander
Morgan Stanley
1 question for HSY
Thomas Palmer
Citigroup Inc.
1 question for HSY
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McLane Company, Inc. | Primary wholesale distributor for Hershey’s products | All | 27% of consolidated net sales in 2024 , 23% of total accounts receivable at year-end 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sour Strips | 2024 | Hershey acquired Sour Strips on November 8, 2024 to enhance its sour candy category and reach new consumer segments; the deal features leadership continuity with founder Maxx Chewning remaining to drive marketing innovation. |
Weaver Popcorn Manufacturing, Inc. | 2023 | Completed on May 31, 2023, this acquisition for an initial cash consideration of $165.8 million provided Hershey with property, plant, and equipment assets, expanding its manufacturing capacity in the North America Salty Snacks segment and strengthening its supply chain capabilities. |
Pretzels Inc. | 2021 | Announced in 2021, the intended acquisition of Pretzels Inc. was aimed at boosting Hershey’s pretzel category expertise and innovation by adding manufacturing capacity from facilities in Indiana and Kansas. |
Dot's Pretzels, LLC | 2021 | Acquired on November 10, 2021, Dot's Pretzels, LLC—the fastest-growing scale brand in U.S. pretzels—was integrated (along with the manufacturing acquisition of Pretzels, LLC) to strengthen Hershey’s salty snack portfolio and support future growth. |
Lily's Sweets, LLC | 2021 | Completed on June 25, 2021, this acquisition involved an initial cash consideration of approximately $418–422 million plus a potential $5 million contingent payment; it strategically expanded Hershey’s better-for-you portfolio with a range of sugar-free and low-sugar confectionery products expected to deliver annualized net sales of over $100 million. |
Recent press releases and 8-K filings for HSY.
- Hershey reported strong Q3 sales led by demand for healthier, zero-sugar and salty snack brands, with SkinnyPop and Dot’s Pretzels volumes up 11%.
- The company raised its 2025 net sales growth forecast to ~3% and increased the lower end of its adjusted EPS target to $5.90 (from $5.81).
- Despite sales momentum, Hershey warned profits could decline by up to 37% due to rising tariffs and cost pressures, with tariff expenses projected at $160 M–$170 M.
- Q3 adjusted EPS was $1.30, beating expectations, while GAAP net income fell to $276.3 M ($1.36/share) versus $446.3 M ($2.20/share) a year ago.
- Hershey projects 2–4% revenue growth in 2026 and plans to rebuild margins over several years while targeting potential EPS upside above its long-term algorithm; management assumes –1% price elasticity and will continue investing in brands and innovation.
- Cocoa costs have moderated but remain ~70% above 2023 levels; the company retains its hedging program, models $200 million of tariff headwind, and sees no immediate competitive pricing gaps as the confectionery category stays rational.
- In Q3, everyday confectionery grew double digits in recent weeks, driven by Reese’s Oreo innovation, balanced core performance, and digital marketing investments; the salty snacks portfolio (SkinnyPop, Dot’s, Pirate’s Booty) also delivered strong share gains.
- Halloween season started slower due to the holiday falling on a Friday and warm weather; Hershey is analyzing consumer and customer insights to optimize pack sizes, price points, and merchandising for future seasonal events.
- Hershey’s Q3 reported net sales rose 6.5%, with 6.2% organic constant-currency growth, led by pricing and slight volume gains.
- Segment performance: North America Confectionery net sales up 5.6%, Salty Snacks up 10%, and International net sales up 12.1%.
- Raised full-year 2025 net sales guidance to ~3% growth and adjusted EPS decline to 36–37%, the upper half of the prior range.
- CEO Kirk Tanner highlighted strong execution on innovation and brand building, noting standout momentum in Reese’s Oreo and salty snacks growth.
- Third-quarter net sales were $3.18 billion, up 6.5% reported and 6.2% organic, driven by 6 points of net price realization.
- Reported net income was $276.3 million (EPS $1.36), down 38.2% year-over-year; adjusted EPS was $1.30, down 44.4%.
- Operating profit margin declined to 13.7%, down 680 basis points, reflecting higher commodity and tariff costs.
- Raised full-year 2025 guidance: net sales growth to ~3% (from ≥2%) and adjusted EPS growth to down 36–37% (toward upper half of prior range).
- Hershey Company posted third-quarter net sales of $3.18 billion, up 6.5% year-over-year; organic constant currency net sales grew 6.2%.
- Reported Q3 net income was $276.3 million (diluted EPS $1.36), down 38.2%; adjusted diluted EPS was $1.30, down 44.4%.
- Full-year 2025 outlook was raised: net sales growth revised to ~3% (from ≥2%), reported EPS decline of 48–50%, and adjusted EPS decline of 36–37%.
- Company anticipates full-year 2025 tariff expense of $160–170 million, interest expense of $195 million, and capital expenditures of $425 million.
- On October 21, 2025, The Hershey Company entered into a new five-year unsecured revolving credit facility allowing borrowings up to $1.875 billion, with the option to increase commitments by up to $1.0 billion.
- The new facility replaces the prior April 2023 agreement, which provided for a $1.35 billion revolving commitment and a $500 million accordion feature.
- Borrowings may be used for general corporate and other purposes, and advances can be repaid without penalty at any time before the agreement’s termination date.
- The facility includes a quarterly covenant requiring a minimum 2.0:1 ratio of pre-tax income from continuing operations (most recent four quarters) to consolidated interest expense.
- Hershey may extend the termination date for up to two additional one-year periods upon notice to the administrative agent.
- Hershey will exhibit at the NACS Show Expo 2025 in Chicago on October 15–17 at booth #S5706, highlighting convenience-channel innovation.
- Key product launches include Reese’s OREO® Cup, Jolly Rancher Ropes Tropical Flavor, Shaq-A-Licious XL Gummies, Dot’s Homestyle Pretzels Buffalo Flavor, and reformulated SkinnyPop White Cheddar and Butter snacks.
- The company’s C-store business delivered 9.5% YTD salty-snacks sales growth and 23.2% YTD sweets growth, supported by data-driven bundling and a 56% average unit lift from confectionery promotions (92% lift for standard bars).
- Hershey emphasized strategic bundling, merchandising tactics, and its Everyday Multiples (EDM) approach to boost repeat purchases and basket size in convenience stores.
- Hershey beat analyst sales and profit estimates for the second quarter, driven by strong Easter demand for its sweets and growth in salty snacks.
- Shares rose as much as almost 7% in morning trading before giving back some gains by midday.
- Sales volume increased by about 21% due to planned changes in inventory and supply chain in North America confectionery and international segments.
- The company warned it could face up to $180 million in tariff costs this year amid rising cocoa import levies.
- Under pressure from higher input costs, Hershey rolled out double-digit price hikes on confectionery products, including Reese’s Cups.
- Michele Buck will step down as CEO on August 18, 2025, marking the end of her tenure leading Hershey.
- Consumers remain steady, favoring confection over overall snacking and placing high value on the emotional well-being delivered by Hershey products.
- Tariffs are driving significant cocoa cost pressures, with full-year tariff expenses revised to $170–180 million (up from $15–20 million), and Hershey is pursuing a potential cocoa exemption.
- Hershey’s pricing strategy is focused on covering cocoa inflation (not tariffs) through aggressive productivity measures, while M&A efforts target expansion in salty snacking and protein.
- Hershey will roll out a double-digit price increase on its confectionery products to offset unprecedented cocoa cost pressures.
- Surging cocoa prices—driven by supply disruptions in Ghana and the Ivory Coast—peaked at a record high in December before easing to an eight-month low, but remain elevated year-over-year.
- In addition to higher list prices, Hershey is employing shrinkflation by reducing pack sizes and candy counts per bag to manage input costs.
- These pricing actions are set to impact the second and third quarters, though the full extent and specific products have yet to be finalized with retailers.