HSY

Hershey is upgraded from Sell to a cautious Buy as cocoa prices have declined, margins are recovering, and earnings are rebounding. HSY's risk/reward profile is now more attractive, with normalized earnings, resumed dividend growth, and diminished tariff concerns supporting a small position entry. Revenue growth is driven by pricing, not volume, highlighting strong brand power but raising concerns about long-term organic growth sustainability.

The Hershey Company (HSY) Q2 2026 Earnings Call Prepared Remarks Transcript

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Hershey NYSE: HSY executives said the company expects growth in the second half of 2026 despite tougher comparisons, continued consumer pressure and supply-chain costs in its salty-snacks business.

Hershey delivered strong Q2 2026 results, with adjusted EPS up 57% and gross margin expanding to 45.3%. HSY raised full-year guidance, now expecting 4.5–5% net sales growth and 32.5–35% adjusted EPS growth. Despite margin recovery from favorable cocoa contracts, HSY faces volume declines and increased competition, particularly in confectionery.

The Hershey Company (HSY) Q2 2026 Earnings Call Transcript

Hershey's second-quarter earnings surge 57% as pricing and LesserEvil lift sales, while margin recovery supports stronger profitability.

While the top- and bottom-line numbers for Hershey (HSY) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Hershey (HSY) came out with quarterly earnings of $1.9 per share, beating the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $1.21 per share a year ago.

Hershey NYSE: HSY narrowed its 2026 sales and adjusted earnings outlook to the upper half of its previous ranges after reporting stronger first-half results, supported by pricing, productivity initiatives and continued consumer demand across its confectionery, salty snacks and international businesses.