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HERSHEY, Pa., USA – The Hershey Company (has announced net sales and earnings for the fourth quarter and full-year ended December 31, 2024. “I am pleased to see the consumer response to our agile innovation, marketing and in-store execution as we end the year with momentum across our segments,” said Michele Buck, The Hershey Company President and Chief Executive Officer.
“While we continue to expect the surge in cocoa prices to put significant pressure on 2025 earnings, we will focus on driving top-line and share momentum, executing our transformation and productivity programs, and positioning ourselves to deliver peer-leading performance over the long-term.”
Fourth-Quarter 2024 Financial Results Summary
Consolidated net sales of $2,887.5 million, an increase of 8.7%.
Organic, constant currency net sales increased 9.0%.
The impact of acquisitions on net sales was a 0.2 point benefit2 while currency exchange was a 0.5 point headwind.
Reported net income of $796.6 million, or $3.92 per share-diluted, an increase of 130.6%.
Adjusted earnings per share-diluted of $2.69, an increase of 33.2%.
2024 Full-Year Financial Results Summary
Consolidated net sales of $11,202.3 million, an increase of 0.3%.
Organic, constant currency net sales increased 0.4%.
Reported net income of $2,221.2 million, or $10.92 per share-diluted, an increase of 20.5%.
Adjusted earnings per share-diluted of $9.37, a decrease of 2.3%.
2025 Full-Year Financial Outlook Summary
The company expects net sales growth of at least 2%, driven primarily by net price realization. Reported earnings per share is expected to be down in the high-40% range as higher commodity costs, rebased incentive compensation, and a higher economic tax rate are expected to more than offset price realization, productivity and cost savings programs. The company projects adjusted earnings per share to be down in the mid-30% range when excluding one-time costs associated with cost savings initiatives and acquisition integration activities. The gap between the reported and adjusted earnings per share growth outlooks primarily reflects a large derivative mark-to-market gain recorded in reported earnings per share in 2024.
