Hershey (HSY) Q2 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Hershey posted a decisive Q2 2025 beat on both the top and bottom lines, with adjusted EPS of $1.21 clearing the $1.00 consensus by 20.42% and revenue of $2.61 billion topping estimates by 3.61%, though the headline numbers demand careful context. Th… Read more Hershey posted a decisive Q2 2025 beat on both the top and bottom lines, with adjusted EPS of $1.21 clearing the $1.00 consensus by 20.42% and revenue of $2.61 billion topping estimates by 3.61%, though the headline numbers demand careful context. The 26.0% year-over-year revenue surge was largely a timing artifact, as the prior-year quarter had been suppressed by planned inventory reductions tied to an ERP system implementation, with Easter's later calendar placement and early Halloween shipments providing additional lift; on a first-half basis, sales growth was a far more modest 1.70%. Beneath the revenue strength, cocoa-driven commodity inflation hammered profitability, compressing adjusted gross margin by 510 basis points and pushing full-year adjusted EPS guidance to $5.81 to $6.00, a 36% to 38% decline, worse than prior mid-30s% expectations. With the company separately notifying retailers of low double-digit price increases on core chocolate products to offset persistent cocoa cost pressures, the path to margin recovery remains a central concern heading into the second half.