Hershey Company (HSY) Q3 2025 Earnings
How Did HSY Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.25%.
Did HSY Beat Earnings? Q3 2025 Results
Yes. Hershey Company reported Q3 2025 earnings of $1.30 a share on Oct 30, 2025, beating the $1.06 consensus estimate by 22.6%. Revenue was $3.2B against a $3.1B estimate.
Hershey posted a stronger-than-expected third quarter, with adjusted EPS of $1.30 beating the $1.06 consensus by 22.21%, even as that figure represented a steep 44.4% decline from a year ago, underscoring the tension at the heart of the company's current story. Revenue of $3.18 billion rose 6.5% year-over-year and edged past the $3.12 billion consensus by 2.13%, powered by roughly 6 points of net price realization across its portfolio. The gains, however, were significantly offset by commodity and tariff pressures that compressed reported gross margin by 870 basis points to 32.6%, with an estimated $160 million to $170 million in full-year tariff expense weighing heavily on profitability. A standout bright spot was the North America Salty Snacks segment, where SkinnyPop and Dot's Homestyle Pretzels drove 10% sales growth. Looking ahead, Hershey raised its full-year net sales growth outlook to approximately 3% and narrowed adjusted EPS guidance to $5.90 to $6.00, signaling cautious confidence despite a projected 36% to 37% annual earnings decline.
- Net price realization of approximately 6 points drove organic constant currency net sales growth of 6.2%
- North America Salty Snacks volume increased approximately 11 points driven by promotional programming, innovation, and media investments
- Strong innovation and growth in core confectionery brands partially offset price elasticity impact
- International segment benefited from double-digit growth in Brazil and favorable shipment timing in Europe and Mexico
- Advancing Agility & Automation Initiative expected to deliver approximately $150 million in savings
“Third quarter results surpassed expectations, as strong innovation, strategic brand investments, and market leading execution drove momentum across business segments. Based on our results year-to-date, we are raising our full year outlook for net sales and earnings per share.”
Hershey Company CEO, on the earnings call
What Was Hershey Company's Outlook in Q3 2025?
Hershey raised its full-year 2025 outlook. Net sales growth guidance was increased to approximately 3% (from prior guidance of 'up at least 2%'), including an approximate 40 basis point benefit from the Sour Strips acquisition and an approximate 30 basis point headwind from foreign currency. Reported EPS is now projected to decline 48% to 50% (previously down ~50%), equating to $5.48 to $5.72. Adjusted EPS guidance was narrowed to the upper half of the prior range at $5.90 to $6.00, representing a decline of 36% to 37% (prior range was down 36% to 38%). The company expects tariff expense of approximately $160 million to $170 million, an adjusted effective tax rate of approximately 26%, interest expense of approximately $195 million, capital expenditures of approximately $425 million, and Advancing Agility & Automation Initiative savings of approximately $150 million. Guidance excludes the proposed acquisition of LesserEvil.
HSY YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $3.2B | $3.0B | +6.5% |
| Gross Profit | $1.0B | $1.2B | −15.9% |
| Operating Income | $434.6M | $613.1M | −29.1% |
| Net Income | $276.3M | $446.3M | −38.1% |
HSY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.