October 28, 2021 6:45 AM EDT
The Hershey Company (NYSE: HSY) today announced net sales and earnings for the third quarter ended October 3, 2021, and raised its full-year financial outlook.
“Consumer demand for our brands has remained robust on both a one- and two-year basis,” said Michele Buck, The Hershey Company President and Chief Executive Officer. “Our continued focus on operating with speed and agility has enabled us to respond quickly to changes in the marketplace and develop plans to maintain sales momentum, increase production and sustain our advantaged margin structure over the long term. We are raising both sales and earnings guidance for 2021 to reflect elevated consumer demand across markets, an improved tax outlook and optimized brand investment, which, collectively, are expected to more than offset higher supply chain costs and inflation.”
Third-Quarter 2021 Financial Results Summary1
- Consolidated net sales of $2,359.8 million, an increase of 6.3%.
- Organic, constant currency net sales increased 4.4%.
- The impact of acquisitions on net sales was a 1.4-point benefit2, and foreign currency exchange was a 0.5-point benefit.
- Reported net income of $444.9 million, or $2.14 per share-diluted, in line with the prior period.
- Adjusted earnings per share-diluted of $2.10, an increase of 12.9%.
