The Hershey Company exceeds analyst expectations in 2022

Organic, constant currency net sales increased 10.7%. The impact of acquisitions on net sales was a 3.6-point benefit, while foreign currency exchange was a 0.3-point headwind. Reported net income was USD 396.3 m, an increase of 18.5%.

In addition, the company reports consolidated net sales of USD 10.419 bn for the full business year 2022, an increase of 16.1%. Organic, constant currency net sales increased 12.0%. The net impact of acquisitions on net sales was a 4.3-point benefit, while foreign currency exchange was a 0.2-point headwind. Reported net income was USD 1.645 bn, an increase of 12.0%.

“In 2022, the Hershey Company delivered one of its strongest years in history despite record inflation, continued supply chain disruptions and macroeconomic uncertainty for many consumers,” said Michele Buck, The Hershey Company Chairman and CEO. The company expects net sales growth of 6% to 8% driven primarily by net price realization as consumer demand remains steady behind higher advertising levels and increased capacity.