The Hershey CompanyNYSE: HSY
Consumer Staples · Packaged Foods & Meats
$182.63
-1.68%
Vol: 1.7M
Research Digest
Friday, May 1, 2026
Hershey beat Q1 2026 estimates with $3.1B revenue (up 10.7% YoY) on 8% organic growth and 10% pricing, but stock declined 1.6% as guidance and margins disappointed.
The Hershey Company reported Q1 2026 revenue of $3.1 billion, significantly exceeding prior years $2.8 billion, driven by 8% organic sales growth on 10% pricing gains offset by 2% volume decline. However, adjusted gross margin contracted 80 basis points to 40.4% due to commodity and tariff cost pressures outpacing productivity savings. Management reaffirmed 2026 adjusted EPS guidance of $8.20-8.52 (midpoint $8.36 vs. $8.40 consensus), disappointing investors. Leadership transition: Andrew Archambault departs as President US effective May 1.
Previous Market Intelligence
13 daysApr 30Hershey beats Q1 2026 estimates with strong EPS and guides 30-35% full-year growthPositive▶
The Hershey Company reported Q1 2026 earnings per share of $2.35, beating the forecast of $2.04 and surpassing revenue expectations of $3.1 billion versus $3.02 billion forecast. The company expects at least 15% adjusted EPS growth in Q2 2026, with full-year growth outlook of 30-35%, anticipating meaningful gross margin recovery of approximately 400 basis points for the full year. Hershey declared quarterly dividends of $1.452 on common stock and announced new product launches including Dot's Snack Mix and Twizzlers Straws. The company is seeing higher sales for mints and gum due to growing GLP-1 drug usage.
Apr 29Hershey to report Q1 2026 earnings April 30 before market open, analyst expectations $2.06 EPSNegative▶
The Hershey Company will announce Q1 2026 earnings results April 30 before market open with analyst expectations of $2.06 EPS and $3.02 billion in revenue. Recent product launches include limited-edition Reese's Marshmallow Cup and returning Reese's Strawberry PB&J Cup (available April 7, 2026). Shaq-A-Licious SLAMS announced as official gummy partner of NCAA Tournament for second year. Hershey is shifting to all-natural colors in products by 2027. Recent analyst activity mixed: Morgan Stanley lowered target to $227 from $247 on April 23, JPMorgan lowered to $211 from $230 on April 20, while Goldman Sachs gave Buy rating April 21. Stock down -1.74% weekly and -10.91% for the month.
Apr 16Hershey Trust sold $4.1 million of HSY stock on April 9-10, 2026 at prices ranging from $202.45 to $210.54.Neutral▶
Hershey Trust Co divested 20,407 shares April 9-10 at $202.45-$210.54. CEO Kirk Tanner focusing on functional foods expansion. Upcoming earnings April 30, 2026. Company targeting natural colors in all products by 2027 and aiming to add Ice Breakers, KitKat, Dot's, and Jolly Rancher to billion-dollar brands. Q4 2025 dividend $1.452/share on Common Stock. Stock down 4.05% week, 8.74% month but +19.08% year. 16 analysts rate Hold with target $216.94.
Apr 15Hershey reaffirmed 2026 guidance (+4% to +5% net sales growth) and announced leadership change with Andrew Archambault departing.Mixed▶
Hershey reaffirmed 2026 guidance with net sales growth of 4% to 5%, issuing EPS guidance of $8.20-$8.52 and revenue guidance of $12.2B-$12.3B. Andrew Archambault, President of U.S. Operations, is departing. Evercore ISI raised price target to $255. Q1 results scheduled for April 30, 2026.
Apr 14Hershey reverting classic recipes and scheduled Q1 earnings on April 30 following investor day where 2026 guidance was reaffirmed.Neutral▶
The Hershey Company reaffirmed 2026 guidance for mid-single-digit organic sales growth during investor day, and committed to restoring classic Reese formulations from 2027. Q1 earnings webcast set for April 30. Analysts maintaining Hold consensus with average target of $216.94.
Apr 13Hershey reaffirms 2026 guidance with mid-single digit organic sales growth and massive EPS growth amid recipe restoration for Reese's.Positive▶
At its recent investor day, Hershey reaffirmed 2026 guidance including net sales growth of 4-5%, organic growth of 2.5-3.5%, and reported EPS growth of 79-89%. The company committed to restoring classic Reese's recipes and shifting major brands toward natural colors from 2027. New product launches include Marshmallow Cups. Insider Hershey Trust Co. sold 10,000 shares for $2M on April 6. Q1 earnings set for April 30.
Apr 10Hershey returns to classic Reese's recipe after criticism and reaffirms 2026 guidance; stock downgraded to Hold.Mixed▶
The Hershey Company announced it will return all classic brands to earlier recipes, specifically using classic formulas for Reese's after pressure from founder criticism. Zacks Research downgraded Hershey from Strong Buy to Hold. At Investor Day (March 31), Hershey reaffirmed 2026 guidance of 4-5% net sales growth and 30-35% adjusted EPS growth. Q1 earnings are due April 30.
Apr 9Hershey to resume real chocolate in Reese's products; guidance reaffirmed for 2026Positive▶
Hershey announced it will return to classic milk and dark chocolate recipes in Reese's and Hershey's products after consumer backlash sparked by Reese's grandson Brad Reese calling out ingredient replacement. Change affects less than 3% of Reese's and tiny portion of Hershey's products by 2027. Q4 North America sales rose 5.3% to $2.48B with pricing adding 10 points offset by 5-point volume decline. Company reaffirmed 2026 guidance.
Apr 8Hershey reaffirms 2026 guidance with ONE Hershey strategy and product recipe restoration commitmentNeutral▶
Hershey hosted its 2026 Investor Day on March 31, unveiling the ONE Hershey commercial model targeting $50 million in productivity gains and $100 million in lower inventory over two years. The company reaffirmed net sales growth of 4-5% and EPS growth of 79-89%, with adjusted EPS rising 30-35%. Hershey committed to restoring classic Reese's recipes by 2027 following consumer backlash and plans natural color transitions across major brands. The strategy addresses tariff and cocoa cost pressures while emphasizing innovation in premium and better-for-you snacking. Q1 earnings are scheduled for April 30, 2026.
Apr 7Hershey reaffirms 2026 outlook 4-5% sales growth; reverting Reese's to classic recipe by 2027.Positive▶
Hershey March 31 Investor Day unveiled One Hershey strategy. 2026 guide: 4-5% sales growth, 2.5-3.5% organic, 79-89% EPS growth. Reverting Reese's to classic recipe and natural colors by 2027. Hold consensus $231.67 target (+13.51%).
Apr 6Hershey Reaffirms 2026 Guidance; Pivots to Next Generation SnackingPositive▶
Hershey held its 2026 Investor Day to outline a strategy to lead next generation snacking, combining iconic confections with faster expansion in salty and functional snacking. The company reaffirmed 2026 guidance: net sales +4-5%, organic +2.5-3.5%, reported EPS +79-89%, and adjusted EPS +30-35%. Plans include adjusting the KitKat recipe toward natural colors and shifting products to chocolate compound coatings by 2027. The company committed to reverting Reese's to its classic recipe. A unified 'One Hershey' commercial model aims to leverage scale across the organization with supply chain tech modernization.
Apr 3Hershey reaffirms aggressive 2026 earnings guidance at April 1 investor day; unveils product reformulation strategy.Positive▶
Hershey held its 2026 investor day on April 1, reaffirming 30-35% adjusted EPS growth and 4-5% net sales growth targets. The company announced ONE Hershey unified sales model and supply chain technology investments. KitKat will be reformulated; Reese's and Hershey's products will transition to natural color sources by 2027. UBS and DA Davidson lowered price targets.
Apr 2Hershey returns Reese's to classic chocolate recipe by 2027 after backlash; unveils Lead Next Generation Snacking strategy at Investor Day.Positive▶
The Hershey Company announced it will return Reese's products to traditional milk and dark chocolate formulations by 2027, reversing a controversial recipe change that sparked public backlash. The shift affects less than 3% of Reese's products. At its 2026 Investor Day on April 2, Hershey outlined strategy to Lead Next Generation Snacking, including ditching artificial colors across portfolio, boosting R&D spending 25%, and reworking KitKat for creamier recipe. Company reaffirmed 2026 guidance: net sales +4-5%, adjusted EPS +30-35%.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| MDLZMONDELEZ | $61.40 | -0.07% | +5.2% | 18.3x | 0.39 | $78.9B |
| HSYHERSHEY | $182.63 | -1.68% | -10.7% | 18.8x | 0.17 | $37.6B |
| KHCKRAFT | $22.53 | -0.60% | -3.9% | 10.6x | 0.05 | $26.8B |
| TSNTYSON | $63.84 | -0.36% | -0.7% | 14.6x | 0.43 | $22.6B |
| GISGENERAL | $34.83 | -1.37% | -6.3% | 10.7x | — | $18.8B |
| MKCMCCORMICK | $50.38 | -0.91% | +0.1% | 15.2x | 0.71 | $13.7B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.