NYSE$HSY
Hershey Co · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Hershey's financial performance decreased slightly due to COVID-19 pressures and currency headwinds, but was offset by price realization and acquisition benefits.
Hershey reported a slight decrease in net sales for Q2 2020, primarily due to COVID-19 related pressures in international markets and currency headwinds. However, strong performance in North America, driven by price realization and market share gains, along with effective cost management, helped to offset these challenges, resulting in adjusted earnings per share in line with the previous year.
- Consolidated net sales decreased by 3.4% to $1,707.3 million.
- Organic, constant currency net sales decreased by 3.5%.
- Reported net income decreased by 12.8% to $268.9 million, or $1.29 per share-diluted.
- Adjusted earnings per share-diluted remained flat at $1.31.
Headline financials
Revenue & EPS history
Hershey · Revenue · Quarterly
$1.71B
Revenue by segment
Hershey · $1.71B total across 2 segments · Q2 2020
- North America$1.58B—92.8%
- International$124M-38.0%7.2%
Forward guidance
The company expects accelerated sales growth in the second half of the year based on momentum exiting the second quarter, assuming no significant disruption to current consumer trends. The company also expects pricing and cost management to drive margin expansion in the second half of the year.
Tailwinds
- Stronger second half sales growth driven by continued elevated at-home consumption
- Price realization
- Replenishment of retailer and distributor inventory levels
- Recovering sales in food service and specialty retail channels
- Pricing and cost management to drive margin expansion
Headwinds
- Impact of recent spikes in coronavirus cases on consumer mobility
- Impact of recent spikes in coronavirus cases on retail operations
- Impact of recent spikes in coronavirus cases on government regulations
- Impact of recent spikes in coronavirus cases on the macroeconomic environment
- Slower recovery in the International and Other segment given current trends
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
+0.3%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.0%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+9.0%
Q4 2025
Best reaction
-6.7%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.6% | -2.2% | +2.8% | |
| Q4 2025 | +9.0% | +11.3% | +9.3% | |
| Q3 2025 | -2.4% | -5.3% | +7.3% | |
| Q2 2025 | +1.4% | +2.2% | -1.3% | |
| Q1 2025 | -0.0% | +1.7% | -3.9% | |
| Q4 2024 | +4.4% | +8.5% | +26.8% | |
| Q3 2024 | -0.7% | +2.6% | -1.2% | |
| Q1 2024 | +0.3% | +2.1% | +1.0% | |
| Q3 2023 | -5.3% | -3.7% | -1.4% | |
| Q2 2023 | -2.0% | -4.1% | -9.6% | |
| Q1 2023 | +4.3% | +4.8% | -1.5% | |
| Q4 2022 | +4.9% | +5.2% | +5.8% | |
| Q3 2022 | -1.2% | -0.6% | +1.1% | |
| Q2 2022 | +4.5% | +5.0% | +4.8% | |
| Q1 2022 | +1.6% | -1.0% | -4.3% | |
| Q4 2021 | +2.1% | +4.3% | +7.2% | |
| Q3 2021 | -2.3% | -2.2% | -0.9% | |
| Q2 2021 | +1.3% | +1.9% | -0.5% | |
| Q1 2021 | +3.4% | +5.1% | +8.9% | |
| Q4 2020 | +0.0% | +2.1% | +2.6% | |
| Q3 2020 | +3.5% | +6.3% | +4.3% | |
| Q2 2020 | +5.2% | +5.3% | +6.5% | |
| Q1 2020 | -5.3% | -6.3% | -9.1% | |
| Q4 2019 | +2.7% | +0.9% | -4.7% | |
| Q3 2019 | -4.3% | -4.0% | -1.9% | |
| Q2 2019 | +4.2% | +3.7% | +7.0% | |
| Q1 2019 | +6.9% | +6.6% | +11.2% | |
| Q4 2018 | -0.8% | +0.5% | +6.3% | |
| Q3 2018 | -5.2% | -0.1% | -1.8% | |
| Q2 2018 | +4.5% | +5.8% | +7.5% | |
| Q1 2018 | -0.2% | -2.4% | -1.6% | |
| Q4 2017 | -6.7% | -8.2% | -10.4% | |
| Q3 2017 | -4.2% | -2.2% | -1.1% | |
| Q2 2017 | -0.9% | -2.0% | -2.1% | |
| Q1 2017 | -1.0% | -1.3% | +6.9% | |
| Q4 2016 | +1.7% | +1.3% | +2.9% | |
| Q3 2016 | +7.3% | +6.6% | +2.3% | |
| Q2 2016 | +2.4% | +3.7% | +2.5% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +4.4% | — | — | |
| Q3 2015 | -5.7% | — | — | |
| Q2 2015 | -0.4% | — | — | |
| Q1 2015 | -3.8% | — | — | |
| Q4 2014 | -5.1% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | -3.8% | — | — | |
| Q4 2013 | +2.8% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | +1.7% | — | — | |
| Q1 2013 | -2.0% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | +0.6% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q2 2011 | -0.8% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q4 2010 | +2.7% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q2 2010 | -0.6% | — | — | |
| Q1 2009 | -0.6% | — | — | |
| Q1 2010 | +0.4% | — | — | |
| Q2 2008 | +0.3% | — | — | |
| Q3 2009 | +0.3% | — | — | |
| Q3 2008 | +0.3% | — | — | |
| Q2 2009 | +1.5% | — | — |
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